First Green Bank is First in Florida accepted in Global Alliance for Banking on Values

MOUNT DORA, Fla. – First Green Bank, the Lake County-based bank that ranks as one of the greenest banks in the U.S., has been accepted as the first Florida bank to join the Global Alliance for Banking on Values, the leading independent network of banks to foster sustainable banking practices worldwide.

Kenneth LaRoe, chairman and chief executive officer of First Green Bank, said the Global Alliance for Banking on Values was founded in 2003 and currently has 16 members in 12 countries worldwide, including the U.S., Canada, Norway, Denmark, Switzerland, Germany, The Netherlands, Italy, Peru, Bolivia, El Salvador, Bangladesh and Mongolia.

“First Green Bank is the first U.S. bank east of the Mississippi River to be accepted in the Global Alliance for Banking on Values,” LaRoe said.

LaRoe said the Global Alliance for Banking on Values was founded to offer bankers an alternative to the dominant banking model that has alienated people and whole nations as a result of the current economic crisis.

“The Alliance is comprised of member banks who strongly desire to foster sustainable banking practices, to manage banks that are responsible community institutions,” LaRoe explained.

“There is a real and urgent need for a value-based banking model that seeks to finance entrepreneurs who build their enterprises, create job growth and support communities,” LaRoe said.

Global Alliance for Banking on Values member banks report combined assets of more than $26 billion with banking operations in 24 countries.

First Green Bank, with branches in Ormond Beach and Clermont has assets as of May 31 of $190 million.