- April 26, 2024
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CEO recognized for social and environmental activities.
Wayne Grant
News Editor
First Green Bank, 175 W. Granada Blvd., is becoming even greener. It recently completed a major makeover that included several initiatives to make the building more environmentally friendly.
Ken LaRoe, founder and CEO of the bank, which is headquartered in Mount Dora, has described himself as both a capitalist and an environmentalist. He said you don’t have to choose between the two, and they are in fact complimentary.
“I was blessed with a grandchild a few months ago and that brought it home to me that we need to have a livable earth,” he said in a recent interview.
A 20.14 kilowatt solar panel system was installed on a reflective roof of the Ormond Beach branch which will supply nearly all of the building’s electrical needs. Water faucets and toilets, windows and the entire HVAC system were replaced with more efficient designs.
LaRoe also said the building was not properly insulated and that has now been remedied. He said the interior now has carpet and paint that has no “harmful toxins.”
Planned improvements include a permeable parking lot, which will allow rain to soak into the ground, and native landscaping that won’t require much water.
Aside from having the satisfaction of being environmentally friendly, Laroe said there is a significant savings in water and electricity.
In general, the bank saves more than 50% in energy costs through the use of “green” features, according to Robbie Gossett, executive assistant to LaRoe.
LaRoe said he is going for certification from Green Globes, a nationally recognized rating system. According to the Green Globes website, the benefits of environmental improvements include tax incentives, employee retention and increased marketability.
Entrepreneur of the Year
LaRoe’s environmental concern was one reason he was presented with the Ernst & Young Entrepreneur of the Year award for Florida in the Financial Services category at a gala dinner in June in Orlando. There were 10 other winners in the state in various categories.
Other initiatives that led to the award, according to First Green spokeswoman Sydney Hirst, were a solar energy grant program, a minimum $30,000 wage for all employees and the bank’s involvement with a nonprofit company to bring awareness to health issues around the world.
LaRoe said a person does not have to be a bank customer to apply for a grant to install solar energy. At the beginning of each year, the bank determines how much to fund the solar grant program, based on the prior year profits, LaRoe said. Also, employees contribute to the solar grant fund, by paying a fee to have a “casual dress” day.
“I want people to come to Florida and see all the solar power and say, ‘Look what they are doing in Florida,’” LaRoe said.
The bank also has loans available for solar installation.
LaRoe said the $30,000 minimum salary, instituted last year, has worked out well and improved employee retention.
“It’s been fantastic,” he said. “It also makes us more careful in hiring.”
The nonprofit company that LaRoe works with is called Clean the World. He said it was started by someone who noticed the soap left over in hotel rooms, and found a way to recycle it for usage around the world where soap was needed. The organization now has several other activities.
First Green Bank was included in Depositaccounts.com, in its 2015 edition of its Top 200 Healthiest Banks in America for the second consecutive year. Criteria included deposit growth and capitalization.
