The Community Bank Boost
We believe local investments yield significant returns. When we lend to local businesses, those funds often stay in our community, driving local growth!
Deposit Money
When you choose First Bank, your deposits make a local impact on our local community!
Loan
We return your deposits to the community through loans for local businesses, farms, and homes.
Money Multiplier
Imagine you deposit $10,000 with us. We keep 10%, or $1,000, in reserves (as mandated) and invest the remaining $9,000. That money is invested to local businesses enabling them to get local equipment or services from local suppliers. The suppliers then deposit that $9,000 back at First Bank. We hold 10% and lend out the remaining to a neighbor for home improvements. This cycle continues, turning that $10,000 deposit into approximately $90,000 in loans invested in our local economy. This is known as the money multiplier effect.
Benefit Community
Loans to local businesses help them grow and create jobs, which keeps our community vibrant. Employed residents deposit their earnings back into First Bank and spend locally, fueling the community. When money is deposited, invested, and spent locally, our entire community thrives!