FirstBank Focuses on Sustainable Strategies in the First Quarter of 2024
09 Mayo 2024 - 10:00AM
FirstBank, one of the nation’s largest privately held banks with a
focus on “banking for good,” announced its 2024 first-quarter
summary on the company’s holdings and activities. At the end of
March, the bank reported the following quarter-over-quarter
results:
- Net income through the first quarter of 2024 was $49.9
million
- Total deposits increased by 1.2% to $24.6 billion
- Net loan balance increased by 0.6% to $16.3 billion
- Total assets decreased by 2.5% to $27.5 billion
In the first quarter of 2024, Jim Reuter announced his
retirement as CEO but will continue to serve on FirstBank’s Board
of Directors. The Board elected FirstBank President Kevin Classen
as the incoming CEO, Kelly Kaminskas was appointed Chief Operating
Officer and Adam Sands was named Chief Banking Officer.
“FirstBank has a very strong financial foundation thanks to Jim
and our predecessors,” said Kevin Classen, CEO of FirstBank. “Our
key performance metrics remain steady, and we have a 60-plus-year
history of sustainable growth we plan to build on. This year, we’re
focused on doing what we do best – prudent decision-making,
ensuring great credit quality and increased capitalization. We also
remain focused on bolstering local communities, and delivering
innovative and needed products and services to customers.”
FirstBank opened its first Spanish Banking Center in Glenwood
Springs to provide enhanced financial resources and banking
services to Spanish-speaking families and business owners
throughout the Roaring Fork Valley. The Glenwood Springs location
joined FirstBank’s growing list of Multicultural Banking Centers,
where customers can receive banking services in their preferred
language and with an understanding of their culture.
Additionally, the bank partnered with Desert Community
Foundation to run another successful Coachella Valley (CV) Giving
Day, raising more than $886,000 for local nonprofits — double the
amount raised last year.
About FirstBankFirstBank began providing
banking services in 1963. Today, it’s known as an industry leader
in digital banking. It has grown to be one of the top performing
and largest privately held banks in the United States, maintaining
over 100 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 more than $90 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. Member FDIC.
Media Contact:Chandra
Brin303.235.1402Chandra.Brin@efirstbank.com