History of Colorado Mountain Bank
Colorado Mountain Bank opened its doors as Custer County Bank on January 2, 1979 in Westcliffe, Colorado with $500,000 in capital. Westcliffe and Silver Cliff had been without a bank for 45 years. The closing of local mines, lack of railroad and the depression forced Westcliffe State Bank to close in 1937. Bob Senderhauf, the only original Director still on the Board, owned a propane business and a motel in the days before the bank was opened. Cashing checks and making deposits was difficult without a local bank. Many times, he would have to drive to a bank in a surrounding town just to make a deposit. Also, the banks in the surrounding areas were not very interested in loaning money to this small mountain community.
Bill Bowlds, former Bank President in 1979, stated “one reason that Custer County Bank was started was to bring stability to the community.” “The bank was the single most stabilizing force of the economy of this county”, said Bob Senderhauf. One of the early Board Members was Chet Haga. He had been a major proponent of opening a bank in the mountain community and sold the property to the bank where it stands today. Bob Parker, who owned Trails End Ranch at the time and Parker Drilling of Tulsa, put up the original funds to start the bank.
In 1982 Custer Bancorp was formed as the parent company for the bank. On November 12, 1990, Craig Walker purchased the majority of stock in Custer Bancorp. On December 1, 1992 Custer County Bank purchased a branch of Green Mountain Bank that was located in the City of Fountain, Colorado. The purchase of this branch prompted the search for a name that would allow for future expansion outside of Custer County. By 1995, the search ended with the name changing to Colorado Mountain Bank.
Colorado Mountain Bank is reflecting on the past but focusing on the future
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Colorado Mountain Bank will provide superior earnings and represent an increasing value in ownership to our shareholders:
By practicing integrity in all that we do;
By employing sound banking practices, emphasizing safety and soundness;
By being an employer of choice;
By providing excellent customer service and serving as the primary financial resource for our customers;
By making a positive impact on the communities that we serve.
“That’s My Bank!”
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