FirstBank maintains robust growth at the start of 2022

Business News | 23 May |

FirstBank, one of the nation’s largest privately held banks with a focus on “banking for good,” announced its 2022 first quarter summary of the company’s holdings and activities. At the end of March, the Arizona market branches reported total assets climbed to $1.3 billion, up 29 percent from the same period in 2021. Total deposits were $1.3 billion, exceeding last year’s first quarter deposits by 43 percent, and net loan balances rose by 31 percent to $1.2 billion.


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“It’s been wonderful to witness FirstBank’s evolution and growth in Arizona,” said Joel Johnson, FirstBank East Valley Market President. “Despite the challenges surrounding the current economic environment, we remain steadfast in our investments to this community, whether through financing businesses, supporting economic development initiatives, or our many philanthropic endeavors; we’re seeing the benefits of that direction.”

In anticipation of Arizona Gives Day, FirstBank surprised customers at two Valley bank branches with over $10,000 in gift cards in hopes they would help spread goodwill and consider “giving it forward” to their favorite Arizona Gives Day charity. As the presenting sponsor of the 24-hour online giving campaign, FirstBank has surprised community members with free gas and groceries, covered restaurant tabs and vet bills, and more to encourage recipients to donate those unused funds to a nonprofit of their choosing.

FirstBank celebrated other milestones this quarter, including being honored by AZ BIG Media’s Excellence in Banking recognition for its community impact and partnership with Arizona Gives Day. FirstBank was ranked in Ranking Arizona: Top 10 banks for 2021, the state’s largest and most comprehensive business opinion poll. What’s more, FirstBank’s Phoenix Market president Humphrey Shin was named one of Arizona’s Most Influential Minority Business Leaders. Shin joined the company in 2004 and has helped FirstBank’s Arizona assets grow by 14.3% to $1.1 billion in the last year.

“We’re grateful for the recognition we received for our unwavering effort to enrich our community, including our continued efforts to support nonprofits across the state through Arizona Gives Day,” added Johnson. “Our first-quarter success is buoyed by our commitment to our customers, community, and employees.”

For more information about FirstBank, visit www.efirstbank.com.

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