FirstBank Reports 2014 Second Quarter Financial Results
LAKEWOOD, Colo., July 30, 2014 /PRNewswire/ -- FirstBank Holding Company, the Lakewood-based holding company for the largest locally owned banking organization in Colorado and the second largest bank by deposits, today reported its 2014 second quarter financial results.
As of June 30, 2014, the company's total deposits were $12.53 billion, up 7 percent compared to the second quarter of 2013. Total assets were $13.94 billion, up 6 percent from the same time last year. Total loans grew 13 percent to $7.58 billion compared to June 30, 2013.
FirstBank Holding Company’s net income for the first six months of 2014 increased 5 percent to $82.69 million, compared to the second quarter last year of $78.53 million as of June 30, 2013.
FirstBank also opened four new locations in the second quarter of 2014, which included branches in Arizona, Fort Collins, Aurora and downtown Denver.
"We've continued to increase our presence in Colorado and Arizona by adding locations, and we also experienced very strong second quarter results," said John Ikard, CEO of FirstBank Holding Company. "We're extremely pleased with our financial performance, including loan and deposit growth, and plan to continue this momentum during the second half of the year. We're anticipating that 2014 will be another successful year."
FirstBank also reported the following state-specific financial results:
Arizona
As of June 30, 2014, total deposits for FirstBank's Arizona branches were $228.2 million, up 25.5 percent from $181.9 million compared to the same time a year ago. Loans also increased 54.1 percent to $440 million from $285.5 million. FirstBank opened its first Arizona location in 2007 and now operates 14 branches in the state.
California
Total deposits for FirstBank California were $348.2 million, up 26.5 percent compared to $275.2 million in the second quarter 2013. Total loans were $229.1 million ending June 30, 2014, an 8.2 percent decrease from the same time a year ago. The bank operates five branches in the greater Palm Desert, Calif. area.
About FirstBank
FirstBank operates more than 115 locations in Colorado, Arizona and California. FirstBank is the largest locally owned banking organization in Colorado and the second largest bank by deposits, serving more than 600,000 customers. Since 2000, FirstBank has contributed more than $45 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
SOURCE FirstBank Holding Company
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article