FirstBank reports lower earnings, rise in loans, deposits regionally

Lakewood-based FirstBank Holding Co. reported a drop in earnings but increases in both loans and deposits in the Northern Colorado market for the first quarter.

FirstBank’s net income dropped 2 percent from $40.5 million in the first quarter of 2011 to $39.7 million in the same period this year.

Loans in Northern Colorado increased by 27.9 percent from $394.4 million to $504.5 million year-over-year, and deposits increased by 16.1 percent from $438.9 million in the first quarter 2011 to $509.7 million in the same period of 2012.

Company-wide, FirstBank reported an 11 percent increase in both assets and deposits year-over-year in the first quarter.

As of March 31, 2012, total assets were $12 billion, with a 15 percent increase in total loans, from $4.63 billion in the first quarter of 2011 to $5.31 billion.

FirstBank operates 125 locations in Colorado, Arizona and California.

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