February 2025

To Our Clients, Colleagues and Business Associates,

First American is proud to serve many of the largest and most sophisticated organizations in the United States. Our clients include the nation’s most prestigious universities, renowned hospitals, innovative manufacturers, and leading service firms. We are honored to contribute to the missions of these impressive organizations.

As more clients choose First American each year, our company continues to rise within our industry, ranking #14 among the largest bank-owned equipment leasing companies in the U.S., as reported in the 2024 Monitor 100. New business volume surpassed $2.08 billion, and our portfolio of leased assets grew to a record $4.41 billion. These achievements reflect the confidence our clients have placed in us, and we are committed to supporting their success.

First American is a dynamic environment filled with talented, dedicated professionals who not only excel in their roles, but also invest time in building a best-in-class workplace and giving back to the community. This commitment was recognized by PEOPLE magazine as one of the “100 Companies That Care in 2024,” and I am proud to see First American ranked alongside well-known companies like NVIDIA, Target, and Zillow. Our progress toward our long-term vision, to become the best company to work for and the best company to work with, was recognized with several additional awards in 2024:

• #1 - Best Large Companies to Work For in New York
• #1 - Top Midsize Workplaces in Rochester
• #4 - Fortune Best Workplaces in Financial Services & Insurance
• #9 - Top Midsize Workplaces USA
• #14 - Fortune Best Workplaces for Millennials
• #16 - Fortune Best Medium Sized Workplaces
• #21 - Fortune Best Workplaces for Parents
• Selling Power 60 Best Companies to Sell For
• Monitor Best Companies in Equipment Finance – Culture Category

Client loyalty has always been a core focus at First American, and we have maintained a decades-long practice of gathering survey feedback to ensure our modern client experience meets the evolving needs of our audience. Last year, clients rated their overall experience with First American an impressive 3.94 out of 4.00, while highlighting lease customization and digital experience as standout features. Most importantly, clients expressed high appreciation for our team members, with 95% of returned surveys awarding perfect scores for service.

Each year, businesses in the U.S. lease and finance more than $1 trillion of capital expenditures—demonstrating our tremendous potential for continued growth. First American is a subsidiary of City National Bank, a Royal Bank of Canada (RBC) company, and we are proud to be a part of institutions that share our passion for client service. As we continue to build on our 30-year legacy with our available resources and exceptional team, the opportunity ahead of us has never been greater.

Sincerely,