Letter from the CEO

January 2022

To First American’s Clients, Colleagues and Business Partners,

As we approach the two-year anniversary of a pandemic that has touched and challenged all of humanity, I continue to be immensely proud of my First American colleagues. The path from March 2020 to today has not always followed a straight line, but we have managed to “stay the course” and overcome many hurdles along the way.
 
While our perseverance has been impressive, it pales in comparison to the sheer determination shown by many of our clients in 2021. We are grateful to have played a small role in the successes of many industries that have kept our country afloat during this pandemic– schools that educate children, manufacturers that create jobs, technology companies that innovate, logistics companies that keep our world moving, and hospitals that save lives. Our team is deeply humbled to support their missions.
 
In the final days of 2021, First American’s equipment finance portfolio surpassed $3 billion for the first time. For perspective, it took us 22 years to get to $1 billion, 3 years to get to $2 billion, and 26 months to get to $3 billion. This milestone was possible because of the 285 talented and dedicated professionals who passionately serve clients and grow our business.
 
Our parent company, City National Bank, an RBC company, also continues to grow and succeed. We are proud to be a part of such client-focused and well-respected financial institutions.
 
Our success this year enables us to think big, with our bold long-term vision to become the best company to work for and the best company to work with. We are on our way, as we were honored with several awards in 2021:

  • #1 - Best Large Company to Work For in New York
  • #1 - Top Midsize Workplace in Rochester
  • #2 - Top Workplaces USA (150-499 FTE)
  • #5 - FORTUNE 30 Best Small/Medium Workplaces in New York
  • #15 - FORTUNE 100 Best Workplaces for Millennials in U.S.
  • #18 - FORTUNE 100 Best Medium Sized Workplaces in U.S.
  • #25 - Selling Power 50 Best Companies to Sell For
  • #49 - Great Place to Work 100 Best Workplaces for Parents

Our clients benefit from our success, as we have invested in a modern equipment finance experience for financial executives. Our digital platform, FA | Experience, helps clients manage their mission-critical projects; and our vendor finance platform, My | Finance Advantage, allows companies to efficiently provide financing to their end customers. This allows our industry specialists—which include 144 Certified Lease & Finance Professionals (more than any company in the world)—to focus on providing the outstanding service for which we are known. 
 
We also are grateful for the support we received from our colleagues and clients in the communities we work and live in. In 2021, First American donated over $140,000 across 75 non-profit organizations. Together, we funded 183 school projects, planted 1,596 trees, donated 15,000 meals and logged over 1,500 hours of volunteer time. When we work together, we can make meaningful impact.
 
As we anticipate the long-awaited return to our “new normal” this year, we look forward to making our new headquarters “home,” to serving our new and returning clients, and to increasing our employee roster of the country’s best and brightest industry professionals. I am grateful to work beside them every day and I appreciate the amazing journey we are on together. Thank you.

Sincerely,

 
Alan Sikora
CEO

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First American Commercial Bancorp, Inc. is a wholly-owned subsidiary of City National Bank. Deposit products and services are offered by City National Bank Member FDIC. City National Bank is a subsidiary of Royal Bank of Canada. For California clients: Loans made or arranged pursuant to a California Finance Lenders Law license. All trademarks are the property of their respective owners. Additional terms apply and can be found by visiting faef.com/terms.

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