FirstBank Reports 2015 Second Quarter Financial Results

Colorado’s Largest Locally Owned Bank Increases Net Income 3.7 Percent Year-over-Year

LAKEWOOD, Colo.--(BUSINESS WIRE)-- FirstBank Holding Company, the Lakewood-based holding company for the largest locally owned banking organization in Colorado, today reported its 2015 second quarter financial results.

As of June 30, FirstBank Holding Company's net income for the first half of 2015 increased 3.7 percent to $85,774,000 compared to $82,694,000 in 2014. Total assets were $15.17 billion, an increase of 8.8 percent, and total deposits were $13.58 billion, up 8.4 percent year-over-year. Investment securities were $5.93 billion and net loans totaled $8.37 billion, up 14.2 percent and 10.4 percent compared to 2014, respectively.

"FirstBank has experienced strong year-over-year growth in the first half of 2015 across Colorado, Arizona and California,” said John Ikard, president and CEO of FirstBank Holding Company. “We have succeeded in building on our loan and deposit base in all of our markets and look to continue this momentum through the second half of the year.”

FirstBank also reported the following financial results for Arizona and California:

Arizona

As of June 30, total deposits for FirstBank's Arizona branches increased 32.8 percent from $228.4 million in the first half of 2014 to $303.4 million in 2015. Loans also increased significantly from $440.2 million to $587.9 million, representing growth of 33.6 percent. Furthermore, FirstBank expanded its footprint in Arizona in the second quarter after opening its 16th Phoenix-area location on May 13.

California

Among FirstBank’s California branches, deposits increased 2.3 percent from $348.3 million in the first half of 2014 to $356.3 million in 2015, and loans grew 5.6 percent from $229.2 million to $242.1 million. The bank continues to operate five branches in the great Palm Desert area.

FirstBank offers a variety of checking and savings accounts, including its Anywhere Account with eSave, which automatically transfers 1 cent up to $99.99 to customers’ savings account each time they use a debit card, pay a bill electronically or transfer funds. FirstBank also offers mortgages, home equity loans and a full range of commercial loans and business accounts and services. For more information, visit www.efirstbank.com.

About FirstBank

FirstBank operates more than 120 locations in Colorado, Arizona and California. FirstBank is the largest locally owned banking organization in Colorado, serving more than 650,000 customers. Since 2000, FirstBank has contributed more than $50 million and thousands of volunteer hours to charitable organizations. FirstBank is unique in that a majority of its stock is owned by management and employees. For more information, go to www.efirstbank.com.

Member FDIC

Equal Housing Lender

View source version on businesswire.com: http://www.businesswire.com/news/home/20150720005947/en/

FirstBank
Brian Jensen, 303-235-1400
[email protected]
or
Linhart Public Relations
Jake Kubié, 303-515-2414
[email protected]

Source: FirstBank

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