Vectra Bank downsizing won’t impact Boulder Valley operations

SALT LAKE CITY — Local bank branches and employees of Zions Bancorporation (Nasdaq: ZION), which operates Vectra Bank Colorado locations in the Boulder Valley, will not be impacted by plans to close branches and lay off staffers.

Vectra’s parent company announced earlier this month it would lay off 500 employees as part of a cost-cutting effort attributed in part to lower net interest margins.

Vectra operates 36 branches in Colorado, including four locations in Boulder, Broomfield and Longmont, which account for $354.13 million in deposits.

Colorado locations in Pueblo and Glenwood Springs will be shuttered, a Vectra spokesman told BizWest.

SALT LAKE CITY — Local bank branches and employees of Zions Bancorporation (Nasdaq: ZION), which operates Vectra Bank Colorado locations in the Boulder Valley, will not be impacted by plans to close branches and lay off staffers.

Vectra’s parent company announced earlier this month it would lay off 500 employees as part of a cost-cutting effort attributed in part to lower net interest margins.

Vectra operates 36 branches in Colorado, including four locations in Boulder, Broomfield and Longmont, which account for $354.13 million in deposits.

Colorado locations in Pueblo and Glenwood Springs will be shuttered, a Vectra spokesman told BizWest.