June was a busy month for several banks in the Denver area. Last month two different mergers were officially completed. Aurora-based Citywide Banks merged with Denver-based Centennial Bank and Trust. These institutions are now operating under the Citywide Banks name. For more details about this merger click here. The second merger took place between Kansas-based Sunflower Financial Inc. and Texas-based Strategic Growth Bancorp. The new holding company is called FirstSun Capital Bancorp. For more details regarding this merger click here.
Both of the new organizations are excited about the opportunities these mergers provide to their customers and the community. They’ll be able to expand teams and provide more services like mortgages, personal banking, and small business banking.
With all the mergers happening in the Denver market, what impact has that had on the talent in the area? While some people found new opportunities before the mergers completed, there has not been a significant movement of people leaving their current companies. Most people have the attitude that they’ll wait and see what opportunities the mergers will bring. At Citywide Bank there was a duplication of operation jobs, but front line producers still remain in intact. Change is always going to happen no matter where you sit at the table. For those in the production roles, strength comes from knowing what’s happening in the market and knowing people in the market. Whether working for a bank that’s just been through an acquisition, starting a new job, or staying where you’re at, that’s always going to be a valuable trait for a bank.
If you have more questions about how the recent mergers have impacted the banking industry in Denver, or have general questions about trends in the market, or if you are curious about what opportunities are available and are looking for next career steps, please reach out to Michael Cureton. Michael is an executive banking recruiter with an expertise in placing professionals in the commercial, community, regional, and national banking industries in Colorado.
Michael can be reach by phone (801) 784-2109 or email michaelc@jamisonsearch.com.