Bank of America plans new Greeley branches

GREELEY — Bank of America NA (NYSE: BAC) could soon break into a new Northern Colorado market as the Charlotte, North Carolina-based banking giant has submitted plans to build at least two new Greeley branches.

Those plans call for new branches at the Greeley Mall and at the NorthGate Village shopping center.

Bank of America is the nation’s second-largest bank in terms of assets and deposits as of March 31, 2020. Deposits totaled $1.58 trillion, compared with $1.84 trillion for JPMorgan Chase & Co. Assets totaled $2.6 trillion for Bank of America, compared with $3.14 trillion for JPMorgan Chase.

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The bank operates 25 Colorado banking centers, including in Boulder.

Last month, BizWest reported Bank of America’s plans to open new branches in Broomfield, Fort Collins, Greeley, Lafayette, Longmont over the next couple of years. At that time, a bank official said Greeley was a target for future expansion but didn’t specify where new branches would be located. 

It’s unclear when the planned Greeley branch could be built or opened. City planning documents, which are scant on details, show the projects are in the design stages but a company representative did not provide additional information prior to publication Wednesday.

Bank of America has not submitted any applications this year to establish a new branch in Greeley, according to an Office of the Comptroller of the Currency database. Such an application would have to be approved prior to a branch opening. 

The Greeley Mall branch is planned for the corner of 23rd Avenue and 30th Street. Plans call for a one-story, 4,240-square-foot building with a drive-through ATM.

“The facility will provide a secure vestibule for 24-hour access to walk-up ATMs and an interior fit out for traditional 9 a.m. to 5 p.m. banking services. This includes waiting areas, banking offices, a teller line, and supporting staff and mechanical areas,” according to planning documents.  

The NorthGate Village location at 7004 10th St. has nearly identical plans but calls for a 3,850-square-foot building. 

A third development at 1114 and 1130 8th Ave. could also eventually house a bank, planning documents show. Plans submitted by Greeley-based developer Richmark Cos. call for the redevelopment of an existing Firestone Auto Repair and the creation of four new office or retail spaces, one of which could be a bank. A Richmark representative told BizWest that the economic downturn has put an end to previous conversations with a potential bank tenant. 

© 2020 BizWest Media LLC

Correction: A previous version of this story incorrectly listed an existing Bank of America branch in Fort Collins. That branch is still in planning stages.