Publisher’s Notebook: Bank on it: Acquisitions, mergers, will continue

Compass, FirsTier deal just the latest

Compass Bancshares Inc. of Birmingham, Ala., purchases FirsTier Corp. of Northglenn for 6.8 million shares of common stock.

Wells Fargo & Co. acquires 1st Choice Financial Corp. of Greeley, gaining its $420 million in assets and locations throughout Northern Colorado.

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First National Bank of Longmont announces a merger with First State Bank of Fort Collins.

These are just some of the latest in banking mergers and acquisitions affecting the region’s financial-services scene.

They won’t be the last.

A wave of such activity has swept across Northern Colorado during the past five years and before, and not even a potential economic slowdown is likely to halt the activity.

National and local banks alike are seeking a greater presence along the Northern Front Range. Wells Fargo was able to solidify its presence locally by snapping up 1st Choice Bank, one of the biggest locals around, and Compass gained a nice foothold in the Northern Colorado and Denver markets with the purchase of FirstTier and its $900 million in assets.

As locals grow, they become candidates for acquisition, in what is likely a never-ending cycle.

Acquisition will come eventually for Centennial Bank of the West, a fast-growing Greeley-based banking company with locations all along the Interstate 25 corridor.

In the meantime, Centennial and others are staking their claims to those business customers who prefer locally owned banks. Bank of Colorado, Colorado Community Bank, The Home State Bank, American Bank, FirstBank, Advantage Bank, First National Bank of Yuma, Weld County Bank and Cache Bank & Trust are just a few of the locally owned banks adding assets and customers throughout the region.

Add to the mix other nationals such as Bank One, U.S. Bank and KeyBank, and smaller regionals such as First National Bank of Fort Collins and Loveland, Union Colony Bank in Greeley, Community First Bank and others.

What you have remains an extremely competitive banking market, with Northern Colorado businesses and consumers enjoying some of the most competitive interest rates in the nation.

This competition serves the customer well. Those who prefer dealing with large financial institutions have some of the biggest right here from which to choose. Those who prefer a local lender have plenty of options, too. Both types of banks have their advantages, and both will continue to battle it out in one of the country’s most competitive banking markets.