Bank of Colorado eyes Arizona for new branch as Adams opens Greeley branch

DENVER — Fort Collins-based Bank of Colorado has been granted approval by the Colorado Division of Banking to open a new branch in Scottsdale, Arizona.

The suburban Phoenix branch at 15900 N. 78th St. was given the nod by state regulators in April, but the branch-establishment process has yet to be completed, according to a monthly banking division activity memo released Tuesday.

Arizona appears to be a target for expansion as Bank of Colorado earlier this year received the blessing of the Colorado Banking Board to open a new loan-production office in Sedona, Arizona.

New loan-production offices are often precursors to the…