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Dan Allen, former president of Mile High Banks, is the regional president of Northern Colorado for Sunflower Bank.
Todd Peyok, former manager of the Boulder market for Mile High, will be the president of a new branch in Boulder and Don Stroh, former manager of the Longmont market for Mile High, will be president of a new Sunflower branch in Longmont.
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Sunflower Bank will be competing with 31 other banks that serve Boulder and Broomfield counties. Sunflower Bank declined to reveal exact locations for the branches, but they are expected to open some time in October, Allen said. In the meantime, the three bankers are working in a temporary office in Longmont.
The company’s website lists three mortgage loan originator job openings for Colorado, posted June 21. More people will be hired before the bank branches open, Allen said.
“We’ll focus on an area we know. (We’ll) obviously explore other avenues, and if there’s a need, there, in the current banking environment, we’ll look to fill that,” Allen said.
Sunflower Bank has bank branches in south Denver, Canon City, Monte Vista and Pueblo. In all, the family-owned bank has $1.7 billion in assets and 33 locations in Kansas, Colorado and Missouri, said Phyllis Pickel, the bank’s executive vice president of corporate and relationship development.
Mile High Banks’ stock was bought by Strategic Growth Bancorp bank holding company in El Paso, Texas, for $5.5 million as Mile High’s parent company Big Sandy Holding Co. in Limon went through voluntary Chapter 11 reorganization. Mile High Banks operated independently from the holding company. Strategic Growth Bancorp recapitalized Mile High with up to $90 million of new capital in a transaction completed in January 2013.