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FirstBank assets up 9 percent

Daily News staff report

Lakewood – FirstBank Holding Company, the Lakewood-based holding company for the largest locally owned banking organization in Colorado, recently reported its 2010 first quarter financial results. As of March 31, the company held total assets of $10.37 billion, up 9 percent compared to the same period last year. Total deposits were $9.38 billion, an increase of 8 percent compared to March 31, 2009. Loans increased 6 percent to $4.27 billion.

FirstBank Holding Company’s net income for the quarter was $35.16 million, compared to $38.83 million during the comparable period last year. Earnings per share were $273, and return on average shareholder equity was 19 percent.

FirstBank Summit County, which operates under a separate charter, reported total assets of $332.3 million.

“FirstBank continued its steady trajectory of growth during the first quarter of 2010,” said John A. Ikard, president and CEO of FirstBank Holding Company. “We saw asset and deposit growth in each of the three states where we operate and continued to pay dividends to our shareholders.”

FirstBank operates 120 locations in Colorado, eight in Arizona and five in California. FirstBank is the largest locally owned banking organization in Colorado, serving more than 600,000 customers. The company is unique in that a majority of its stock is owned by management and employees. For more information, go to http://www.efirstbank.com.


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