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Bank battle: Bankers keep market share, each other in sights

With 38 banks clawing for market share, banking competition in El Paso County is fierce, and bankers do whatever it takes to gain an edge. They steal competition. They restructure rates. They renovate branches, renew relationships and in some cases resist change to gain a reputation of consistency. And though their battle plans differ, their… Continue Reading Bank battle: Bankers keep market share, each other in sights

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Colorado joins multi-state lawsuit against S&P

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Colorado has joined the federal government and other states in suing Standard and Poor’s in connection to the ratings that the agency issued on structured financial securities, including residential mortgage-backed securities that were issued from 2004 to 2007. The lawsuit is part of a joint federal-state effort to hold those responsible for their part in… Continue Reading Colorado joins multi-state lawsuit against S&P

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ANB renovating its Circle Banking Center

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ANB renovating its Circle Banking Center

ANB Bank is renovating its Circle Banking Center as part of several remodeling projects across the state. The bank is remodeling six branches in Colorado and Wyoming and  expanding into a new Front Range community, Castle Rock. ANB described the $2 million project at its Circle Banking Center as extensive. The branch is at the… Continue Reading ANB renovating its Circle Banking Center

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National spotlight: Pikes Peak National Bank recognized for work with local small businesses

Robin Roberts took a seat under some bright lights and the video cameras started rolling. Roberts, the president of Pikes Peak National Bank, talked about the thing she loves most: community banks’ relationship with small businesses. Community banks are small businesses themselves, she said, so they know the challenges and the needs that come with… Continue Reading National spotlight: Pikes Peak National Bank recognized for work with local small businesses

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Law enforcement agencies from Denver to Colorado Springs are on the look out for the so-called “Clearninghouse bandit” — the person they believe has robbed 13 banks, including one in Colorado Springs. Local police, along with the FBI Rocky Mountain Safe Streets Task Force, are investigating 13 bank robberies — nine in Denver, three in… Continue Reading Police say robber hit 13 banks along Front Range since August

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Central Bank earns top status with SBA

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When the numbers rolled in for 2012 about Small Business Administration-backed loans in El Paso County, no one at Central Bank & Trust was surprised that their bank ranked in the top echelon. The bank approved $11.3 million in SBA 7a loans — the most in dollar amount for the county in fiscal year 2012.… Continue Reading Central Bank earns top status with SBA

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Small businesses should get to know their banker

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The last thing anyone in the Small Business Development Center’s business planning class expected was relationship advice. The participants had spent 13 weeks and 39 hours developing business plans, working the numbers, developing spreadsheets and practicing their 30-second “commercial,” also known as the business pitch. They, the 13 business hopefuls in the class, are sure… Continue Reading Small businesses should get to know their banker

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It has been a good year for Colorado credit unions. Billed as the alternative to traditional banks, credit unions gained 40,000 members across the state in 2012 and grabbed 26.6 percent of the market. One national survey released this week says credit unions are riding a wave of customer satisfaction and reached record-high membership in… Continue Reading Credit unions still riding wave of big-bank backlash

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Buy business equipment now for tax write-offs

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With all the “Bah, humbug” talk of the so-called fiscal cliff and worry over whether tax increases will be coming in 2013, some small-business owners may have forgotten about a tax deduction provision that could help with this year’s tax bill. Known as Section 179 Deduction in the tax code, it’s not sexy and has… Continue Reading Buy business equipment now for tax write-offs

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Advice: Provide disclosure when raising capital

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Many small-business owners with great ideas, products, or services form a business entity (such as a corporation or limited liability company) and begin operations, but do not have enough capital to fully develop, market, or expand their business. With banks and other financial institutions being subject to heightened scrutiny and increasing government regulation and oversight,… Continue Reading Advice: Provide disclosure when raising capital

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