The country’s first climate-focused bank, Climate First Bank, is scheduled to open in Florida on June 1, the company announced via email. Founded by environmentalist Ken LaRoe, the bank will make sustainable alternatives widely accessible to help combat climate change.
Opening in St. Petersberg, Florida, the full-service community bank will offer both commercial and personal banking services with a collective mission to do right by people, planet, community, and shareholders.
“Interest in the bank has been extraordinary. I’ve been getting calls from all over Florida and across the nation from people eager to invest in our mission,” said veteran banker and CEO Ken LaRoe in an emailed statement. “Very quickly we exceeded our minimum subscription of $17 million with $29 million raised to date.”
The company is founded on Environmental, Social, and Governance (ESG) principles and will be carbon neutral from its first operations. Banking operations will also focus on green loan options to help individuals and businesses operate efficiently using practices such as LEED certification or solar panels.
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“I’m ready to get our doors open and start investing in the future of our community through the sustainable development of our homes and businesses,” said LaRoe. “Climate First Bank (I/O) has some phenomenal local talent that understands the market and can provide the greater Tampa Bay area with a new, ethical way of banking.”
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