LAKEWOOD, Colo.--(BUSINESS WIRE)--FirstBank Holding Company, the Lakewood-based holding company for the largest locally owned banking organization in Colorado, today reported financial results for 2015.
As of Dec. 31, 2015, FirstBank Holding Company's net income through the year-end increased to $177.9 million compared to $175.4 million in 2014. Total assets were $15.6 billion, an increase of 7 percent, and total deposits were $14 billion, up 8 percent year-over-year. Investment securities were $5.6 billion, up 8 percent from 2014, and net loans totaled $8.7 billion, an increase of 10 percent compared to 2014.
Additionally, FirstBank launched its first-ever smartphone app for Business Customers, which allows businesses to view balances, transfer funds, deposit checks and approve transactions using smartphones and mobile devices.
"2015 was another very successful year for FirstBank in all three of our markets—Colorado, Arizona and California,” said John Ikard, president and CEO of FirstBank Holding Company. “We experienced solid growth across the board in income, assets, deposits and loans, and integrated new capabilities to make banking more accessible, safe and user-friendly for our customers.”
FirstBank reported the following financial results in Arizona and California:
Arizona
In 2015, the Arizona markets reached a major milestone—$1 billion in originated loans since entering the market in 2007. As of Dec. 31, 2015, total deposits for FirstBank's Arizona branches increased 27.9 percent from $255.6 million in the fourth quarter of 2014 to $326.9 million in 2015. Loans also increased significantly from $555.6 million to $714.2 million, representing growth of 28.5 percent.
California
Among FirstBank’s California branches, deposits increased by 3.1 percent from $346.4 million in the fourth quarter of 2014 to $357 million in 2015, and loans grew 12.9 percent from $252.2 million to $284.7 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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