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First GREEN Bank

Website FirstGreenBank
Location USA
Key figures Impact story


Our Mission is to do the right thing for:
• The Environment
• Our People
• Our Community
• Our Shareholders


Mr. LaRoe planned to retire after selling Florida Choice Bank in 2006, and he set out with his wife on a lengthy, soul-searching journey across the U.S. in a mini motor home. Along the way he began reading a book his brother had given him: “Let My People Go Surfing,” by Yvon Chouinard, founder of Patagonia, the highly successful outdoor clothing and equipment company. Chouinard’s philosophical approach to business greatly influenced Mr. LaRoe. He became convinced that business can be holistic: in addition to making a profit, business can have a positive impact on society. Chouinard developed a business model which integrated his principles and professional acumen, and he was able to experience enduring success without the degree of ethical compromise that often counters the contributions business leadership is capable of making to our environment and culture.

In 2009, after being granted the last bank charter in the state of Florida, Mr. LaRoe opened First GREEN Bank, the first bank in the eastern United States with an environmental and social mission. Mr. LaRoe is the largest shareholder, CEO and Chairman. In May of 2012, First GREEN Bank also became the first financial institution in the eastern United States to be granted membership in the Global Alliance for Banking on Values (GABV).

Management Board

• Kenneth E. LaRoe, Chairman and CEO
• Melissa Atkins, CFO
• Nancy Hoff, Senior Vice President

Market Focus, Products and Services

Virtually every aspect of the operation of the bank has been evaluated and programs implemented to maximize the values proposition. A summary is as follows:

  • All internal operations are as sustainable as possible;
  • All facilities are built to the highest level: LEED Platinum Headquarters, Mount Dora; LEED Gold, Winter Park; LEED Certified, Orlando; Upgrades to Ormond Beach and Clermont;
  • Electric vehicle charging stations at most locations;
  • Co-worker Benefits: Cash incentive for hybrid or electric vehicle purchase; 0% financing on hybrid vehicles and on solar panel loans; Complimentary use of hybrid loaner vehicle; Complimentary charging stations for electric vehicles; Highest indoor environmental quality; LEED Accreditation scholarship available; on-site personal trainer; employer-sponsored wellness benefits; reimbursement of athletic event / gym memberships; 100% medical, dental & vision premiums; 100% life insurance, AD&D, short-term and long-term disability premiums; 401k with 100% employer matching up to 6% with no vesting period; generous paid vacation and sick leave; paid sabbatical for any social or environmental mission; tuition reimbursement; mission specialist program;
  • Participation with GABV Scorecard development and implementation;
  • Participation in the U.N. Natural Capital Declaration development and implementation;
  • Living Wage program.

Key figures for First GREEN Bank

* Figures in USD million
** Based on local currency
Total Assets383330248200164
Total Loans317248199150119
Total Deposits328288212177142
Total Equity4338282221
Equity /Total Assets11,2%11,6%11,3%10,8%12,8%
BIS 1 Ratio12,1%13,7%12,9%12,6%14,6%
Total Revenue14,111,79,37,55,7
Net Income3,02,01,40,90,5
Total Loans/Total Assets82,9%75,2%80,1%74,8%72,8%
Total Deposits/Total Assets85,7%87,4%85,6%88,5%86,8%
Loan Growth **28,0%24,6%32,9%25,7%44,0%
Deposit Growth**13,7%35,7%20,0%24,8%35,2%
Cost/Income Ratio65,9%73,0%77,7%81,6%75,4%
Return on Assets0,84%0,70%0,60%0,46%0,38%
Return on Equity7,4%6,3%5,4%4,0%3,1%

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