First Green Bank Reports Growth in Assets, Cites the Improving Economy, Greater Small Business Activity

MOUNT DORA, Fla. – First Green Bank, the Lake County Community Bank with facilities in Mount Dora, Clermont and Ormond Beach, reports assets have grown from $130 million to $160 million during the 12 month period ending Dec. 31, 2011.

Kenneth LaRoe, chairman and chief executive officer of First Green Bank, said the bank added more than 200 new accounts during the 30 days surrounding the official opening of its new Mount Dora headquarters the first week of February and its new Ormond Beach branch the following Monday.

More than 50 of the new accounts are business accounts, LaRoe said.

“We attribute our strong growth rate to improvements in the local economy in Lake and Volusia Counties,” LaRoe said.

“We are beginning to see earmarks of a broader economic recovery, with small business activity and a healthier housing market,” he added.