Finally, more good news than bad for banks
Six banks that are either based or at least do business in Northern Colorado have announced that they’re opening new branches within the last six months, and it has been well over a year since the last time a Northern Colorado bank was closed by regulators.
Warren Federal Credit Union is also expanding its presence in Colorado, opening its first full branch in Fort Collins next month.
That makes seven new branch openings associated with Northern Colorado in less than a year, and zero bank failures so far in 2012.
That’s your cue for a cheer, folks.
Last year, just two new branches were opened, and two banks were declared insolvent by the Division of Banking and purchased by other institutions in July 2011.
Even the bad news this year hasn’t been as bad as it was.
Until recently, Capital West National Bank was under a consent order with regulators, but as I wrote in my last banking column, new leadership and tighter lending rules led to conditions that released
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Sometimes, though, banks choose to make shifts of their own volition.
Take, for example, Wyoming-based Capital West