LAKEWOOD, Colo., Feb. 07, 2022 (GLOBE NEWSWIRE) -- FirstBank, one of the nation’s largest privately held banks with a focus on “banking for good,” was recently honored at the Martin Luther King, Jr. Business Awards ceremony for its commitment to empowering diverse communities. The award recognizes people or organizations who have made exceptional contributions to the community in honor and memory of Dr. Martin Luther King, Jr.
The Asian Chamber of Commerce nominated FirstBank for the award, citing the organization’s work in helping to eliminate economic and social disparities through various grant programs, charitable contributions and affordable housing initiatives.
“FirstBank has always been driven by our core philosophy to do what’s right for customers, communities and employees, and we believe embracing our differences only makes us stronger,” said Tony Oum, FirstBank’s Executive Vice President of Multicultural Banking. “Our work in the community has shown us time and again that inclusion is one of our most powerful assets. We are deeply honored to be recognized for this award, and will continue to work towards a more equitable world within and outside of our organization.”
Among the reasons FirstBank was recognized: it established Colorado’s first Multicultural Banking Center (MBC) in 2020. The MBC joined the organization’s Spanish and Asian Banking Centers, where customers can receive financial services with an understanding of their culture and in their preferred language, including: Spanish, Mandarin, Cantonese, Vietnamese, Korean and Ethiopian dialects. The MBC also provides financial education classes, community collaboration opportunities and homeownership tools.
What’s more, FirstBank provided $1.4 billion in SBA Paycheck Protection Program (PPP) loans to 14,000 businesses, saving approximately 110,000 jobs. This included helping minority-owned businesses disproportionately affected by the pandemic. For instance, it partnered with the Gates Family Foundation to extend $25 million in financial relief to veteran, woman-owned businesses and businesses of color, and worked with Asian, Hispanic, Black/African American Chambers to help members access PPP funding.
The bank also contributed nearly $75 million to nonprofits since 2000, including many organizations focused on diversity, equity, and inclusion (DEI), and it introduced multiple affordable housing initiatives and grant programs for people of color.
With over half of its management roles filled by women and 40 percent of employees representing minority races, ethnicities, military, or ability statuses, FirstBank is also deeply committed to inclusivity within its organization, which represents a pillar of its brand and long-term strategy.
To learn more about FirstBank’s commitment to diversity, equity and inclusion, visit https://efirstbank.com/about-firstbank/diversity.htm.
About FirstBank
FirstBank began providing banking services in 1963. Today, it’s known as an industry leader in digital banking and has grown to be one of the largest privately held banks in the United States, maintaining more than $25 billion in assets and 110 branch locations across Colorado, Arizona and California. 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 nearly $75 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.
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Media Contact:
Chandra Brin
FirstBank
303-235-1402
chandra.brin@efirstbank.com
