March 18 - First GREEN Bank, a local bank with a global mission, has announced its 2013 financial performance numbers, confirming the bank’s growth and success rounding out its fifth year of operation. With four locations across Central Florida, and a fifth set to open shortly in Winter Park, First GREEN Bank continues to solidify its reputation as a successful financial institution, while also doing the right thing for the environment and its people, the community and its shareholders.
"When I founded First GREEN Bank, I was determined to show Central Florida that a values-based financial institution could be profitable while focused on doing the right thing for the environment" said Ken LaRoe, CEO of First GREEN Bank. "Our year end numbers demonstrate that we have not only done just that, but exceeded the performance of most traditional community banks during these tough economic times.”
This past year First GREEN Bank became cumulatively profitable at the beginning of the 4th quarter, which was eight months earlier than projected. Reaching this milestone will only not only allow the values-based financial institution to continue serving Central Florida residents for many years to come. Other major accomplishments include raising more than seven million in capital, ending the year with just over $248 million in assets and receiving the coveted 5-star BauerFinancial rating from the nation’s leading independent financial institution rating service for the third year in a row.
“As the bank continues to perform successfully, we are able to continue to dedicate the bank’s mission to the triple bottom line of ‘People, Planet and Prosperity’, and move forward with the charge to show Central Florida there is a better way to do business that allows for enduring success, without a degree of ethical compromise” continued LaRoe.
Other successes for the bank include ending the year with loans of $201.5 million. This impressive performance allowed the bank to add nearly $900,000 to their bottom line. First GREEN Bank also managed to grow nearly $50 million in assets, maintain a Net Interest Margin (NIM) of 4.48% YTD, and end the year with DDA to total deposits of just over 24%. More than 1,135 new accounts were also opened with the bank throughout the year.
About First GREEN Bank
First GREEN Bank, which opened in February 2009, was organized by experienced banking executives and business leaders in Central Florida, and is the first bank of its kind on the Eastern U.S. to promote positive environmental and social responsibility while providing for increased profits for investors and clients. First GREEN Bank leads by example, promoting environmentally, socially and financially responsible behavior through its own business and employees.
Headquartered in Mount Dora, First GREEN Bank has locations in Clermont, Ormond Beach and Orlando, and will have a Winter Park location opening in Spring 2014. First GREEN Bank offers banking services such as loans, mortgages, checking and savings, CDs, IRAs and money markets.
To find out more about First GREEN Bank, visit www.firstgreenbank.com.