FORT LAUDERDALE, Fla., Jan. 31, 2018 (GLOBE NEWSWIRE) -- First GREEN Bank, a local bank with a global mission, announces today its 2017 annual earnings of $4,536,000. This was an increase of 250 percent from the bank’s 2016 earnings of $1,300,000. These impressive earnings are after a one-time charge related to the tax law change of $377,000. The growth in earnings is the result of the bank’s expansion into South Florida, in addition to the continued high performance of the Central Florida offices.
“Our team of outstanding bankers continues to impress me through their ability to out maneuver their larger and usually cheaper competition on lending to small and mid-sized companies,” said Keith Costello, president & CEO of First GREEN Bank. “It truly is a testament to the fact that business owners still recognize the value of a local banking relationship.”
Assets of the bank also increased substantially from $542 million to $702 million from the end of December 2016 to end of December 2017. This 30 percent balance sheet growth was seen in loan as well as deposit growth.
“With our country’s increased nationalism, erosion of our governmental institutions and the corresponding decrease in democracy, First GREEN Bank continues to operate as one of the few values-based financial institutions in America,” said founder and chairman of First GREEN Bank, Ken LaRoe. “We proudly operate with total transparency and good corporate governance.”
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. Committed to incorporating a strong sense of social responsibility into their business, founder Ken LaRoe and CEO Keith Costello are the only two leaders and friends in the banking industry to promote environmentally responsible behavior through First GREEN’s business and employees. Together, LaRoe and Costello plan to promote their global mission. Headquartered in Orlando, with additional locations in Mount Dora, Clermont, Ormond Beach, Winter Park, Fort Lauderdale, and, most recently, Altamonte Springs, First GREEN Bank offers personal and commercial banking services.
To find out more about First GREEN Bank, visit www.firstgreenbank.com.
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Source:First GREEN Bank