FirstBank Reports 2015 Third Quarter Financial Results

Colorado’s Largest Locally Owned Bank Increases Net Income 4 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 2015 third quarter financial results.

As of Sept. 30, FirstBank Holding Company's net income through the first three quarters of 2015 increased 4 percent to $130,669,000 compared to $125,570,000 in 2014. Total assets were $15.09 billion, an increase of 7 percent, and total deposits were $13.58 billion, up 8.4 percent year-over-year. Investment securities were $5.71 billion and net loans totaled $8.55 billion, both up 10 percent compared to 2014. Additionally, the company celebrated the grand reopening of its Cherry Creek location on the corner of 1st Ave. and Saint Paul St. in Denver on Sept. 16.

"FirstBank has experienced robust year-over-year growth across Colorado, Arizona and California and we have strong momentum going into the final quarter of the year,” said John Ikard, president and CEO of FirstBank Holding Company. “We’ve successfully built upon our loan base across all markets and significantly grown total deposits in Colorado and Arizona.”

FirstBank reported the following financial results for Arizona and California:

Arizona

As of Sept. 30, total deposits for FirstBank's Arizona branches increased 24.7 percent from $240.1 million in the third quarter of 2014 to $299.5 million in 2015. Loans also increased significantly from $462.4 million to $611.9 million, representing growth of 32.3 percent. The company also opened one new branch location during the third quarter on South 40th St. and E. Chandler Blvd. in Phoenix.

California

Among FirstBank’s California branches, deposits decreased slightly – by 0.8 percent – from $344.1 million in the third quarter of 2014 to $341.3 million in 2015, but loans grew 11.7 percent from $234.6 million to $262.1 million. The bank continues to operate five branches in the greater 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.

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Member FDIC

Equal Housing Lender

View source version on businesswire.com: http://www.businesswire.com/news/home/20151029006234/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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