Jacksonville Welcomes Fastest-Growing New Bank: Climate First Bank
Jacksonville, Florida, is poised for a significant shift in its banking landscape as Climate First Bank, a St. Petersburg-based community bank focused on environmental sustainability, sets its sights on expansion in 2025. Since its launch in 2021, Climate First has emerged as the fastest-growing new bank in the United States, surpassing $850 million in assets by 2024 and establishing a new level of engagement in the local economy.
Embracing Sustainability in Banking
Climate First Bank aims to make a positive impact by promoting sustainable financial practices. Its vice president of SBA and commercial lending, Corey Jones, highlighted the bank’s mission to empower customers to use their finances as a force for good. “The Jacksonville economy is booming,” Jones remarked, emphasizing the community’s evolving business environment, which he believes is ripe with opportunities for green financing and sustainable practices.
Climate First’s Growing Influence
In 2024, Climate First Bank successfully built a significant $15 million loan portfolio, along with $6 million in deposits. Such figures indicate a strong foothold within the region. “We expect to grow even further and do well in 2025,” stated Jones, underscoring the demand for sustainable banking options.
High Demand for Green Financing
Jacksonville’s increasing awareness and shift towards sustainable practices create a high demand for green financing solutions. Jones pointed out that as Climate First becomes more engaged with the local community, more inquiries arise from sustainable companies seeking banking options that align with their values. “We’re here to bank these businesses and give them options,” he emphasized, illustrating the bank’s commitment to supporting eco-friendly initiatives.
A Response to Urban Growth
As the city continues to experience growth, commercial real estate development in Jacksonville is notably outpacing other areas of Florida, which have generally experienced a slowdown. “There’s a lot of positivity and a growing culture of progressive businesses in the market,” Jones explained. Climate First aims to capitalize on this momentum by offering lending services tailored to the needs of businesses prioritizing sustainability.
Plans for the Future
With plans set for expansion, Climate First Bank is prepared to drive further positive impact within Jacksonville. The city’s growing sustainability initiatives, coupled with its established educational institutions and recreational areas, make it an attractive market for the bank’s services.
By 2025, Climate First intends to deepen its roots in Jacksonville and enhance its lending portfolios to support various sectors looking to adopt sustainable practices. “This is a demand that we can meet,” Jones stated confidently, indicating an unwavering commitment to sustainable banking.
Conclusion
As Climate First Bank prepares for its expansion into Jacksonville, it surfaces as a promising player in the financial sector, focusing on programs that align with environmental sustainability and community development. With its innovative approach to banking, the institution is well-positioned to address the growing needs of businesses seeking sustainable financing solutions in the years ahead.
