Verus Bank closing its branch in Loveland

LOVELAND – Fort Collins-based Verus Bank of Commerce will close its branch in Loveland this September, bank chief executive Gerard Nalezny confirmed Thursday.

The branch’s close proximity to the bank’s Fort Collins branch, a lease window and overall reduced use of bricks-and-mortar bank branches nationwide led to the decision to close the branch, Nalezny said.

The Loveland branch, located at 102 E. 29th St., is eight miles from Verus’ headquarters at 3700 S. College Ave. in Fort Collins. Verus’ clients in Loveland were consulted before the decision was made, and it was determined that there would be “minimal client impact,” Nalezny said.

In addition, no staff reductions will be made, he said. All employees from the Loveland branch will relocate to work in Fort Collins.

Verus has obtained approval from regulators to close the branch, Nalezny said.