Managing EditorBOULDER — The Bank in Boulder is changing its name to the First National Bank of Colorado, unveiling a new logo and is on track to open more branch banks in Denver, Westminster and Broomfield by mid-2001.
The name change became effective Oct. 16, after the name had been tweaked earlier from The Bank of Boulder to the Bank in Boulder in January 1999. The most recent change was made to eliminate confusion for customers as the bank adds more branches, said Dave Gilman, president and chief executive officer.
The local name change comes on the heels of the announcement that Firstar Corp., based in Milwaukee, is buying Minneapolis-based U.S. Bancorp, the parent of U.S. Bank, which has banks in Boulder, Broomfield, Longmont and Lafayette. The deal, a stock swap valued at nearly $19 billion, creates the eighth-largest bank holding company in the United States. The combined company will operate under the U.S. Bancorp name, keeping the U.S. Bank name on its local banks.
Since the Bank in Boulder was founded in 1973 at 3033 Iris Ave. in Boulder, it has opened branches in Boulder, Longmont, Broomfield and Louisville, each having its own name, such as The Bank in Boulder, The Bank in Longmont. “Customers often wondered if they opened an account in Boulder, could they bank in Louisville, and the answer has always been yes,” Gilman said. “So we chose a common name to make this clear.”
The new name was purchased from The Bank of Colorado in Steamboat Springs after it was acquired by Vectra Bank, Gilman said. Although there are many banks with first national in their names, Gilman said the new logo is distinctive and will be easily recognized.
Backed by parent bank First National of Omaha, Gilman is expanding with new branches near significant retail locations in growth areas, he said. The Denver branch will be at 17th Street and Glenarm Place in the Qwest Towers. In Westminster, a branch will be built at the northeast corner of Wadsworth Boulevard and Church Ranch Road. And in Broomfield the branch will serve the FlatIron Crossing/Interlocken area from the corner of Interlocken Loop (formerly 96th Street) and Interlocken Boulevard.
Gilman said the Denver branch will open in December, Westminster branch in March and the Broomfield branch in June. The new branches will create about 40 jobs, he said.
First National Bank of Colorado has assets of $470 million. Deposits at its headquarters are about $280 million; $60 million in Louisville; $50 million in each branch in Boulder and Longmont; and $30 million in Broomfield.
The new branches will be much like existing branches with about 5,600 square feet, six drive-up lanes of which one is an automatic teller machine.
Gilman said he’s entering the bank-filled Denver market because “we need a presence there.” That branch will offer trust and private banking and personal real estate lending, he said.
The Bank in Boulder earlier reached an exclusive agreement with the new FlatIron Crossing in Broomfield for ATMs in the mall as well as currency services for the retailers there. Busy has been so brisk in the mall’s food court, Gilman added, that they may add another ATM there. Gilman also said the mall banking center soon will add video kiosks, where customers will be able to access their accounts and speak live to a bank customer service representative at the bank’s Boulder headquarters.
Gilman said new branch presidents will be named about 60 days prior of a branch’s openings.