Latest news with #FirstBank
Business Journals
3 days ago
- Business
- Business Journals
First Bank's back-to-basics approach: How knowledgeable relationship managers turn challenges into opportunities
At First Bank, we're proud of our multi-generational, family-owned and St. Louis-based heritage. As a one-stop financial resource and strategic partner for businesses across various backgrounds and industries, we proudly help clients turn challenges into opportunities. In times of uncertainty, our counterparts will often focus on expense management, capital allocation, consolidation of business lines and management roles. The focus becomes on 'growth' markets, advisory fees and creation of industry-specialty groups with too few relationship managers covering vast geographic territories. Our team of experienced commercial lenders features expertise across various industries, including manufacturing, distribution, health care and wholesale sectors. With a commitment to understanding the unique challenges and opportunities within each vertical, our team strives to provide strategic, comprehensive services designed to foster growth and success. Offering a comprehensive, back-to-basics approach Bucking national trends, First Bank's go-to market strategy hasn't changed in 115 years. It's evolved, but at the end of the day, it's the same as it's always been. We offer 'back-to-basics banking,' build long-term relationships and help clients navigate uncertain times. With First Bank, you can expect to receive personalized, local service from a single point of contact from start to finish. With this comprehensive approach, we also have intelligence regarding our clients' vendors and customers. expand Possessing experience in unique, complex situations Complexity of the current economic environment is not unlike other challenges that we've faced and navigated throughout our history. As a stable, family-owned business, we have the experience to help you manage through it all. During times of uncertainty, it's wise to not put your entire banking relationship with only one provider. From our holistic advisory services to First Bank's Commercial Lending and Banking, we can expand your financial advisory team while not disrupting your main banking relationship. Together, we'll work to help you achieve your short and long-term goals. Below are some industry-specific scenarios, illustrating how we've supported clients in addressing their unique needs: 1. Distributor scenario During a national health and economic crisis, a First Bank client needed to make larger purchases from a primary vendor to maintain inventory allotment and improve margin opportunity. We understood this business needed to have temporary debt capital in order to move forward. First Bank stepped up to support this distributor with what they needed. After the crisis, the client normalized to a new, larger level of business maintaining enhanced margins. 2. Manufacturer scenario A First Bank client manufactures and supplies to an industry with few customers, multiple needs and evolving demands. First Bank understands the struggles of high fixed asset investment, changing volume and rising costs. There will always be the need to adjust mid-year when the forecast starts to deviate with the annual budget. 3. Family business scenario When a family business needs to work through the individual needs of each family member, a strategic partner can be an asset. When a First Bank client was expanding their manufacturing capacity, the owners needed to determine the future direction. First Bank stood by and continued to offer support as family owners determined their next steps. We continued to support family members and the business simultaneously. Serving clients across industries to achieve goals First Bank's relationship managers are industry agnostic and have a broad line of sight into multiple industries without having to go out of market to get industry expertise. Our experts are relationship-focused, know your business and support you through the ups and downs. By combining deep industry knowledge with a comprehensive suite of banking services, First Bank empowers our clients to navigate their unique challenges, pivot to overcome obstacles and achieve their business goals. Visit for more information on First Bank's Commercial Banking team and services. Member FDIC Possessing over 30 years of commercial and corporate banking experience, Skornia grew up working in a family-owned business. His expertise encompasses manufacturing, distribution, oil/chemical, commercial construction, technology and health care. He is a current member of Lutheran Senior Services Finance Committee and former board member of the Association of General Contractors. Skornia has a Bachelor of Science degree and an MBA from the University of Central Missouri. Contact him at or 314-277-4543.
