Climate First Bank Founder Ken LaRoe to transition to Executive Chairman of the Board
ORLANDO, FLORIDA / ACCESSWIRE / January 15, 2025 / Climate First Bank (www.climatefirstbank.com), the world's first FDIC-insured digital community bank founded to combat the climate crisis, today announced that Lex Ford would be promoted to Chief Executive Officer (CEO) of the bank. Ken LaRoe, the bank's Founder and the driving force behind its current success, will continue to serve as the CEO of the bancorp holding company, but will transition to the role of Executive Chairman of the Board of the bank. The planned transition will take place immediately. As part of the transition, Lex will remain President of the bank.
In his new role as CEO, Lex will lead the bank's growth plan of reaching $10 billion in assets in 10 years, expand efforts to implement AI to drive efficiency, and continue to scale the bank's footprint nationwide. Lex will also continue to champion the bank's recent launch of tailored financial services to support the unique banking needs of cannabis businesses.
"The reality is, community banks typically fail because they are unable to manage succession planning. Climate First Bank is different - proactively promoting leaders means that we can reach our business goals and continue to make long-term, sustainable investments," said Founder Ken LaRoe. "Lex is the perfect person to lead the next growth phase of our bank. He's whip smart, thoughtful and passionate about our work. Most important: he deeply understands that Climate First Bank's success is not in spite of our mission, but because of it."
The planned leadership succession comes as the bank continues its remarkable growth trajectory - achieving more than $900 million in assets in just over three years of operation. This unprecedented growth solidifies the bank's position as the fastest-growing new bank in the United States since 2009. This leadership transition demonstrates the bank's commitment to perpetuity and ensuring the long-term sustainability of the organization for generations to come.
Incoming bank CEO Lex Ford added, "I am honored to take on the role of CEO at such a pivotal moment for Climate First Bank. Our recent growth reflects our amazing team, our commitment to sustainability and consumers' demand for innovative financial solutions. We have a series of significant developments on the horizon that will help us not only expand the bank's footprint, but make meaningful investments into long-term, climate-resilient solutions. I'm thrilled to get to work."
Lex Ford brings a wealth of experience and a proven track record of success to the CEO role. During his tenure at First Green Bank, Lex held the title of Wingman to the Executive Chairman. In this role he successfully launched Florida's first cannabis banking platform and captured the entirety of the market. Prior to that role, Lex was the Senior Credit Officer of First Green Bank, focusing on ensuring the credit quality and operations of the $500 million bank. Following First Green Bank's sale to Seacoast National Bank, Lex remained at Seacoast and maintained a portfolio of over $200 million in business. These roles gave Lex the experience needed to begin leading Climate First Bank in 2021 as President.
In addition to its impressive asset growth, Climate First Bank has recently expanded its services to include cannabis banking and structured finance. The cannabis banking division, launched in partnership with Green Check Verified, provides tailored, secure, and compliant financial solutions for Florida's cannabis businesses. The structured finance division, led by Ryan Jaskiewicz, focuses on factoring and asset-based lending, offering businesses liquidity by leveraging assets such as receivables, inventory, and equipment.
Climate First Bank remains committed to its core values of sustainability, community engagement, and financial innovation. The bank's continued success is a testament to the hard work and dedication of its employees, customers, and stakeholders.
About Climate First Bank
Recognized as the fastest growing new bank in America since 2009, Climate First Bank is the world's first FDIC-insured, values based, digital community bank founded to combat the climate crisis. A Certified B Corp, 1% for the Planet member and operationally net-zero since it opened its doors in June 2021, the Bank offers a complete, full-service portfolio of simple and easy-to-use traditional banking products powered by technology to meet the expectations of today's consumers. In addition to offering standard banking services, the company places a special emphasis on non-governmental organizations (NGOs) and businesses committed to sustainability. Eco-conscious customers will find dedicated loan options for solar photovoltaic (PV), energy retrofits and infrastructure to help combat the climate crisis. The Bank reports annually on its impact in line with corporate social responsibility goals. Read the most recent Impact Report here. Member FDIC.
For more information, please visit: www.climatefirstbank.com.
Contact Information
John Collins
Collins Strategy Group
john@collinssg.com
(917) 496-4587
Rachel Kent
Marketing Director
rachel.kent@climatefirstbank.com
5186693550
SOURCE: Climate First Bank
View the original press release on accesswire.com
