Application submitted to sell assets of Greeley-based Cache Bank & Trust

GREELEY — The Colorado State Banking Board on Thursday will review an application to sell the assets of Greeley-based Cache Bank & Trust.

Cache Bank’s chief executive and president Byron W. Bateman declined to comment when reached by phone Wednesday.

Dunham Trust Co. in Reno, Nev., is representing the potential buyer at the meeting set for 10 a.m. in Denver, according to the banking board’s agenda. Calls to Dunham Trust on Wednesday were not returned.

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Cache Bank & Trust, established in 1996, has approximately 620 shareholders according to Federal Deposit Insurance Corp. records. The bank has brick and mortar facilities in Greeley, Fort Collins and Denver.

As of March, the bank had total assets of $145.6 million, deposits of $131 million and liabilities of $131.3 million, according to the FDIC. The bank’s tier-1 leverage ratio was 9.02 percent. The ratio is a key metric in determining the health of a bank. The ratio is calculated by dividing a bank’s core capital by its total assets. Bank regulators consider a ratio of 4 percent or higher adequate.