Yahoo
6 days ago
- Business
- Yahoo
FirstBank's First Quarter Results Reflect Community Engagement and Stability
FirstBank uplifts small businesses with the 'It Takes Courage' campaign LAKEWOOD, Colo., May 29, 2025 (GLOBE NEWSWIRE) -- FirstBank, one of the nation's largest privately held and top-performing banks with a focus on 'banking for good,' announced its 2025 first-quarter summary of the company's holdings and activities. The bank reported the following quarter-end results: Net income in the first quarter of 2025 was $82.8 million Total deposits were $23.8 billion Net loans were $15.8 billion Total assets were $27.1 billion Near the end of the quarter, FirstBank closed the sale of its California Market and four branch locations, successfully transitioning all California accounts and branches to California Bank and Trust (CB&T), a division of Zions Bancorporation. The sale was an important move for the bank, allowing it to focus more on strategic growth opportunities in Colorado and Arizona. "The decisions FirstBank makes are strategically aimed at long-term growth," said Kevin Classen, CEO of FirstBank. "We will continue to invest in small businesses and local initiatives that drive progress and create a lasting impact." Moreover, the bank continues to support small businesses with its "It Takes Courage" video series, which highlights small businesses taking a leap of faith to make their big business dreams come true. About FirstBank FirstBank began providing banking services in 1963. Today, it's known as an industry leader in digital banking. It has grown to be one of the top-performing and largest privately held banks in the United States. FirstBank offers a variety of consumer deposit accounts, home equity loans, mortgages, rental property loans, and a full range of commercial banking services, including business financing, commercial real estate loans, treasury management, and more. Since 2000, FirstBank has been recognized as a top corporate philanthropist, contributing more than $90 million and thousands of volunteer hours to charitable organizations. The company is also unique in that a large portion of its stock is owned by management and employees, giving employees a financial stake in the bank's success through its Employee Stock Ownership Program. For more information, visit Member FDIC. CONTACT: Media Contact Cody Wheeler (303) 228-6986 x 148 cwheeler@
Zawya
27-05-2025
- Business
- Zawya
Nigeria's banking brands dominate
For the fourth year running, Access Bank is Nigeria's most valuable brand. Accounting for 59% of ranking's total brand value, banks dominate the Nigeria's brand value growth in 2025 Accounting for 59% of the ranking's total brand value, banks dominate Nigeria's brand value growth in 2025. Pictured: Lagos, Nigeria. The top four strongest Nigerian brands are banks, led by United Bank for Africa and First Bank of Nigeria, while Fidelity Bank Nigeria has more than tripled its brand value to become fastest-growing Nigerian brand. Most valuable brands In 2025, Access Bank retains its position as the most valuable Nigerian brand for the fourth consecutive year, having more than doubled its brand value to NGN893.3bn. Dangote Cement (brand value up 74% to NGN562.5bn) holds second place, supported by robust profits and a commanding market presence, while GTCO (Guaranty Trust Holding Company) rises to third, nearly tripling its brand value to NGN524.7bn. Other top banks show solid performances. Zenith Bank (brand value up 80% to NGN 454.8bn) retains fourth, United Bank for Africa (UBA) (brand value up 58% to NGN341bn) drops to sixth, and First Bank of Nigeria (brand value up 168% to NGN289bn) remains in seventh position, all demonstrating resilience despite inflation and currency volatility. Strongest brands Notably, UBA and First Bank of Nigeria are the top two strongest Nigerian brands in 2025, while UBA also ranks as the 13th strongest banking brand globally among the top 500 banking brands. Food brand Flour Mills Nigeria drops to fifth place, despite a 40% increase in brand value to NGN452.9bn. The brand reported strong revenue growth for 2024, driven by higher sales across its food, agro-allied, and sugar businesses, even in the face of Nigeria's tough macroeconomic environment. Further down the top 10, BUA Cement (brand value up 63% to NGN138.7bn) rises to ninth place, while banking brand Stanbic IBTC (brand value up 206% to 229.5bn) climbs from 13th to eighth position. GLO Mobile (brand value up 138% to NGN130.4bn) rises five places to enter the top 10. Meanwhile, beer brand Hero Lager (brand value down 51% to NGN42.1bn ) has dropped from ninth rank to 20th in 2025, reflecting a decline in the Nigerian alcoholic drinks market. Brand strength analysis The Nigeria 25 2025 ranking highlights considerable shifts in the country's strongest brands, with banking brands rising through the ranks to dominate the top 10. This demonstrates a growing recognition of the sector's resilience and adaptability, particularly as financial services play an increasingly crucial role in driving Nigeria's economy forward. United Bank for Africa has risen from ninth position in 2024 to become the strongest Nigerian brand in 2025, with a BSI score of 92.4/100 and a corresponding AAA+ rating, the highest accolade for brand strength awarded by Brand Finance. UBA performs strongly across all key research metrics, earning notably high scores in brand familiarity, preference, and