In Issue 5 of the California Bankers Association Magazine, Brian E. Argrett, CEO of GABV member City First Bank shares his inspiring journey and leadership vision, underscoring the vital role of values-based banking in promoting economic opportunity and community empowerment.
Brian E. Argrett is a seasoned leader in the banking and finance sector with a deep commitment to economic opportunity and community empowerment. Since 2011, he has served as CEO and director of City First Bank, and in 2023, he was appointed chair of the bank and its parent company. With a background spanning law, private equity and public service, including a presidential appointment to the U.S. Treasury’s Community Development Advisory Board, Argrett brings decades of experience in impact-driven finance.
From founding Fulcrum Capital Group to leading national boards and initiatives focused on underserved communities, Argrett’s work continues to shape a more inclusive financial system. He also participates in the Global Alliance for Banking on Values (GABV), helping to drive forward a global movement of ethical, purpose-driven banking.
Can you tell us about your journey to becoming the CEO of City First Bank? What inspired you to pursue a career in banking?
My path to CEO of City First Bank was not traditional (if there is such a thing) and in many ways, I consider myself to be an accidental banker. I came to banking specifically with a passion and desire for using finance and capital to help individuals pursue their dreams and fully participate in the advantages of our society and country. Professionally, I started as a transactional real estate attorney in Los Angeles and then spent the next 20 years there leading a private equity investment fund focused on financing and partnering with entrepreneurs of colour and women in growing their lower middle-market businesses. The use of leverage and the participation of traditional banks were always key elements to the success of their growing businesses, and as their equity and debt partners, we took part in bridging that process and those relationships. It was powerful and great fun.
I also had the wonderful opportunity during that time to sit on the board of directors of two different southern California-based community banks and participate in their leadership, growth and ultimate sale. So, my path from a professional standpoint was entering the field from a finance and bank governance perspective, and from a personal perspective, from a deep belief that capital was an essential tool to helping individuals realize their full potential for themselves, their businesses, their communities, and their families. Leading alongside at City First Bank was a natural and powerful convergence of those professional experiences and personal drivers.
City First Bank has a strong commitment to community development. How did your personal values align with the bank’s mission?
Full overlap and complete alignment! Both sides of my family have a multigenerational legacy of driving for education, community empowerment, political awareness, entrepreneurialism, and personal faith in action in their histories and purpose. I wanted to also find my lane to live up to my purpose and leadership in a way that really makes a difference in people’s lives.
At City First Bank, we exist and operate with intention. Our singular purpose on the ground is serving and empowering those communities, organizations and individuals who might otherwise have diminished access to the traditional banking system.
We do that in a powerful way of providing great expertise, beneficial products, personal service, and trusted partnering, but with a targeted and intentional focus on those communities where we believe we can have the greatest impact and, quite frankly, where as a society we also have the greatest amount of catching up to do. It’s banking with values, clear intention, and unquestionably on purpose.
What is your leadership philosophy, and how does it influence the bank’s culture and operations?
My leadership philosophy extends directly from the core purpose and intention of my institution. None of us can achieve in a vacuum, it takes deep partnering, great collaboration, and the smartest and most dedicated people and partners to be successful in serving our community and supporting real progress. In this instance, this intentionality requires urgency, initiative, low ego, and creativity because we really are trying to do something different and hard, while relying on the honed and successful practices of community banking. In partnering, we must break down barriers to achieve real trust, accountability, and high expectations of each other to move the business, our customers, and our higher purpose forward and we simply cannot compromise on that.
Unquestioned individual excellence and commitment, and deep teaming — it is an interesting paradox! I think it translates into a culture of smart, really hard-working, dedicated colleagues with a passion for excellence in executing the Bank’s critical mission.
Read the full interview on California Bankers Association’s website here.
Originally published in Issue 5, 2024 of the California Bankers Association.
