Bank of Colo. boosts market share in Weld

FORT COLLINS – Bank of Colorado’s May purchase of New West Bank gave it a 5 percent boost in market share over last year, according to the latest deposit market share report from the Federal Deposit Insurance Corp.

As of June 30, Bank of Colorado held 15.7 percent of deposits in Weld County, up from 10.3 percent as of mid-2012. The bank maintained its standing as the second-largest bank by deposit share in both years. Only Wells Fargo holds more market share, with 16.3 percent in 2013, but Bank of Colorado’s boost narrowed the gap from previous years.

The two banks are now separated by less than a percentage point, but last year, Wells Fargo held 15.8 percent of the market share, making the gap greater than 5 percent.

Bank of Colorado finalized its acquisition of Eaton-based New West Bank in early May.

First National Bank of Omaha remained the No. 3 bank in Weld County, holding 11 percent of the deposit market share in 2013, up from 10.2 percent in 2012.

First National took the top spot in Larimer County, where the distribution of deposits remained largely unchanged from last year. As of June 30, 2013, First National held 20.7 percent of the market share, compared with 20.2 percent last year.

Wells Fargo stayed in the No. 2 spot in Larimer, with 17.1 percent of the market share, and Home State Bank was third in line, with 10.4 percent of deposits.

Total deposits in both counties combined as of mid-2013 exceeded $8.7 billion, compared with $8.3 billion in 2012, according to the FDIC.

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