People to Watch: Ken LaRoe

BY MARCIA BIGGS

Photo/Ken LaRoe

Growing up in Eustis in Central Florida, Ken LaRoe never really considered himself all that different from his peers. He grew up with a natural respect for all living things and a desire to keep the land, the water, and the air clean and healthy for future generations. “I’ve always been an environmentalist from when I was a teenager,” says the new founder and CEO of Climate First Bank. “They just didn’t have a name for it then.”

Climate First Bank’s mission focuses on supporting environmental sustainability by providing residents and businesses with aff ordable green loan options for everything ranging from residential and commercial solar panel loans to LEED-certified retrofi tting to auto loans for EV and hybrid vehicles and charging stations. What they won’t do is support funding for industries that are not environmentally friendly.

“We have an exclusionary policy that we won’t loan to certain businesses, like anything that’s extractive like water bottling, mining, dirty energy, drilling like fracking,” he explains. “My specialty has been small businesses, the backbone of America. Nothing is more fulfilling than helping a small business thrive. And if they want to reduce their carbon footprint, we can help with that, too.”

The bank will place a special emphasis on non-governmental organizations (NGOs) and businesses committed to sustainability, he added.

But back to Ken LaRoe.

After college and degrees in business and law, LaRoe found himself in the banking industry building two community banks from the ground up in Florida. The first, Florida Choice Bank, grew to more than $400 million in total assets before he sold it in 2006.

Not knowing precisely where his career path was headed, that’s when he read the book “Let My People Go Surfi ng: The Education of a Reluctant Businessman,” by Yvon Chouinard, the outdoorsman and environmentalist who in 1973 founded Patagonia, a clothing and equipment company based in Ventura, CA. Patagonia is considered a global role-model for its environmentally and socially responsible business practices. It was one of the early members of the global B Corp movement, which advocates for businesses to become a force for good, not just profit.

“I read that and thought, ‘that’s what I want to do,’” LaRoe said. “I want to do something more than just make a bunch of people money. I want to do something that gives back.”

More motivated than ever, he opened First Green Bank in 2009, the first community bank in the Eastern United States with a mission to promote positive environmental and social responsibility. The bank provided low-interest commercial loans to support green initiatives such as solar and wind energy projects. LaRoe sold the bank to Stuart-based Seacoast Bank in 2018.

After a two-year hiatus, LaRoe decided to continue his banking career by opening a “valuesbased” community bank founded on fi ghting the climate crisis. His search for a fl agship location ended up focusing on Tampa Bay and when La Roe was invited by Mayor Rick Kriseman and a group of business leaders to come take a look at St. Pete, he liked what he saw. “It was a compelling pitch,” he said. “It’s a good market, a good community fi t. St. Pete had all the right boxes checked.”

You could almost say St. Pete and Climate First Bank are a match made in heaven. In 2008, the city was recognized by the Florida Green Building Coalition as the first Green City in Florida. An Office of Sustainability & Resiliency with a city sustainability director was created in 2015, and now a forward-thinking city council has created a Health, Energy, Resiliency and Sustainability Committee to support the development of innovative environmental solutions across all neighborhoods. As a coastal community facing ongoing challenges in the fi ght against sea level rise, St. Petersburg is clearly a city that needs to take climate change seriously.

Climate First Bank, St. Petersburg FL

LaRoe opened Climate First Bank in early June in an environmentally friendly ocean blue home on Central Avenue. He’s renting the space now, but created strict measures to be carbon neutral (practices that offset the production of carbon emissions), incorporating eco-friendly practices from low VOC paint to recycling. He hired a staff of senior executives and local professionals who share his collective mission to do the right thing.

While he still makes Central Florida his home, La Roe and wife Cindy are looking for a residence in St. Pete. “The last 9 years of my life has been a journey to do better and better and see what a diff erence I can make,” he says. And, of course, he walks the walk. He drives a Prius, is a committed recycler, and his house is covered in solar panels.

Plans are to expand Climate First with branches across Central Florida, including Tampa and Winter Park, he adds.

Climate First Bank is located at 5301 Central Ave. in St. Petersburg. To learn more, go to climatefi rstbank.com or call (727) 335-0500.

Grand Opening Week

Climate First Bank celebrates their grand opening with an “Endless Solar Week” July 12-17. Stop by and get to know Climate First Bank and its unique mission to fight the climate crisis.

Tuesday, July 13 — Business Professionals Starlight Mingle from 5 to 8 pm. Meet Ken LaRoe and sample wine and cheese selections locally sourced and prepared.

Thursday, July 15 — Craft Beer Tasting and Market from 4-7 pm. Free giveaways; local vendors and artisans.

Saturday, July 17 — Hello St. Pete! from 9 am – 1 pm. Family--friendly indoor/outdoor summer gathering featuring food trucks, ice cream, vendors, and giveaways.