FIRST GREEN BANK CHAIRMAN TELLS SHAREHOLDERS OF BANK'S UNIQUE NICHE MARKET, EXPANSION OPPORTUNITIES

Mount Dora, Fla. --- Kenneth LaRoe, chairman of First Green Bank in Mount Dora, told shareholders at its meeting recently of the bank’s unique mission – which is to foster local economic growth, sustainable business practices and environmental awareness through the communities it serves. The bank now has branches in Clermont, Ormond Beach and downtown Orlando and will open another one in Winter Park by the end of the year. LaRoe told shareholders that First Green Bank has opened doors to important new segments and unexpected opportunities for growth. LaRoe, who conceived First Green Bank’s “green” mission in 2009, said new and emerging niche markets represent major areas of growth for the bank, which now has branch facilities in Clermont, Ormond Beach and downtown Orlando in addition to its award-winning headquarters facility on U.S. 441 in Mount Dora. “Solar energy, energy retrofits, lighting retrofits, community supported agriculture, faith-based organizations and non-profits are growth segments of the new economy and are also endeavors we want to help foster,” LaRoe said. “Older, larger sustainable banking organizations are having tremendous success in those sectors. Those sorts of enterprises are very receptive to our approach to sustainable community banking,” LaRoe said. Before First Green Bank opened its downtown Orlando branch, a multi-million dollar manufacturer of sport accessories contacted the bank to open a commercial account. The reason? “They are a green company and they wanted a green bank,” LaRoe said. First Green Bank’s recent admission to the Global Alliance for Banking on Values, an independent network of the world’s leading sustainable banks from Asia, Africa, Australia, Latin America, North America and Europe with assets of more than $60 billion in 25 countries, has also opened new doors. “The Global Alliance owns a mutual fund that has approached us as an investment opportunity,” LaRoe said. “We anticipate they will invest as much as $5.7 million over the next couple years,” he said. First Green Bank’s first stock offering has raised more than $5 million so far and LaRoe expects to reach the $10 million mark before the offering closes June 30. First Green Bank’s mission is a big draw for employees as well. “I can’t tell you how many experienced, highly qualified banking professionals have said they will take any position available just so they can take part in our effort,” LaRoe said. “It really makes me proud that there are so many people in banking, industry and community development who understand what we are trying to do and want to be a part of it,” he said. Last month, First Green Bank reported its assets now total more than $225 million. This year First Green Bank plans to open a branch office in Winter Park, LaRoe said. “We are growing, and we are starting to see some of the fruits of our efforts elsewhere in our communities,” LaRoe said. “The future is looking brighter for First Green Bank and for the Central Florida economy as well,” he said.