FirstBank California Exceeds a Quarter Billion Dollars in Deposits

FirstBank California, with over a quarter billion dollars in deposits appears to be doing well, than you very much! It is part of FirstBank Holding Company, based in Colorado

Reporting their 2011 first quarter financial results, the holding company says it has almost $10 billion, an increase of five percent from just 12 months ago.

Net income for the first quarter increased by a whopping 15 percent, up to $40.48 million, compared to $35.16 million at the same time last year. First quarter earnings per share were $315, up 16 percent.

FirstBank California, with five branches in the greater Palm Desert area, had $258.6 million in deposits and $133.5 million in loans, for the quarter just ended.

“We started 2011 with another quarter of solid results as FirstBank continued to grow in all key financial measures and again increased returns for shareholders. FirstBank is healthy, well-positioned, and will remain disciplined as we continue to grow deposits and loans and deepen our customer relationships”
– John Ikard, President and CEO, FirstBank Holding Company