LAKEWOOD — FirstBank on Tuesday reported a profit of $48 million for its first quarter 2017 that ended March 31, a 10.6 percent increase compared with the same quarter a year ago.
The Lakewood-based bank has branches in Boulder, Broomfield, Larimer and Weld counties, as well as other counties in Colorado, Arizona and California.
Total assets grew to $17.3 billion, an increase of 7.8 percent, and total deposits increased to $15.6 billion, up 8.1 percent. Net loans totaled $9.6 billion, an increase of 8.5 percent.
In Boulder County, assets grew 16.8 percent during the first quarter from $543.1 million to $634.2 million. Total deposits increased 9.4 percent to $819 million and loans increased from $535.4 million to $627.4 million, an increase of 17.2 percent. The bank did not release information on its operations in the city and county of Broomfield.
In Northern Colorado — Larimer and Weld counties — assets grew 4.4 percent from $849.6 million to $886.7 million. Total deposits increased 5.3 percent to $743.1 million and loans increased from $828.2 million to $865.9 million, an increase of 4.6 percent.
FirstBank operates more than 115 locations in Colorado, Arizona and California.