consideration, indicating strong consumer trust and loyalty. Notably, the bank scores exceptionally well on price acceptance, outperforming other leading African peers - such as Capitec in South Africa and Equity Bank in Kenya - on this metric. During this past year, UBA has prioritised digital banking, innovation, and technology investments, which are crucial drivers of brand strength in Africa's banking sector. The focus is aimed at improving the customer experience and deepening engagement with consumers going forward. First Bank of Nigeria has risen from 11th position to second for brand strength, noting a BSI score of 92.1/100 and a corresponding AAA+ rating. The bank excels across key metrics, including familiarity, reputation, consideration, and preference. This improvement reflects its strong focus on innovation, digital transformation, and delivering exceptional customer experiences. First Bank's strategic initiatives have significantly enhanced its market position and brand perception, reinforcing its leadership in the sector. GTCO has fallen from first to third place in brand strength, despite a slight increase in its BSI score to 89.5/100. Meanwhile, Access Bank has moved up to fourth place, rising from 12th in 2024, driven predominantly by improved performance across key research metrics. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Zawya
23-05-2025
- Business
- Zawya
Nigeria: Tinubu, Cardoso's reforms drove my $201mln investment in First Bank —Otedola
Billionaire investor Femi Otedola has credited President Bola Ahmed Tinubu's economic reforms and Central Bank of Nigeria (CBN), Governor Yemi Cardoso's policy initiatives for creating the enabling environment that led to his N320 billion investment in First Bank. Speaking at the 13th Annual General Meeting (AGM) of FBN Holdings Plc, the holding company of First Bank, Otedola revealed that the investment was entirely self-funded and marks a strategic commitment to rebuild Nigeria's oldest bank into a dominant financial force across Africa. 'This journey aligns closely with the bold and visionary leadership of President Bola Ahmed Tinubu, who deserves credit for championing the tough but necessary reforms in our economy,' said Otedola, who currently serves as Chairman of First Holdco Plc. 'I also commend the Governor of the Central Bank of Nigeria, Mr. Yemi Cardoso, for his courageous and pragmatic policy reforms. His actions are restoring credibility to the financial system and giving investors like me the confidence to commit long-term capital to this country.' Otedola emphasized that the current business climate, shaped by structural reforms and a more disciplined financial sector, has rekindled investor interest in Nigeria's long-term prospects. Recounting his journey, Otedola disclosed that he began investing in First Bank in 2021 after exiting his interest in Forte Oil Plc. He stated that his acquisition was far from a speculative move, but rather a calculated strategy to transform the institution into a well-governed, digitally robust, and profitable bank. 'This was not a gamble; it was a calculated, strategic move to rebuild First Bank into a modern, well-governed, and highly profitable institution,' he said. He confirmed that his total investment already exceeds N320 billion—all in cash and without any borrowed funds—and that more capital will be injected as First Holdco prepares for its next capital raise. 'By the end of the capital raise, my personal investment will surpass N320 billion. I am confident the bank will meet its recapitalization target well ahead of the Central Bank's deadline,' he added. Otedola also used the AGM to reinforce his role as an activist shareholder with a zero-tolerance approach to corporate excess and inefficiency. 'My mandate is clear: curb excesses and wastages—no splurging on private jets, unchecked executive luxuries, etc. Protect depositors' funds, deliver strong returns to shareholders, and contribute meaningfully to the society and environment we serve and operate in.' He declared that the era of executive excesses is over, with strong corporate governance, responsible lending, and operational discipline set to define the bank's new era. 'We will dominate Africa's banking space,' Otedola said confidently. Outlining his vision, he announced plans to scale up First Bank's digital infrastructure, expand its international footprint, and enhance its lending capacity. 'Let me say it again: First Bank will not just compete—it will dominate. Within the next four years, we will be one of Africa's top banks—not just by asset size, but by value creation, governance standards, and strategic impact.' Drawing a parallel with his turnaround success at Geregu Power Plc—now responsible for 10% of Nigeria's electricity output—Otedola expressed confidence that First Bank is on a similar path. 'I have done this before. I know what it means to fail, rise up, and win. First Bank is no different. It's a turnaround with a purpose, and we are well on our way.' Otedola's bold move signals renewed confidence in Nigeria's banking sector, especially amid regulatory calls for stronger capital buffers and stricter governance. His endorsement of Tinubu and Cardoso's reforms is likely to strengthen market sentiment among local and international investors. 'We are back. We are profitable. And we remain on course in our aggressive pursuit to be the foremost financial institution in Africa,' he concluded.
