March 2023
To First American’s Clients, Colleagues and Business Associates,
In 2022, First American reached new heights, serving more clients than any year in company history. Our new business volume reached a company record of $1.87 billion, up 35.8% year-over-year. This significantly outpaced 2022 industry growth of 6.3%, which provides us evidence that the differentiated services and tools we deliver are appreciated by our clients.
First American serves some of the largest and most sophisticated organizations in the United States. We are proud to work with the nation’s most prestigious universities, renowned hospitals, innovative manufacturers, and leading professional service firms. Our clients’ missions matter to us, and we are incredibly grateful to play a small role in their success.
Our record-breaking year was made possible by the inspiring work of 300 talented colleagues. This team handled a 2+ year pandemic with poise and persistence. They brought our HQ2 to life and today we have a state-of-the-art workplace built for a post-pandemic world. They dug in to make hybrid work, work. And each day, they demonstrate a passion for serving clients that is unmatched. They truly inspire me.
Our long-term vision is to become the best company to work for and the best company to work with. In 2022, our work toward that vision was recognized with several awards:
- #1 - Best Large Companies to Work For in New York
- #1 - Top Midsize Workplace in Rochester
- #49 - FORTUNE 100 Best Workplaces for Parents in U.S.
- #59 - FORTUNE 100 Best Medium Sized Workplaces in U.S.
- #39 - FORTUNE 100 Best Workplaces for Millennials in U.S.
- #97 - People Top 100 Companies That Care in U.S.
- #22 - Selling Power 50 Best Companies to Sell For
Our clients directly benefit from our success as we continue to modernize the client experience for finance leaders. Our FA Experience digital platform streamlines management of critical projects, while our My Finance Advantage vendor finance platform enables companies to offer financing to end customers with ease. With a team of 142 Certified Lease & Finance Professionals - the largest number of any company globally - our industry specialists can concentrate on delivering exceptional service to clients, specialized to their industry.
Our success is most meaningful because it enables us to give back. In 2022, the company and our colleagues donated over $200,000 and 2,600 volunteer hours to 95 non-profit organizations. I am most proud of our approach to philanthropy, which enables colleagues to “Captain their Cause” and leverage First American to make a larger impact with the non-profits colleagues care about. Our annual Impact Report details our approach and the remarkable work of our people.
There has truly never been a more exciting time to be in the financial services industry. In the final months of 2022, we watched in amazement as generative A.I. became mainstream. While First American has been exploring advanced technologies for years, as an economy, we are only beginning to assess the impact this profound advancement can have on our day-to-day work. I am confident that the bright minds at First American will continue to lead the way in leveraging technology to take client experience to the next level.
Sincerely,
Alan Sikora
CEO