GREELEY — The seeming flood of new financial institutions to the area continues, as American Ag. opened here to serve needs of the farming and ranching communities.

The institution, capitalized at a little more than $40 million, is a branch of the Bank of Cherry Creek.

“We made a strategic decision to enter areas where we sense our larger banking brethren have pulled back (or are not serving a particular market), said Gary Mammel, president and chief executive officer of Bank of Cherry Creek and American Ag.

“That led us to agriculture,” he said. “We recruited four very strong people and took out a charter in Greeley. It affords us the opportunity to extend our reach and focus on medium to larger agriculture (loans).”

Operating the local office at 1901 56th Ave. are branch manager Greg Ludlow, Ester Lopez, Dale Tanaka and Dave Skinner.

“I’ve got the finest agriculture banking team,” Mammel said, noting that the four have deep roots in the community.

Ludlow acknowledged that agriculture lending has become more competitive in Northern Colorado and southern Wyoming, but he feels American Ag. will draw business from all over the region.

Bank of Cherry Creek also is affiliated with American National Bank of Cheyenne, Mesa National Bank of Grand Junction, Western National Bank of Colorado Springs and First National Bank of Boulder County.