FirstBank Closes Out the Year with Record Income and Growth
Bank Helps Colorado Gives Day Raise More Than $54 Million for 3,000+ Local Nonprofits
LAKEWOOD, Colo., Feb. 15, 2022 (GLOBE NEWSWIRE) — FirstBank, one of the nation’s largest privately held banks with a focus on “banking for good,” announced year-over-year double-digit percentage increases in assets, deposits, and income in the fourth quarter of 2021.
At the end of December, FirstBank’s assets totaled $28.9 billion, up 17.9 percent. Total deposits were $26.6 billion, up 21.6 percent from the same time last year. Net income grew by 30.2 percent to $309.4 million, while net loans increased 4.9 percent year-over-year to $13.6 billion.
“Among many accomplishments, our team provided more than 5,800 mortgages and over 1,600 real estate loans to customers in 2021 – an exceptional level of production,” said FirstBank CEO, Jim Reuter. “We are starting the new year in a strong position, largely due to the hard work shown by our dedicated team members.”
FirstBank ended 2021 with its annual “Give It Forward” program, where executives and market presidents surprised unsuspecting customers with Visa Gift Cards to provide financial support ahead of the holidays. Recipients were encouraged to “Give It Forward” and donate to a charity of their choice on Colorado Gives Day, an annual 24-hour giving event presented by Community First Foundation and FirstBank.
This year, Coloradans raised a record-breaking $54.4 million for more than 3,000 local nonprofits. FirstBank has been the presenting partner of Colorado Gives Day since its inception 12 years ago and has been instrumental in helping the program raise over $360 million for nonprofits statewide.
“Colorado Gives Day makes an enormous impact on Colorado nonprofits, so to see it grow and succeed each year is a privilege,” continued Reuter. “FirstBank’s participation in this day of giving is one example of banking for good in action.”
For more information about FirstBank, visit www.efirstbank.com.
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.
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Media Contact:
Chandra Brin
FirstBank
303-235-1402
chandra.brin@efirstbank.com
A PDF infographic accompanying this announcement is available at: http://ml.globenewswire.com/Resource/Download/c9b80d6c-41b8-45bc-b8f0-91f642a6a097
