Andrew Griffin, Regional Executive, First Bank

In an interview with Invest:, Andrew Griffin, regional executive at First Bank, talked about the bank’s expansion in most of the segments where it operates. He highlighted that a combination of experienced bankers, superior customer service and technology have allowed the bank to maintain and expand its client and deposits base despite a challenging banking environment. 

What have been the key milestones and achievements for First Bank over the past 12 months?

The past year has been challenging in the banking industry, specifically regarding competition for deposits and capital. We are fortunate to have experienced bankers and superior customer service. The combination of those factors has enabled us to not just retain deposits and clients but also to expand our client and deposit bases throughout the cycle, which was key for our Charlotte market. That is a huge milestone since low-cost deposits fuel our growth and our loan book’s and help us expand in many ways.

It is also noteworthy that in 2Q24, we were able to start expanding our net interest margins early in the cycle and sooner than most thought we would, including us. Moreover, we grew our loan book during the past year, which positioned us among the few banks that could take care of clients during the downturn that the banking industry has experienced.

We were also able to expand in most segments. The Charlotte region continues to deliver that type of performance for First Bank and our clients. For instance, our commercial loan book is very attractive and profitable for the bank. Our commercial and retail bankers aim to take a holistic view of clients and provide solutions and partnering. We take advising seriously, which together, with our bankers’ experience, ensures our clients keep coming back. 

What initiatives does First Bank have in place to support the Charlotte community?

The reason I work at First Bank is how we become ingrained in the communities we serve. That focus on doing good by our community has been part of our philosophy since our foundation in 1935. After almost 100 years, we have grown into a large community bank whose philosophy of doing good has expanded in all aspects, including financial wellness, inclusivity, education, and housing. We continue to expand and evolve that powerful mission in everything we do. 

We aim to be as innovative as possible in lending and supporting community development. For instance, we have made significant contributions to affordable housing and homeownership with over $155 million in low-income housing tax credits since 2017. We also have had 96 loans for affordable, multifamily housing development since 2012, $6.2 million in funding secured for development partners for Federal Home Loan Banks, and $1.2 billion in community development loans between 2004 and 2020 to revitalize low- and moderate-income areas. Additionally, focusing on local, our teams volunteer, serve on boards, donate funds and more.

What partnerships has First Bank developed to engage the community in the areas where it is present?

Our work with Habitat for Humanity and Red Cross is important to us. We have done about $49 million in loans for homeowners of Habitat for Humanity since 2019. Moreover, one of First Bank’s bankers, Jeremiah Hunt, recently joined the board of directors of Habitat for Humanity. In terms of food scarcity and supply initiatives, we work with food banks such as Second Harvest throughout the local community. Those efforts are important to us and to our employees as they really bring us all together at the bank. Just in November 2024 we donated over 21,000 pounds of food to communities in need, specifically with much of it going to Western NC. 

What is the strategy of First Bank to promote financial literacy?

Financial education is super important to us. Each Year we encourage our teams to get out and teach as much as we can and in 2024 we were able to teach thousands of students at over 130 schools in the Carolinas. But we took it a step further and understood it’s not just about financial education, it’s about creating motivated learners, one of the most important things about being motivated is reading. We support the First Bank Book Club that brings authors to schools, has put over 4500 books in the hands of students and houses books in nearly every branch of First Bank. We have another financial literacy program called First@Work that we provide as a benefit to our business clients. We want to be in front of their employees helping them with everything from car loans to homeownership and how to save. 

What is the most important factor that bankers should keep in mind to develop strong relationships with clients?

Once you have been a banker for more than 20 years, the most important thing you can do to advise clients is provide them your experience on what has worked and what has not worked. You need to understand where they are trying to get to, whether that means purchasing a vehicle, financing a piece of equipment, or helping them understand if it is time to sell. For instance, we are talking to a few clients about tuck-in acquisitions and helping them finance those. You always want to be a trusted advisor, and having those conversations means you have reached that point. 

What is the role that technology and digital solutions play in enhancing customer experience and competitiveness?

First Bank continues to invest a lot of money in technology and new products. Those are mainly in our treasury services area and include interfaces for online banking, deposit solutions, and bill paying that aim to enhance customer experience. Clients access our bank in different ways. We can compete with anyone in the market on technology, but the point is to improve the client experience. Many clients prefer to call us to bank but others prefer to do things online, so we continue to enhance that. Once you couple those technologies with our banker knowledge, you have a winning formula. 

What are the most important challenges and opportunities that community banks will face in the short term?

Community banking is strong as most clients want a nice balance between strong, experienced bankers and the enhanced technological side of things. That combination offers ways to access their money as well as advice. The future of community banking in Charlotte is extremely strong. Retail, commercial, and middle market clients want to access that banking experience combined with local, friendly advisors, quick decision-making and quality solutions and services. That is how we compete and what makes us a sought-after bank.

We do not need to go outside our market to make these decisions, which is an advantage compared to other banks that have a lot of red tape and bureaucracy that make it painful for clients to work with them. 

What is the strategy of First Bank to advance banking safety and security and protect its clients?

Fraud is an everyday focus for every bank. Technologies matter in this area, so we invest a lot of resources in technology for fraud detection. We also have well-trained people who can notice when something is a little off with a client or someone is trying to represent somebody they are not. Safeguarding our clients’ information and money is a challenge, but we do it well. We will continue to minimize any impacts of fraud on our clients and our bottom line.