Bank launches bilingual initiative to enhance financial literacy by offering banking education resources
PALM DESERT, Calif., Nov. 8, 2022 — FirstBank, one of the nation’s largest privately held banks with a focus on “banking for good,” announced sustained growth in income, assets, and deposits as part of its third quarter summary on the company’s holding and activities.
Across FirstBank California branches, FirstBank net loans increased 28.8 percent to $416.9 million, and total deposits rose 5.0 percent to $683.6 million. Across all markets, FirstBank reported a net loan balance increase of 16.6 percent to $15.7 billion. Total deposits climbed 5.2 percent to $26.4 billion, total assets grew 3.9 percent to $28.5 billion, and net income increased 15.2 percent to $256.3 million.
“By continuing to put our customers, communities, and employees first, we have experienced consistent growth despite the uncertain economic conditions around us,” said Jake Wuest, California Market President for FirstBank. “FirstBank will continue to invest in our community to deliver on our banking for good mission, so customers can feel confident in their banking decisions and financial needs in any economy.”
In a recent consumer survey by American Banker, FirstBank was ranked among the top 20 banks, fintechs, and credit unions nationwide for its customer experience and satisfaction ratings.
In collaboration with the Desert Community Foundation (DCF), the bank announced the inaugural Coachella Valley Giving Day, a 24-hour online giving event that will launch on March 1, 2023, with the goal of increasing individual philanthropy and supporting local nonprofit organizations in the Coachella Valley. 501(c)(3) organizations in the Coachella Valley, including eligible schools and churches, can participate for free by registering from November 1, 2022, to February 1, 2023.
In Q3, FirstBank launched its “Empower All” initiative, a collection of online financial education resources available in English and Spanish, which aims to help all communities, especially those who are underserved, become more financially confident.
For more information about FirstBank, visit www.efirstbank.com.
