First Green Bank Reports Big Increase in Loans, Revenues, Assets

MOUNT DORA, Fla. – First Green Bank, headquartered in Mount Dora with branches in Downtown Orlando, Clermont and Ormond Beach, reported its net income from January through May 30 at more than 406,000 or $259,000 ahead of budget. Kenneth E. LaRoe, founder, chairman, and chief executive officer of First Green Bank said loan volume for the same period totaled $180 million or $13 million over projections. The bank’s total assets have also grown faster than projections, LaRoe said. First Green Bank reported its assets total more than $231 million or $10 million over projections. First Green Bank plans to open a fourth branch on S. Orlando Avenue in Winter Park in January. The bank recently acquired the property with a 6,000 square foot retail building. “We are currently rehabbing the building to LEED Gold standards and expect to complete the work in time to open our new Winter Park facility in early 2014,” LaRoe said.