Mile High chief sees merger as capital idea

Longmont-based Mile High Banks is looking to merge.

That’s the word from David Allen, president of the bank.

Mile High is “looking for possible banking partners as we speak,” Allen said recently. In Boulder County, the bank has its corporate office at 1726 Hover St. in Longmont, another branch in Longmont, a branch in Boulder and 10 other full-service branch locations in Colorado.

As Allen looks for a partner with which to merge, he said he also is working to improve the bank’s balance sheet.

The bank’s capital ratios fell dangerously low in recent quarters, based on Federal Deposit Insurance Corp. call reports,…