FirstBank (Lakewood, CO) is headquartered in LAKEWOOD and is the largest bank in the state of Colorado. It is also the 74th largest bank in the nation. It was established in 1963 and as of March of 2023, it had grown to 2,561 employees at 103 locations. FirstBank (Lakewood, CO)'s savings rates are 9X the national average, and it has a B health rating.
A Dying Breed
FirstBank is one of the last surviving Colorado banks after deregulation in the 1980's. Almost all other banks here are national chains. I enjoy banking with FirstBank because they are Colorado owned and operated with locations all over the Front Range and I-70 mountain towns. I have also always received top customer service from FirstBank as they have friendly, knowledgeable employees. However, they really like to fee their customers. A $10 annual fee for a Visa Debit card? Foreign ATM fees (so if you visit any other state and use an ATM there, you get hit with a $2 fee); $8 cashiers check fee etc. I have checking/savings/overdraft line of credit and a Visa Signature credit card and I pay $30 a year in fees ($10 Visa Debit and $20 line of credit). Their savings rate is ridiculously low at 0.01%; however, if you upgrade to Premier Checking (requires $2,500 in the account at all times) you earn 0.05% and the $10 Visa Debit and $20 line of credit annual fees are waived. In recent years, FirstBank has oddly expanded into the Phoenix, AZ area and as such, they have started to play down the Colorado ties which has been disappointing as it feels less local.
Overall, if you want a convenient, friendly and Colorado owned bank you cannot find anything better. I always recommend having a credit union on the side for loans and better deposit rates, but banks do checking so much better.
Fraudulent Deceptive Bank
Have had the account open 4 mo they lost my deposit at the branch, upon opening the rep told me different from the actual policies so I was charge an overdraft fee one day after opening the account and the rep told me it's a common thing that happens (figures they should correct it) then I was charged a 34 nsf fee for over drafting .80 cents after a manager told me I didn't no how to bank.
Data as of Q1 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 18714 |
| Year Established | 1963 |
| Employees | 2561 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1% |
| Return on Equity - YTD | 23.4% |
| Annual Interest Income | $247.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2023vs Q1 2022 | $28.76B$28.85B |
| Loans | Q1 2023vs Q1 2022 | $16.41B$14.14B |
| Deposits | Q1 2023vs Q1 2022 | $25.09B$27.18B |
| Equity Capital | Q1 2023vs Q1 2022 | $1.29B$1.47B |
| Loan Loss Allowance | Q1 2023vs Q1 2022 | $156.4MM$146.3MM |
| Unbacked Noncurrent Loans | Q1 2023vs Q1 2022 | $24.4MM$15.0MM |
| Real Estate Owned | Q1 2023vs Q1 2022 | $2.0MM$6.3MM |
