Colleague stability is key to sustaining our unique service culture and creating long-term relationships with our clients. In fact, more than 90% of the loans ever originated by First Republic Bank were done so by bankers who are still with us today, and we have a number of colleagues who have been with the Bank for the majority of our history. Our five-year average voluntary employee turnover, excluding temporary employees and independent contractors, from 2016 to 2020, was just 7%.
From the time they join the Bank, new colleagues are paired with more tenured colleagues who help them settle into the organization. In addition, new colleagues attend an orientation session and First Republic Flight School for a deeper immersion into our culture during their first 90 days.
To support our colleagues, we provide a wide range of professional development programs to educate them about our business and grow their capabilities. We also provide benefits that help our colleagues maintain financial, emotional and physical well-being at all life stages. In 2020, we offered additional benefits to help colleagues and their families cope with the challenges brought on by the COVID-19 pandemic. Our benefits are a reflection of just how much we care about our colleagues.
Colleagues who enjoy their work are better able to serve our stakeholders. Delivering unparalleled service is a demanding endeavor, so we take time to have fun and celebrate our colleagues’ successes. This includes hosting local events, such as Social Fridays, as well as annual companywide events such as our Halloween Parade. These events provide opportunities for colleagues to connect with one another and build relationships across teams.
Our Annual Service and Sales Conference recognizes colleagues who have significantly contributed to our growth and strong credit quality through their leadership in client service.
In 2020, with most of our team working remotely, our colleagues demonstrated their entrepreneurial spirit by creating new ways to engage with each other. For example, one colleague has hosted a weekly virtual talk show to keep colleagues connected while working from home. This started as a regional activity and expanded organically across the Bank. Other colleagues formed a parents group to provide support for families dealing with the challenges of home schooling and other challenges brought on by the pandemic.
We celebrate work anniversary milestones with gifts after the first year and every five years, and we have special service recognition at the 25-, 30- and 35-year milestones.