‘Sustainable’ is the Standard for New Breed of Community Banks, Says First Green Bank Chairman Ken LaRoe

Kenneth M. LaRoe

Mount Dora, FL --- “Sustainable” is the standard for a new generation of bankers who aim to make a difference along with a profit in the market that’s emerged since the collapse of too-big-to-fail Lehman Brothers four years ago.

Kenneth M. LaRoe, chairman of First Green Bank in Mount Dora, said sustainable banking practices will steer the industry back to its original course---stable and solid financial returns and resiliency through strong capital positions---and restore the world economy.

A critical industry analysis issued last month by the Global Alliance for Banking on Values---a worldwide network of proponents of sustainable banking practices---proves LaRoe’s point.

First Green Bank Headquarters, Mount Dora, FL

“Sustainable banks allocate almost twice as much of their balance sheet to lending to the real economy than the too-big to-fail banks,” LaRoe said. 

“Dominant big banks lend less, attract fewer deposits and have a weaker capital base than sustainable banks, and financial results over the last 10 years show sustainable banks are resilient, support the real economy, and provide stable returns,” he said.

LaRoe, whose First Green Bank opened its award-winning headquarters facility in Mount Dora last year and a branch facility in bustling downtown Orlando recently, said sustainable banking practices form the core of First Green’s expanding business model.  First Green Bank also has locations in Ormond Beach, Clermont and a planned branch in Winter Park sometime next year.

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 For a complete copy of the company’s news release, please contact:

Kenneth E. LaRoe, CEO and Chairman, First GREEN Bank, 352-483-9100, ken@firstgreenbank.com

Paul Rountree, President, First GREEN Bank, 352-483-9100, paul@firstgreenbank.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 or 407-461-3780, lvershelco@aol.com