It is said that all politics are local and, to some
extent, the same holds true for the economy.
The Colorado market is by no means booming
but, compared to the rest of the country, we
have much for which to be grateful. Colorado
did not experience the kind of appreciation
or growth that was seen in much of the U.S.
over the past few years. Ironically, this is now
a strength in that we are not impacted as
much by the current market correction. We
were fairly flat before, and that was relatively
weak compared to the rest of the nation.
Our economy is still flat but relatively strong
in comparison to economic conditions
elsewhere.
That being said, the national economy does
have a material impact on Colorado. This
market, however, tends to play toward our
strengths. We are rigorous in our underwriting
and conservative in our approach to risk. Over
the past several years we were able to grow
despite these perceived obstacles due to the
strength of our relationships and service. In
today’s environment, our careful approach
is viewed as a clear positive in the market
and positions our Colorado banks to take
advantage of the unique opportunities that
develop.