BOULDER – Bank of America officially opened its first branch in Boulder on Monday, the third of what the banking giant hopes to be 17 to 20 branches in Colorado as it establishes a consumer banking presence in the state over the next several years.
The new Boulder branch is at 1965 28th St., in front of Hazel’s Beverage World on the site where a former Wendy’s restaurant was demolished. The new building is about 3,000 square feet.
A soft opening was held Friday at the bank, which will offer basic banking services, as well as investment advisors, mortgage loan officers and small business bankers.
Bank of America opened its first Colorado branch in December 2014 in Cherry Creek. That was followed by a branch in Highlands Ranch in November 2015. A branch at Union Station in downtown Denver is coming at the end of this year or early next.
Jodi Rolland, market president for Colorado, said Monday that she couldn’t publicize yet specifically where Bank of America is planning future branches. But in general, the company is focusing initially on the Denver and Boulder areas where the bank has about 250,000 existing clients.
“Our whole goal is to first serve them and then … look to build new clientele,” Rolland said.
Bank of America’s presence in Colorado prior to entering the consumer banking market had included its Merrill Lynch financial advisors, commercial banking, a home loan division and business banking.
In addition to the new consumer branches, Bank of America plans to have at least four times as many automated teller machines as branches. Those ATMs, Rolland said, will serve almost as a fully functioning branch where consumers who have special requests beyond just withdrawing cash or making deposits can push a button and be connected to a teller who can assist with their needs.
“They act a little more like a branch and they’re open a lot longer hours obviously,” Rolland said.