Banking & Finance  February 15, 2023

Battle for deposits heats up as bankers face fin-tech competition, rate bumps

Participants in BizWest’s Banking CEO Roundtable held Tuesday at the Broomfield offices at Plante Moran were Gerry Agnes, Elevations Credit Union; Chris Chippindale, Ent Credit Union; John Creighton, president & CEO, High Plains Bank; Bob Gaddis, BOK Financial; Narciso Garibay, High Plains Bank; Eric Kittelberger, Flatirons Bank; Chad Mitchell, FirstBank; Susan Moratelli, MidFirst Bank; Bonifacio Sandoval, and Adams Bank & Trust; Aaron Spear, Bank of Colorado (sponsor). Sponsors were represented by Berg Hill’s Ashley Cawthorn; Plante Moran’s Jim Cowgill and Sean Nohavec; and Bank of Colorado’s Aaron Spear. Lucas High/BizWest
By

BROOMFIELD — With interest rates and non-traditional competitors on the rise, bankers in the Boulder Valley and Northern Colorado must get creative to maintain the deposit balances they’ve grown accustomed to in recent years.

“The fin-techs are eroding the power” of banks to offer better rates and more convenience to customers, so institutions must lean more on customers service, creativity and relationship management, High Plains Bank CEO John Creighton said during BizWest’s Banking CEO Roundtable held Tuesday at the Broomfield offices at Plante Moran.

Due in large part to increased competition, “you’ve got to be profitable on each deal, and it’s becoming…

Related Posts

A Maryland native, Lucas has worked at news agencies from Wyoming to South Carolina before putting roots down in Colorado.
Categories: Today's News Banking & Finance Broomfield Aaron Spear Adams Bank & Trust Bank of Colorado Bob Gaddis BOK Financial Bonifacio Sandoval CEO Roundtable Chad Mitchell Chris Chippindale Elevations Credit Union Ent Credit Union Eric Kittelberger FirstBank Flatirons Bank Gerry Agnes High Plains Bank John Creighton MidFirst Bank Narciso Garibay Plante Moran Susan Moratelli
Sign up for BizWest Daily Alerts
Closing in 8 seconds...