Values-based bank increases earnings over 40% year over year
First GREEN Bank, a local bank with a global mission, today announced quarterly earnings of $796,000 for the quarter that ended on March 31, 2017. This was an increase of over 40% from the first quarter of 2016 earnings of $571,000. The growth in earnings is the result of the banks expansion into new locations in Fort Lauderdale, Altamonte and its new headquarters building in downtown Orlando.
Assets of the bank also increased substantially from $410 million to $577 million from the end of March 2016 to end of March 2017 and the loan portfolio grew as well over the same period by $144 million to total $480 million.
Ken LaRoe, Chairman and Founder proudly stated: “These financial results prove that there is no compromise to shareholder value in running a business based on values. We are changing finance to finance change.” Keith Costello, President and CEO of FGB added “Our financial results show that you can do well by doing good. We are proud to be a profitable healthy bank while maintaining a culture that supports environmental regeneration and social equity.”
First GREEN Bank is a full-service financial institution, offering personal and commercial banking services such as loans, mortgages, checking and savings, CDs, IRAs and money markets. For more information about First GREEN Bank, please visit www.firstgreenbank.com.
About First GREEN Bank
Since its opening in 2009, First GREEN Bank has led an impactful and successful charge to prove there is a better way to do business — one that is financially, environmentally and socially responsible. Inspired by Patagonia’s mission of incorporating a strong sense of social responsibility into its business, founder Ken LaRoe and CEO Keith Costello are the only two leaders and friends in the Southeast banking industry to promote environmentally responsible behavior through its own business and employees. LaRoe and Costello coincidentally hold the last and second to last bank charters in the state of Florida and, together, plan to use that certification to promote their global mission.
Chartered in Orlando, with additional locations in Mount Dora, Clermont, Ormond Beach, Winter Park, Altamonte and, most recently, Fort Lauderdale, First GREEN Bank offers personal and commercial 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.
