FirstBank, one of the nation’s largest privately held banks with a focus on “banking for good,” announced continued growth in assets, deposits, and income as part of its 2022 second quarter summary of the company’s holdings and activities.
At the end of June, FirstBank’s Arizona division saw total assets climb to $1.5 billion, up 41 percent from the same period in 2021. Total deposits were $1.4 billion, exceeding last year’s second quarter total by 39 percent.
Across all markets, FirstBank’s total assets climbed to $28.7 billion, up 7 percent from the same period in 2021. Total deposits were $26.9 billion, exceeding last year’s second quarter total by 10.4 percent, and net income rose by 14.2 percent to $163.1 million.
In April 2022, FirstBank teamed up once again with the Arizona Alliance of Nonprofits to raise more than $6 million for Arizona Gives Day, a 24-hour online giving campaign. The bank has been the presenting partner of Arizona Gives Day since its launch in 2013, raising more than $36 million for Arizona nonprofits since its inception.
“We have been proud of all that we’ve achieved in the second quarter, particularly our role in helping raise millions for local nonprofits,” said Joel Johnson, FirstBank’s East Valley Market President. “We’ll continue to support local organizations that align with our values and positively impact the communities in which we live and work.”
As the Official Bank of the Phoenix Mercury, the bank demonstrated its support for Phoenix Mercury star Brittney Griner’s Heart and Sole Shoe Drive by sponsoring collection bins at retail locations around the Valley. This year, with the support of fans and teams from the WNBA and NBA, the drive has gathered over 700 pairs of shoes and earned more than $13,000 for the Phoenix Rescue Mission, making it the most successful drive since it began in 2016.