Loan production offices opening in Steamboat, Longmont

Broomfield-based Summit Bank & Trust opened its loan production office at 721 Oak St. in Steamboat Springs on Aug. 1, according to the Colorado Division of Banking.

The bank has received regulatory approval to establish a loan production office on July 1, according to the document.

Summit Bank & Trust is a subsidiary of Dubuque, IA-based Heartland Financial USA, Inc. (NASDAQ: HTLF), a $5.9 billion financial services company.

The company has five offices in Colorado, according to the company’s website. Summit Bank & Trust officials could not be immediately reached for comment.

In other banking news, First Bank & Trust Company, headquartered in Cozad, Neb., has also received regulatory approval to build a loan production office in Longmont, according to the Division of Banking.

Tom Beckett, northern Colorado market manager of the bank, said the loan production office will open in Longmont probably within the next year. The bank is doing business in Colorado as Mountain View Bank.

“By then, we should have an adequate asset level, somewhere between $5 million and $10 million start a loan production office or even a branch,” Beckett said.

First Bank has five branch offices in Nebraska and one in Colorado Springs.

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