Yahoo
13-05-2025
- Business
- Yahoo
First Bank Scores Big for Local Youth: Donates $26,600 to the Hurricanes Foundation Following Thrilling Season Partnership
RALEIGH, N.C., May 13, 2025 /PRNewswire/ -- First Bank is thrilled to announce a successful and impactful partnership with the Carolina Hurricanes Foundation for the 2024-2025 season! For every exhilarating goal scored by the Canes throughout their action-packed season, First Bank pledged $100 to the Foundation. The final buzzer has sounded on the regular season, and thanks to the Hurricanes' electrifying performance, including a well-deserved playoff berth that is currently underway (Go Canes!), First Bank is proud to donate a total of $26,600 to the Carolina Hurricanes Foundation. The check was presented at the playoff game Monday night at Lenovo Center. You can view the full presentation HERE This collaboration immersed First Bank in the passionate "Caniac Nation," as representatives and customers joined fellow fans at home games. The lively First Bank tee shirt tosses amplified the excitement. "We were incredibly excited to partner with the Hurricanes Foundation this season. The energy of the games and the dedication of the fans were infectious, and we're even more thrilled that the team's success on the ice translates into a significant contribution to such a worthy cause. Go Canes!" said Adam Currie, CEO and President of First Bank. The Carolina Hurricanes Foundation is dedicated to supporting youth hockey programs, providing educational opportunities, and assisting families in need across North Carolina. First Bank's donation will directly support their ongoing efforts to make a positive impact in the community. "We are deeply grateful for First Bank's generous support this season. Their unique 'Power of Good Goals' initiative was a fantastic way to engage fans and raise vital funds for our community. This donation will make a real difference in the lives of young people across the state," said Amy Daniels, Executive Director of the Carolina Hurricanes Foundation. As the Hurricanes continue their playoff journey, First Bank extends its enthusiastic support and looks forward to a potentially unforgettable end to the season. This partnership underscores First Bank's commitment to the communities it serves, both on and off the ice. For more information on the Carolina Hurricanes Foundation and its programs, please visit and to learn more about First Bank's Power of Good visit About First Bank: First Bank is the banking subsidiary of First Bancorp and is headquartered in Southern Pines, North Carolina, with total assets of approximately $12.2 billion. As a state-chartered community bank, First Bank operates 113 bank branches in North Carolina and South Carolina and a nationwide SBA platform. Since 1935, First Bank has taken a tailored approach to banking, combining best-in-class financial solutions, helpful local expertise, and technology to manage a home or business. First Bancorp's common stock is traded on the NASDAQ Global Select Market under the symbol "FBNC." Visit our website at Member FDIC, Equal Housing Lender. About the Carolina Hurricanes Foundation As the charitable arm of the Carolina Hurricanes, the Foundation takes pride in being a part of the community both on and off the ice. The Foundation strives to be an agent of change by meeting the health and educational needs of underserved populations in the community where we work, live, and play. For more information on the Foundation, please click here. About the Carolina Hurricanes The Carolina Hurricanes were established in Raleigh in 1997 after relocating from Connecticut, where the National Hockey League franchise was originally founded in 1979. Since their arrival in North Carolina, the Hurricanes have captured six division championships, two Eastern Conference titles and the 2006 Stanley Cup championship. The team also hosted the 2004 NHL Draft and the 2011 NHL All-Star Weekend at Lenovo Center, as well as the 2023 NHL Stadium Series at Carter-Finley Stadium. For information about Hurricanes ticket packages, please visit or call 1-866-NHL-CANES (1-866-645-2263). View original content to download multimedia: SOURCE First Bank Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
