Banking & Finance  January 26, 2024

Bank spins off merchant-, payment-processing startup

LONGMONT – High Plains Bank has established a new affiliate company, Craft Financial Group, which aims to provide a suite of merchant and payment-processing solutions to small businesses.

Chris McVay, former chief development officer and Longmont market president of High Plains Bank, will be CEO of the new company, the Flagler-based bank announced Thursday.

Besides offering services such as setting up businesses to accept and process credit-card payments, Craft Financial Group also will offer specialized solutions such as loan packaging, placement services, profit-improvement strategies, debt restructuring and exit and succession planning.

“I look at every customer relationship as being unique,” McVay said. “The word ‘craft’ was specifically chosen when creating Craft Financial Group as it speaks to our mission, drive and desire to find creative, ‘crafted,’ solutions. I’m energized to lead a team of experts who collectively bring years of serving local business communities.”

That team includes merchant-services director Brian Berry, senior account and customer support specialist Bonnie McKinney, and business development officer Kristine Bell.

The company was officially launched Jan. 1.

After McVay relocated to Florida last June, seeking to expand certain business lines offered by High Plains Bank, the bank’s senior management and ownership decided to spin off its merchant-processing division to Craft Financial, with McVay leading the new company.

John Creighton, High Plains Bank CEO, said he is “excited to be working with Chris and his staff in this new endeavor, which will allow us to extend our reach across even more geographies to help small businesses in unique ways.”

Creighton said “this new affiliate relationship has also increased opportunities for our bank staff, as Chris’ whole team consists of prior bank employees. We are fortunate to have a team of experienced people who are ready to expand High Plains Bank’s impact beyond the bank.”

High Plains Bank, a family and employee-owned community bank that was founded in 1908 in Flagler, has physical branches in Bennett, Flagler, Keenesburg, Longmont and Wiggins, as well as digital banking services through HPBGO.com.

LONGMONT – High Plains Bank has established a new affiliate company, Craft Financial Group, which aims to provide a suite of merchant and payment-processing solutions to small businesses.

Chris McVay, former chief development officer and Longmont market president of High Plains Bank, will be CEO of the new company, the Flagler-based bank announced Thursday.

Besides offering services such as setting up businesses to accept and process credit-card payments, Craft Financial Group also will offer specialized solutions such as loan packaging, placement services, profit-improvement strategies, debt restructuring and exit and succession planning.

“I look at every customer relationship as being unique,” McVay said.…

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