LAKEWOOD, Colo., Nov. 08, 2022 (GLOBE NEWSWIRE) — FirstBankone of the nation’s largest private banks focused on “banking for good,” reported sustained growth in revenue, assets and deposits as part of its third-quarter summary of the company’s assets and operations. ‘company.

In late September, FirstBank announced the following year-over-year results:

  • Net loan balance increased 16.6% to $15.7 billion
  • Total deposits increased 5.2% to $26.4 billion
  • Total assets grew 3.9% to $28.5 billion
  • Net income increased 15.2% to $256.3 million

“Despite rising interest rates and inflation, we are seeing continued growth in all key financial metrics,” said FirstBank CEO Jim Reuter. “We are on track to finish the year strong and are well positioned to weather the economic challenges, which is no doubt the result of creating an award-winning customer experience and the hard work and talent of the members. dedicated members of our team.”

Through a recent consumer survey by American banker, FirstBank was ranked among the top 20 banks, fintechs and credit unions nationwide for its customer experience and satisfaction ratings.

The bank has also helped 150 Black and African American families become homeowners through its Homeownership Grant Program (PATH) and launched its “Empower All” initiative, a collection of financial education resources in online, video and in-person events that are available in English and Spanish. These two initiatives reinforce FirstBank’s commitment to helping all communities, especially underserved ones, become more financially confident.

“Connecting with and supporting the community is a core part of FirstBank’s mission, and these initiatives increase access to financial resources for those who can truly benefit,” Reuters added.

Additionally, the bank has added two new directors, Christopher Davis-Massey, chief operating officer of City Street Investments, and Veena Dandapani, director of client services at Pagaya Technologies, to its board. Davis-Massey and Dandapani bring their extensive knowledge and industry expertise to help lead FirstBank into the future.

For more information about FirstBank, visit www.efirstbank.com.

About FirstBank
FirstBank began providing banking services in 1963. Today, it is known as a leader in the digital banking industry and has grown to become one of the largest private banks in the United States, retaining more than $28 billion of assets and 100 branches in Colorado, Arizona and California. FirstBank offers a variety of consumer deposit accounts, home equity loans, mortgages, rental real estate loans and a full range of commercial banking services, including business finance, commercial real estate loans, cash management and more. Since 2000, FirstBank has been recognized as one of the top corporate philanthropists, contributing nearly $80 million and thousands of volunteer hours to charities. 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 share ownership program. For more information, visit www.efirstbank.com.

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