FirstBank, one of the nation’s largest privately held banks with a focus on “banking for good,” today announced its first quarter 2019 financial results. The bank, which operates 15 branches across the Valley, posted significant growth across key categories, including year-over-year gains in Arizona:  

• FirstBank’s Phoenix-area branches saw total deposits increase from $469.1 million to $501.9 million, a gain of 7 percent.

• Loans grew to $852.1 million in Q1 2019 compared to $820.5 million in Q1 2018, an increase of 3.9 percent.

• Assets increased 3.5 percent from $871.7 million to $902 million.

“We owe much of our success to our hardworking, dedicated employees who’ve demonstrated an unwavering commitment to doing right by our customers and communities,” said Bryce Lloyd, FirstBank’s President in Phoenix. “We look forward to many more months of continued growth and service in the Valley.” 

As of March 31, 2019, the company’s total assets, total deposits, net loans and net income increased, compared to Q1 of 2018. Total assets grew by 5.6 percent to $19.1 billion and total deposits increased by 5.5 percent to $17.17 billion. Net loans hit $10.74 billion, an increase of 5 percent and net income posted a 0.6 percent increase to $64.73 million. Investment securities were up by 2.3 percent to $6.4 billion.

FirstBank launched its “Good Means” campaign in the first quarter of 2019 to bring its ‘banking for good’ philosophy to life. The new marketing direction differentiates FirstBank by highlighting services and messages that showcase the bank’s “people first” mentality as well as its commitment to community.

“It’s been a humbling experience to witness this company grow in every financial measure over the past 12 years,” said FirstBank CEO Jim Reuter. “If the first quarter is any indication of the remainder of 2019, we’re hopeful it’ll be another successful year, and we’ll be able to provide ample resources to help our nonprofit communities, customers and employees thrive. Growth only matters when we can make a positive impact on those around us.”