$850M St. Pete Bank shifts leadership with promotion within

Climate First Bank is making leadership leaps for the first time since its inception almost four years ago. Founder and CEO Ken LaRoe is now shifting to executive chairman of the board and will remain CEO of the holding company. Bank President Lex Ford will now step into the role of CEO while retaining the title of president. 

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"The reality is, community banks typically fail because they are unable to manage succession planning. Climate First Bank is different — proactively promoting leaders means that we can reach our business goals and continue to make long-term, sustainable investments," says LaRoe in a statement. "Lex is the perfect person to lead the next growth phase of our bank. He's whip smart, thoughtful and passionate about our work. Most important: he deeply understands that Climate First Bank's success is not in spite of our mission, but because of it."

Ford will be tasked with expanding on the bank's recent initiatives, which include AI implementation and financial services tailored for cannabis businesses. He is uniquely suited for the role, given his previous experience in leadership roles at First Green Bank where he launched Florida's first cannabis banking platform according to a statement. 

Climate First Bank bills itself as the world's first FDIC-insured digital community bank founded to combat the climate crisis. It was founded in St. Pete in 2021 and focuses on serving clients aligned with its values, which include combating climate change and striving for eco-conscious sustainability. It has $858.12 million in assets, according to Federal Deposit Insurance Corp. data.