LAKEWOOD, Colo., July 26 /PRNewswire/ -- FirstBank Holding Company, the Lakewood-based holding company for the largest locally owned banking organization in Colorado, today reported its 2010 second quarter financial results. As of June 30, 2010, the company held total assets of $10.3 billion, up 8 percent compared to the same period last year. Total deposits were $9.3 billion, an increase of 7 percent from June 30, 2009. Loans increased 4 percent to $4.3 billion.
FirstBank Holding Company's net income for the first six months was $73.5 million, compared to $72.3 million during mid-year 2009. Earnings per share were $570, and return on average shareholder equity was 19.4 percent.
"For years FirstBank Holding Company has remained strong, and 2010 is no exception. During the first half of the year we continued to grow our asset and core deposit base, and we again generated a return for shareholders," said John Ikard, president and CEO of FirstBank Holding Company. "The additions of new account offerings combined with our signature style of customer service and community involvement has allowed us to maintain the same financial health and steady growth we've always experienced."
FirstBank also reported the following financial results for FirstBank locations operated outside of Colorado:
Arizona
FirstBank operates eight locations in Arizona. As of June 30, 2010, total assets for FirstBank's Arizona banks were $129.6 million, up from $113.7 million compared to the same time a year ago. FirstBank opened its first Arizona location in 2007.
California
Total assets for FirstBank in California grew to $332.8 million, up 9 percent compared to June 30, 2009. The bank operates five branches in the greater Palm Desert, Calif. area.
FirstBank operates 120 locations in Colorado, eight in Arizona and five in California. FirstBank is the largest locally owned banking organization in Colorado, serving more than 600,000 customers. The company 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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SOURCE FirstBank Holding Company
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