Written by James Do, Market President & Head of Nonprofit Banking
Originally published in the Los Angeles Business Journal on August 4, 2025
Family-owned and privately held businesses increasingly rely on their banking partner to bolster their resilience and strategize for the long term amidst uncertainty.
From supply chain disruptions, spikes in material and labor costs, elevated interest rates, geopolitical uncertainties, and international trade tariffs, today’s economic environment continues to present many challenges, particularly for family-owned and privately held businesses.
In fact, according to the 2025 Economic Forecast Report from Los Angeles County Economic Development Corporation (LAEDC), in Los Angeles County, economic growth is projected to slow with Real GDP growth projected to be at 2.1% in 2025 and 1.3% in 2026, a slowdown from 2024’s 3.4% growth. The report also finds that the cost of doing business in Los Angeles remains approximately 20% higher than the national average, continuing to pressure local businesses.
With many of these market challenges in recent years, there has been a notable shift in how businesses have increasingly relied on their banking partners for expertise and guidance beyond traditional banking services to help them build resiliency and strategically plan for the future.
Businesses need their banking partner to serve as a crucial ally in navigating complex challenges and achieving sustainable growth. This shift has led businesses to seek deeper partnerships with their banks, requiring a comprehensive perspective and service model.
The evolution of today’s business needs requires:
A Partner in Resilience and Growth
At First Bank, we put our clients first and understand the people behind them.
In helping our clients navigate today’s challenges and steward their businesses, we deliver a comprehensive partnership that extends beyond just focusing on business needs. Our tailored financial solutions focus on helping businesses take care of their employees, families, communities, and legacy.
What does a partnership with First Bank look like:
We also understand the importance of investing in the communities in which they live and work. People are at the heart of our business and providing exceptional service and uplifting our communities is our passion. Our commercial banking teams embody this principle.
By leveraging an ongoing strategic relationship with your banking partner, businesses can better weather uncertainty and lay the groundwork for future success.
Originally published in the Los Angeles Business Journal on August 4, 2025
Family-owned and privately held businesses increasingly rely on their banking partner to bolster their resilience and strategize for the long term amidst uncertainty.
From supply chain disruptions, spikes in material and labor costs, elevated interest rates, geopolitical uncertainties, and international trade tariffs, today’s economic environment continues to present many challenges, particularly for family-owned and privately held businesses.
In fact, according to the 2025 Economic Forecast Report from Los Angeles County Economic Development Corporation (LAEDC), in Los Angeles County, economic growth is projected to slow with Real GDP growth projected to be at 2.1% in 2025 and 1.3% in 2026, a slowdown from 2024’s 3.4% growth. The report also finds that the cost of doing business in Los Angeles remains approximately 20% higher than the national average, continuing to pressure local businesses.
With many of these market challenges in recent years, there has been a notable shift in how businesses have increasingly relied on their banking partners for expertise and guidance beyond traditional banking services to help them build resiliency and strategically plan for the future.
Businesses need their banking partner to serve as a crucial ally in navigating complex challenges and achieving sustainable growth. This shift has led businesses to seek deeper partnerships with their banks, requiring a comprehensive perspective and service model.
The evolution of today’s business needs requires:
- Expertise involving accounting, legal, and general business issues.
- Guidance on family wealth preservation, legacy planning, and community impact.
- Experience in navigating family and privately held business challenges.
A Partner in Resilience and Growth
At First Bank, we put our clients first and understand the people behind them.
In helping our clients navigate today’s challenges and steward their businesses, we deliver a comprehensive partnership that extends beyond just focusing on business needs. Our tailored financial solutions focus on helping businesses take care of their employees, families, communities, and legacy.
What does a partnership with First Bank look like:
- Guiding your business through tailored wealth and estate planning, premier banking services for you and your employees, community impact, and risk management strategies.
- Introducing you to our broad network of trusted professionals that we have partnered with to provide comprehensive expertise.
- Networking opportunities with other clients to facilitate learning through shared experiences.
- Supporting your community impact through volunteerism, charitable giving, and community investment loans.
We also understand the importance of investing in the communities in which they live and work. People are at the heart of our business and providing exceptional service and uplifting our communities is our passion. Our commercial banking teams embody this principle.
By leveraging an ongoing strategic relationship with your banking partner, businesses can better weather uncertainty and lay the groundwork for future success.
James Do
First Bank Market President
Head of Nonprofit Banking
(949) 476-3255
[email protected]
With over 17 years of experience, James Do serves as First Bank’s California market president and head of nonprofit banking. He leads a team of commercial and nonprofit bankers serving broad industries and diverse communities throughout California. He and his team are focused on providing tailored financing solutions, financial advisory and consulting services, and dedicated operational support to private and family-owned companies, mission based nonprofit organizations, schools, and religious institutions. Do earned his Bachelor of Science in Corporate Finance at the University of Southern California.
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