FirstBank’s deposits, loans increase in Q2

BOULDER – Customer deposits and loans both increased during the second quarter at FirstBank Holding Co.’s branches serving the Boulder market.

The Lakewood-based bank’s deposits in the Boulder market increased 5.7 percent to $580.7 million for the second quarter ended June 30 from $540.4 million in the second quarter of 2011. Loans went up 28.7 percent to $324.3 million in the second quarter from $252 million in the second quarter of 2011.
 
FirstBank has 11 branches in the Boulder Valley, including its signature downtown location at Broadway and Spruce Street. Bank officials recently made a request to the state banking board to close a Boulder branch located in the King Soopers grocery store at 30th Street and Arapahoe Avenue. The closure would be related to changing customer banking patterns – with more customers now banking online, bank officials have said.

“Our strong second-quarter results are on-trend with the growth we saw earlier this year,” John Ikard, chief executive officer of FirstBank Holding Co., said in a press statement. “We experienced strong loan and deposit growth in nearly all our markets for the second consecutive quarter.”

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As of June 30, the bank’s overall deposits were $10.9 billion, up 9 percent compared with the same period last year. Total loans grew 18 percent from $4.75 billion to $5.6 billion during the same time period.

FirstBank operates more than 125 locations in Colorado, Arizona and California. It is the largest locally owned bank in Colorado, serving more than 600,000 customers.