Centennial Bank CEO, Jim Basey, Source for Denver Business Journal Article on Bank Consolidation

Colorado community banks could face consolidation

Monica Mendoza Reporter Denver Business Journal

This may be the year of M&A for community banks.

Heaps of government red tape, Baby Boomers ready to ditch loans for retirement, and fierce competition could lead to the rekindling of merger and acquisition activity among community banks.

At least, that is the talk in banking circles.

“What we are seeing is, it isn’t just competition from the big players, even the mid and smaller banks are competing on price,” said Jim Basey, vice chairman and CEO of Centennial Bank, which operates under the Denver-based holding company CIC Bancshares Inc. and is to be acquired by Iowa-based Heartland Financial USA Inc. in a deal pending final approval by the CIC Bancshares board of directors.

The buzz around community banking M&A is the result of a combination of issues, said Larry Martin, chairman of Bank Strategies LLC, which advises banks.

Some are unprepared

Some bankers have not made succession plans and selling is a good option. And some are drowning in the costs of compliance with government regulations, including the rules of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

And now something new weighing on community banks is a looming change in how banks account for loan losses, known as Current Expected Credit Loss (CECL). Bankers say it’s another regulation that will cost them time and money and they say it’s unnecessary. The new rule would go into affect for community banks in 2020.

“Size is becoming more and more critical for small banks,” Basey said about motivation to merge.

“When we started, we were a $20 million bank, and we thought, if we could get to $250 million, we can cover the compliance and oversight costs. Then it was $500 million.

“Now we say, we need to be over $1 billion.”

Now the combined Centennial Bank with Heartland Financial will put the bank at about $1 billion in assets. Under the acquisition agreement – which is expected to be finalized in the spring — Centennial Bank merged with Summit Bank & Trust, which has three locations in Broomfield, Thornton and Erie, and will operate under the Centennial Bank brand.

Timing is critical

The buzz about M&A activity could be about timing, Martin said. Stock analysts are treating mergers and acquisitions favorably, which could encourage more M&A of community banks –independent, locally owned banks with assets ranging from less than $10 million to $10 billion, as defined by the Federal Deposit Insurance Corporation (FDIC.)

“Some banks are just beginning to get to a position where they cleaned up from the last downturn – I know it sounds hard to believe it’s taken this long, but some had big enough problems, where now they are in a position to sell,” Martin said.

The downside, he said, is that mergers and acquisitions would mean fewer choices for consumers. According to the FDIC, consolidation in recent years had its biggest effect on the very smallest banks. The number of institutions with assets less than $100 million declined by 85 percent between 1985 and 2013. Meanwhile, institutions with assets greater than $10 billion have seen their number almost triple, while their total assets have increased more than ten-fold, according to the FDIC.

“Community banks are the banks that deal with small and medium size businesses and are willing to take greater chances and risk in small businesses,” Martin said. “When you have fewer, it has an economic impact on the state going forward.”

View the full article in the Denver Business Journal.

Tagged , , , , ,

5 Tips for Strong Public Speaking

Just read a great piece with some simple tips for effective public speaking. Great advice as you gear up for your marketing & PR activities in the New Year. I’ve highlighted the tips below for a quick read or feel free to view the entire article here.

1. Open with a fact

2. Move

3. More graphics. Less text.

4. Keep it brief & leave time for questions

5. Close with a bang or suggest a call to action


Denver Post Covers CIC Bancshares Merger Plans with Heartland Financial

See the Denver Post article on the CIC Bancshares and Heartland Financial merger announcement.

CIC Bancshares, Inc., parent company of Centennial Bank, headquartered in Denver, Colorado, announced today that it has entered into a definitive merger agreement with Heartland Financial USA, Inc., which is expected to close during the first quarter of 2016. Heartland’s Colorado-based subsidiary, Summit Bank & Trust, will operate under the Centennial Bank name. This acquisition will bring the combined bank to 17 full service banking locations with total assets of over $900 million in Colorado. Kevin Ahern will continue to be the Executive Chairman of the Board of Centennial Bank and Jim Basey will be President and CEO. More info.


Tagged , , , , ,

FOX-31 Covers New Procedure in Colorado to Eliminate Reading Glasses

See the FOX-31 report by Tammy Vigil on the groundbreaking technology aimed at reducing the dependence on reading glasses, a struggle for over 114 million people in the United States.

Eye Center of Northern Colorado is the first practice in Colorado and one of the first in the nation to offer the KAMRA™ corneal inlay procedure.


Tagged , , ,

FOX-31 Everyday Dishes on Parker Garage Delights

Watchthe FOX-31 Everyday segment featuring Parker Garage restaurant with Kathie J, Chris Parente & Joana Canals.



Tagged , , , ,

Rosy Rings Featured in Woman’s Day Magazine October Issue

Rosy Rings was featured in the October issue of Woman’s Day Magazine in the “Cozy Up For Fall” roundup.


Parker Garage + Chef Duy Pham on Food Network

Check out the coverage by the Denver Post and other media outlets on the local buzz. The episode of Carnival Cravings with host, Anthony Anderson, aired August 26.

DuyRibParker Chronicle

Parker Chronicle 2

In Good Taste

Penny Parker On the Town / Blacktie Colorado


Tagged , , , , ,

Parker Garage Launches Ranch-to-Table Restaurant Experience

Parker Garage announces it is launching one of the largest ranch-to-table operations in Colorado today. In a partnership with Lone Star Ranch, located in nearby Elizabeth, CO, Parker Garage is bringing fresh, local ingredients direct from ranch to restaurant with locally renowned Executive Chef Duy Pham residing on the 1,000-acre property to help plant, grow and source ingredients for the restaurant — making Parker Garage one of the largest, true ranch-to-table restaurants on the Front Range.

The Parker Garage menu will reflect local ranch-inspired cuisine, featuring as many fresh, seasonal ingredients as available and incorporating Chef Pham’s 25-year, French-inspired culinary expertise. In addition to free-range cattle and chickens, the team is raising honey bees and sourcing fresh herbs for the kitchen and the bar with plans to build a large greenhouse and add goats, ducks and quail to the ranch.

“Our new ranch-to-table approach will allow us to bring the best, hand-selected, seasonal ingredients to our guests, brilliantly prepared and inspired by Chef Pham’s intention-based menu,” says Brent Walker, Operating Owner of Parker Garage. “The partnership with Lone Star Ranch is a perfect match based on our culinary point of view and desire to bring fresh, authentic food and flavors to the dining experience.”

Parker Garage was recently visited by the Food Network during Parker Days for an episode of Carnival Cravings airing August 26, in which Chef Pham prepared a six-pound tomahawk rib for host Anthony Anderson. For the month of August, Parker Garage will feature a single serving bone-in short rib in celebration of the Food Network episode featuring Chef Pham’s unique twist on the tomahawk rib. Limited quantities of the full six-pound tomahawk rib will be available for special order.


Tagged , , , , , , ,
Page 4 of 18« First...23456...10...Last »