First Green Bank in Lake County reports loans, deposits up more than 50 percent over the last year

Eustis, Fla. --- Lake County’s First Green Bank, which has locations in Eustis and Clermont and plans to open a new 11,800 square foot headquarters facility in Mount Dora in mid-summer, reports its loan volume increased almost 50 percent during the year from May 2010 to May 2011, and its deposits have increased by more than 50 percent.

Kenneth E. LaRoe, chairman and chief executive officer of First Green Bank, said First Green reported year-to-date assets of $130 million as of June 1, up from $95 million during the same period last year.

Deposits of $123 million on June 1 were up more than 50 percent over last year’s mid-year total of $79 million.

LaRoe said he is most pleased that the bank’s year-to-date loan volume increased from $63 million at the mid-year mark in 2010 to more than $94 million on June 1, 2011.

“We have all heard how difficult it is to secure bank financing in this economic cycle,” LaRoe said. “At First Green Bank we are committed to serving our communities, and sound lending policies are the best way we know to stimulate the local economy,” he said.