The story of Firstrust Bank represents the essence of the American Dream.

Founded in the throes of the Great Depression, the bank’s fascinating narrative is one of entrepreneurial risk-taking, resilience in the face of adversity, continual adaptation and growth, community service, and family legacy.

Samuel A. Green, a Hungarian immigrant who arrived in the United States with $8 in his pocket, started the bank in 1934 in South Philadelphia to serve the homeownership needs of his community. Ninety years later, Firstrust is the largest family-owned financial institution in the region and has $5.2 billion in assets.

The bank is celebrating its 90th birthday this month, a significant achievement considering that only about 0.5 percent of all companies last 100 years. The U.S. Bureau of Labor Statistics reports that only 36 percent of companies last even 10 years, and about 21 percent survive to their 20th anniversary, further illustrating the exceptional nature of Firstrust Bank’s 90th year in business.

Firstrust Bank’s milestone is affirmation of its dedication to excellence and how its customers feel secure in their choice of banking partner, knowing they are in capable hands that have stood the test of time. After all, with age comes wisdom.

Having weathered the storm of nine decades of economic downturns, booms, and busts, Firstrust Bank has not only seen it all but has learned how to navigate the complexities of various market cycles. This knowledge is invaluable for businesses seeking guidance, and so the bank’s seasoned advice can help businesses strategize, grow, and, most importantly, survive and thrive during tough times. It’s also a direct benefit to customers and offers them insights and services that are honed by years of experience.

Firstrust Bank has beaten the odds, thanks to its foundation of strong family values and how it manages its business with a purpose of cultivating prosperity for its customers, employees, and communities.

“When my grandfather came to this country, he worked various jobs and taught himself English at night at the Free Library,” said Richard Green, Samuel Green’s grandson and the Owner and Executive Chairman of Firstrust Bank. “When the banks in Philadelphia would not lend money to immigrants in his neighborhood, he took it upon himself to go from door to door to raise $7,500 in deposits, so he could start the bank in my great-grandmother’s kitchen. And we still do business from that location today at Point Breeze Avenue in South Philadelphia.”

Richard Green, who was recently named one of the 150 Most Influential Philadelphians by Philadelphia magazine, described his grandfather as more than a banker.

“He was a consummate salesman, an idea man,” he said.

In a letter to the bank’s customers in 1969, Samuel Green shared his insights from surviving the Great Depression:

“The Depression occurred when I was in my middle years,” he wrote. “It left me with a strong sense of survival, a feeling of being tested. It developed for me a more flexible mindset, a resilient spirit, and a high heart, which helped me solve my difficulties and gave me the confidence to try to help solve the problems of others.”

Those values remain the bedrock of Firstrust Bank.

“The success of Firstrust has been possible thanks to the dedicated, hardworking, smart, and capable men and women who have worked at our enterprise over the years,” said Richard Green. “Ninety years of anything is a lot. Since I’ve been coming around this institution when I was five years old, breaking teller machines and throwing water balloons at staff, my work experience here represents more than 80 percent of the current lifespan of Firstrust. It’s been a privilege and honor to watch it grow.”

And grown it has.

Firstrust is not just a bank but a family of businesses, including Apex Commercial Capital and Firstrust Financial Resources, that offer a wide range of financial solutions. Its subsidiaries also include Hatch — a digital-first bank that improves how people save, spend, borrow, and send money by creating strategic relationships with fintech companies — and Verde Ventures, which focuses on fintech investments.

Additionally, the bank’s commitment to community service is evident in its partnerships with various charitable organizations. It actively supports causes like autism research and advocacy (through the Eagles Autism Foundation), enriching the lives of children with disabilities (through Variety — The Children’s Charity of Delaware Valley), and building affordable homes (through Habitat for Humanity).

“Our story resonates — we are a family business; we like financing other family businesses,” said Tim Abell, who succeeded Richard Green as the bank’s CEO last year. “Five billion dollars is big enough to fund a lot of (client) transactions, but small enough to keep our relationships. We have plenty of room to grow.”

Learn more about Firstrust Bank and explore captured moments from Firstrust Bank’s 90-year legacy of a family-owned bank that has grown with its community, fostering trust and stability through generations.