FirstBank reports growth for First Quarter of 2021
Posted 5/20/21
Across FirstBank’s Arizona branches, deposits grew 41.6% from $618.9 million to $876.3 million compared to Q1 2020. Arizona loans also increased by 2.5% from $926.5 million to $949.3 million, while assets increased by 2.2% from $976.8 million to $997.9 million.
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Across FirstBank’s Arizona branches, deposits grew 41.6% from $618.9 million to $876.3 million compared to Q1 2020. Arizona loans also increased by 2.5% from $926.5 million to $949.3 million, while assets increased by 2.2% from $976.8 million to $997.9 million.
FirstBank has a Glendale branch at 5885 W. Bell Road.
For the ninth consecutive year, FirstBank was the presenting sponsor for Arizona Gives Day, which raised a record-breaking $7.1 million for local nonprofits. To help promote the one-day giving event, the bank surprised dozens of families across Phoenix by paying for their groceries this past March.
Additionally, FirstBank was recognized with the following honors:
AZ Business Magazine as a “Bank of the Year,” and one of five banks recognized for their “Community Impact.”
Finalist for the AZ Business Angels “Collaboration of the Year” for its contributions to Arizona Gives Day.
Finalist for the Greater Phoenix Chamber’s 2021 IMPACT Awards.
Across all of FirstBank’s trade areas, the bank experienced a 29.1 percent increase in total deposits to $23.5 billion from Q1 2020. Total assets grew by 28 percent to $25.9 billion and net loans were up by 16.3 percent from last year to $13.4 billion.
FirstBank also continued their partnership with the Phoenix Suns to award a Hispanic-owned business $5,000 and donated $5,000 to the Arizona Housing Fund.
Click here to learn more about how FirstBank is empowering underserved communities.
