FirstBank posts net income of $190.6M for 2016

LAKEWOOD – FirstBank, Colorado’s second-largest bank, reported net income of $190.6 million for 2016, a 7.2 percent increase compared with 2015.

FirstBank operates more than 120 locations in Colorado, Arizona and California. It has branches all along the Front Range, including Boulder, Fort Collins, Greeley, Broomfield, Longmont, Louisville, Loveland and Windsor.

As of Dec. 31, FirstBank’s total assets grew to $17 billion, an increase of 9.6 percent, total deposits increased to $15.4 billion, up 9.7 percent, and net loans totaled $9.5 billion, an increase of 9.3 percent compared to the same period in 2015.

FirstBank also donated more than $4 million to 809 nonprofit organizations across Colorado, Arizona and California, bringing its charitable donation total to $57 million since 2000.

“Last year was significant for FirstBank in many ways. Beyond our year-over-year growth, we opened our new headquarters, hired over 600 employees and continued to enhance our products and services,” said Jim Reuter, who became FirstBank’s chief executive on Feb. 1, replacing John Ikard, who retired.

In recognition of its charitable efforts, FirstBank received the 2016 Corporate Citizenship award from Gov. John Hickenlooper for being one of the most philanthropic organizations in Colorado and in recognition of several initiatives, including founding Colorado Gives Day, implementing its Employee Volunteer Program and making significant contributions to Colorado-based charities.

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