FirstBank Experiences Significant Growth In Arizona

FirstBank Announces its Second Quarter Earnings

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Jul 30, 2013, 02:34 ET

LAKEWOOD, Colo., July 30, 2013 /PRNewswire/ -- FirstBank has released its 2013 second quarter financial results for its Phoenix, East and West Valley markets in Arizona.

As of June 30, 2013, the FirstBank Arizona markets saw a 21.9 percent increase in deposits, growing from $151.3 million to $184.4 million since second quarter 2012. Arizona locations also saw an impressive 68.2 percent increase in loans, rising from $173 million to $291 million at the end of June.

"We're very pleased with our progress in Arizona," said Kevin Classen, FirstBank Market President of the West Valley. "We've consistently experienced double-digit lending and deposit growth. As a result, we opened a second Goodyear location in May and have plans to open more locations around the Valley in the near future. We couldn't be more humbled and excited by the response we've received from residents and area businesses alike."

FirstBank opened its first Arizona location in 2007 and has expanded to twelve locations today. Additional West Valley locations are tentatively scheduled to open in late 2013 and mid-2014.

All FirstBank locations offer a full range of checking and savings accounts, including Free Checking, Free Business Checking and its eSave account package, 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. The branches also offer mortgages, home equity loans and a full range of commercial loans and business accounts and services.

FirstBank never originated, held or purchased any subprime mortgage loans or securities, an effort which has helped FirstBank maintain remarkable financial stability.

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 $40 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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SOURCE FirstBank