The Faces of Banking for Good
FirstBank’s diverse leaders bring its mission of “Banking for Good” to life
ColoradoBiz showcases the personalities behind the companies in a range of industries and in all stages of development, from startups to stalwarts.
Colorado’s largest locally owned bank is no stranger to doing the right thing. After the SBA announced its Paycheck Protection Program (PPP) last April, FirstBank set out to help as many small businesses as possible.
Hundreds of leaders and individuals across the company – from IT to Human Resources – worked in 24 hour shifts to process applications, upgrade technology systems and ensure everything was operationally sound.
At the same time, the bank also extended financial relief to underserved companies, partnering with the Gates Family Foundation to deploy $25 million in funding to veteran, woman-owned businesses and businesses of color. And it connected with Asian, Hispanic, Black/African American Chambers throughout its trade areas to help members access PPP funding.
In the end, FirstBank provided $1.4 billion in PPP loans to 14,000 businesses, and saved approximately 110,000 jobs.
Their commitment to strengthening communities didn’t end there.
Internally, FirstBank increased workplace flexibility, mental health support, diversity training/education, and continued adding more women and individuals of color to its leadership teams.
Externally, it enacted several multicultural outreach initiatives, affordable housing programs and grants to better serve diverse groups. It also contributed nearly $4 million to nonprofits in 2020, many of which work to eliminate economic disparities.