First National first tenant for first Centerra building

A development on the northeast corner of Boyd Lake Avenue and Colorado Highway 34 in Loveland is experiencing a lot of firsts.

It’s the first of its kind for the massive Centerra development, the 3,000-acre planned community on the east side of Loveland. The project recently broke ground on its first building after signing on its first tenant, which happens to be First National Bank.

Dubbed High Plains Neighborhood Center, the corner will eventually grow into a grocery-anchored neighborhood shopping center. The vision is to have a variety of service-oriented businesses, such as a movie rental shop and a dry cleaner, according to Kerrilyn O’Rourke, marketing manager for McWhinney Enterprises.

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Other details are sparse. No leases have been signed, nor is McWhinney in negotiations for others right now, O’Rourke said.

But earth is being moved at the corner. Construction on the bank began in early January. The 16,000-square-foot, two-story building will be completed in the summer. Fred Jacobs, director or marketing for First National said the branch should be open for business by mid-summer, possibly in July.

The branch will be the second in Loveland for the region’s largest local bank.

“We knew we wanted a second location in Loveland and the McWhinneys have done an excellent job of making the entire Centerra area a center of activity, so it seemed like a good fit,´ said Duane Rowe, executive vice president of retail banking for First National. “We think the location lets us effectively serve current customers while allowing us to reach a new audience of commercial and residential customers.”

Rowe added that the bank had been looking at the area for a couple of years now. Shay Eikner, president of the existing Loveland branch, will also act as president of the new branch.

First National has had a presence in the downtown Loveland area since 1995. As of June 30, the Loveland office represented 11 percent of the bank’s total deposits. It was the third biggest deposit draw of the bank’s eight branches last year, behind the main office and another Fort Collins location.

While bank branches have been sprouting in vast numbers throughout Northern Colorado (See column, page 19) First National has been relatively cautious about adding locations, but apparently not to its detriment. First National maintains the largest market share in Larimer County by a wide margin, according to the Federal Deposit Insurance Corp. report. However, the bank ranks third in Loveland’s deposit market.

But it’s not just about the numbers.

“This one will be fun for us,” Jacobs said of the branch.

The new office will follow the regional trend of co-branding with other businesses. Not only will customers be able to manage their investments, apply for a mortgage and make a deposit, but they will also be able to get their caffeine fix.

First National will lease about 1,100 square feet in the new building to Loveland Coffee Co. Better yet, the coffee shop will have its own drive-thru to complement the bank’s drive-through.

Kim Schatz, owner of the 20-month-old shop, said she wasn’t interested in opening a second location when the bank officials first approached her with the idea. But their desire to partner with a locally owned business is a value she holds dear for her own company.

In addition to coffee, Loveland Coffee Co. offers smoothies, frozen drinks and other non-coffee options, as well as pastries and bagels. The new location, she added, will likely serve light lunch items.  

The bank and the coffee shop fill two of the many needs of a neighborhood center. The anchor and other tenants have yet to be announced.