FirstBank Experiences Substantial Increases in Deposits and Asset Size

Tuesday, 24. August 2021 16:21

Lakewood, Colo., Aug. 24, 2021 (GLOBE NEWSWIRE) -- FirstBank, one of the nation’s largest privately held banks with a focus on “banking for good,” ended the second quarter with double-digit percentage growth in deposits and asset size.

Total assets grew to $26.8 billion, an 18.8 percent increase from the same period last year, while deposits jumped to $24.4 billion, a 20.9 percent increase from 2020. FirstBank’s net loans also increased by 4.1 percent to $13.2 billion, year-over-year.

During the second quarter, FirstBank launched an earth friendly campaign in partnership with the global reforestation nonprofit, One Tree Planted. The company announced it will plant five trees for each Bloom Account Package opened through August 31 in hopes of planting up to 50,000 trees in Colorado, California and Arizona.

“We care about the health of our communities and the financial health of our customers, which represents a big part of our ‘banking for good’ mission,” said Jim Reuter, CEO of FirstBank. “By focusing on what matters to us and our stakeholders, it’s enabled our organization to experience strong year-over-year growth. We’re anticipating this trend to continue throughout 2021.”

In addition to supporting environmental causes, FirstBank enacted various multicultural outreach, affordable housing and down payment assistance initiatives as part of its Diversity, Equity and Inclusion (DEI) efforts, to help eliminate economic disparities and increase access to financial resources for individuals of color.

The bank, which is known to partner with local housing nonprofits to bring creative options to first-time buyers and underserved communities, also launched its Empowering Homeownership program in Q2 2021, showcasing how it helps diverse customers overcome the odds to become successful homeowners. 

“We’re hopeful the programs we’re putting into place will reduce barriers and create bright futures for many deserving individuals and families” added Reuter. 

To learn about FirstBank’s tree-planting campaign or to help in the cause, go to www.efirstbank.com/green. Or to learn about FirstBank’s Empowering Homeownership initiative, go to www.efirstbank.com/empower.

About FirstBank

FirstBank began providing banking services in 1963. Today, it’s known as an industry leader in digital banking and has grown to be one of the largest privately held banks in the United States, maintaining more than $25 billion in assets and 110 branch locations across Colorado, Arizona and California. FirstBank offers a variety of consumer deposit accounts, home equity loans, mortgages, rental property loans and a full range of commercial banking services, including business financing, commercial real estate loans, treasury management and more. Since 2000, FirstBank has been recognized as a top corporate philanthropist, contributing nearly $75 million and thousands of volunteer hours to charitable organizations. The company is also unique in that a large portion of its stock is owned by management and employees, giving employees a financial stake in the bank’s success through its Employee Stock Ownership Program.

For more information, visit www.efirstbank.com.

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Chandra Brin
FirstBank
303-235-1402
chandra.brin@efirstbank.com
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