Key plans Boulder center; Lafayette State expanding

One bank is moving into Boulder County, while another is strengthening its presence.

In December, Key Bank announced that as part of a $22 million statewide expansion, it will open a Boulder Financial Sales Center in the third quarter of 1998.

Key, Colorado’s sixth largest bank, currently is looking within the city limits for locations to buy or lease. According to Chris Arnold of KeyCorp, the bank will make a decision on its new facility in the next several months.

The Financial and Sales Center will be Key’s first location in Boulder, and is part of the bank’s plan to have a presence in the metro area’s affluent regions. The 4,000- to 6,000-square-foot Boulder Center will be a full-service bank with private bankers, small business lenders, investment professionals and corporate lenders.

Key also announced it will open seven KeyCenter locations by the end of 1998, including one in Broomfield. These 2,000-square-foot, boutiquelike offices generally are located in strip malls or shopping centers with grocery store anchors.

Arnold says KeyCorp has not yet decided on a location in Broomfield.

Four days after Key detailed its expansion plans, Lafayette State Bank made some news as well, with an announcement that it will open a small-scale branch office in downtown Louisville. The branch will be the sixth in the bank’s chain.

Chief Executive Officer Bob Beauprez says the branch will occupy 1,150 square feet on the main floor of the century-old building at 801 Main St. The branch, which will be known as the Louisville Banking Center — Main Street, is scheduled to open with two employees, and will include an ATM machine and an after-hours depository.

Beauprez believes the bank’s presence on Main Street will contribute to downtown development. The historic building the bank will be located in is being renovated by Hartronft Associates and will include offices and a restaurant.

The downtown branch will compliment the full-service Lafayette State Bank at the Louisville Banking Center at McCaslin Avenue and Century Drive, Beauprez says. He plans on an April opening of the Main Street office.