Not many bank executives can say they’re razing a structure and building a bank from the ground up. But Lonnie Parsons, regional president of ANB Bank, will raze two buildings and build two new banks in about 16 months, making it one of 10 companies to keep an eye on this year.
This year, the bank celebrates 50 years of operation in Colorado Springs. ANB has 38 banking centers throughout Kansas, Wyoming and Colorado, with six centers in the Colorado Springs market.
Last year in the Pikes Peak region, ANB originated $80 million in loan activity and has grown deposits by $83 million in the past 18 months.
“I look at my bank as being in a real good spot,” Parsons said. The bank holds $2 billion in deposits, and “we’re able to hire specialists. I think we have a couple of advantages.
“From a bankers’ perspective, I couldn’t ask for a better environment — with the owner telling me to run it like I own it,” he said.
“It’s no idle decision to move out of this building. We’ve been here a long time, and we rent this space,” he said, referring to ANB’s main branch downtown, on Cascade Avenue. Parking is an issue, and he’s been looking downtown since the middle of last year for a different location.
Parsons’ searches paid off. ANB broke ground last month on a three-story, $6 million banking center, with second- and third-story balconies, on the southwest corner of Cascade Avenue and Cimarron Street.
“That’s a big investment for one bank — no matter who you are,” Parsons said.
Construction is scheduled for completion by September. ANB hired local firms: N P Daley Architects, Rockwell Consulting, an engineering firm, and Bryan Construction Inc.
Up next, the bank will raze the old Denny’s at Academy Boulevard and Flintridge Drive and build a bank.
“We’re in the design phase now and hope to have [the construction] done by next year at this time,” Parsons said.
Of the six branches in Colorado Springs, the bank already owned four buildings. After construction is completed, the bank will own all six locations. In addition, ANB recently renovated the bank at Circle Drive and Uintah Street for $2.8 million, and the branch on Garden of the Gods Road received a $70,000 interior facelift, he said.
Combined with the $6 million for the new Cascade location, “To me, that’s a pretty strong commitment to the community of Colorado Springs that ANB is here to stay and here to do business,” Parsons said.