First Green Bank Hopes to Turn Lake County ‘Green’ one Customer at a Time, says Bank’s Chief Executive Officer

EUSTIS, Fla. – When Eustis native Kenneth LaRoe capped a successful career by selling Florida Choice Bank in 2006 he and his wife Cindy set out on a lengthy, soul searching journey across the U.S. in a motor home.

“I retired,” LaRoe explained.

Along the way he began reading a book his brother had given him: Let My People Go Surfing, by Yvon Chouinard, founder of Patagonia, a highly successful outdoor clothing and equipment company.

“Chouinard’s philosophical approach to business influenced me greatly,” LaRoe said. “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. 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.”

When LaRoe returned, he decided to put his philosophy to work.

“I have been a committed environmentalist all my life,” LaRoe said. “Efficient, wise use of our resources — conservation — is a fundamental virtue and an economic necessity,” he said.

LaRoe returned to Eustis with a new passion: How to put his principles to the test in the banking business.

“I began talking with some of my colleagues and friends and we got very excited,” LaRoe said. “We wanted to create a business that would be both profitable and focus on doing the right thing. Those two concepts aren’t mutually exclusive.”

First Green Bank now has locations in Clermont and Eustis and will open its new headquarters facility in Mount Dora in October, with a third full service branch opening in Volusia County before the end of the year.

The 12,000 square foot First Green Bank headquarters building, under construction on U.S. 441 in Mount Dora was designed by Environmental Dynamics, Inc. emphasizing energy efficiency and water conservation while utilizing recycled and healthy building materials. Both the interior and exterior of the building were meticulously planned to minimize environmental impact during construction as well as over the long term. Even the siting of the building was chosen to minimize costs and maximize efficiency.

“It should exceed the LEED Platinum standard set by the U.S. Green Building Council for energy efficiency, environmental sensitivity and the safety, security and comfort of its customers, workers and the community. The goal was to fuse form and function in the design of our headquarters, and a great deal of time and thought went into achieving that synergy,” LaRoe said.

Visually reminiscent of Frank Lloyd Wright’s mature, organic style, the building has a remarkable “Butterfly Roof,” which funnels collected rainwater to a 75,000 gallon storm vault. The stored rainwater provides 100 percent of the water used in irrigating the landscaping, which was sustainably designed to utilize plants native to the Florida ecosystem.

An additional 80,000 gallons of HVAC condensate water per year will be captured to a subterranean storage cistern and used to flush toilets and irrigate interior vegetation systems. The multitude of windows on the structure optimize the use of natural sunlight and provide over 90 percent of those working inside with external views, while the efficient fluorescent and LED fixtures provide interior lighting that uses 62 percent less electricity than a standard lighting scheme.

LaRoe’s environmental principles mesh perfectly with his conservative business principles, he said.

“Our headquarters building will use approximately 66 percent less energy than a traditionally designed building of the same size, and be 79 percent more water efficient. Overall efficiency gains of this size will result in a measureable reduction in operating expenses over time. ” LaRoe said.

First Green Bank supplies its couriers with hybrid Toyota Prius vehicles, and provides a Prius as an employee loaner vehicle for use on local business as well as extended personal trips.

“Reducing our carbon footprint is a critical component of our business model. If we can do business in way that reduces the amount of greenhouse gases produced by burning less fossil fuels for electricity and transportation, we not only save operating costs, we also have less environmental impact. We encourage our customers to do likewise, and support those that do by providing complimentary electrical vehicle charging stations at all of our branch locations,” LaRoe said.

“All of us hope that through education and influence that we can change attitudes,” LaRoe said. “We can show people there is a better way.”