130 banks currently operate in the state of Colorado. These are banks that are also insured by the federal deposit insurance corporation. Of the banks operating within the state, 74 are also headquartered in the state. Therefore, these 74 banks can be considered Colorado-based banks though they might operate nationally or internationally. Banks operating within the state had in total $81 billion of assets, $72 billion of deposits and $46 billion of loans outstanding as of this writing. Banks in Colorado state currently employ a total of 9,993 people within the state. This amounts to 0.2% of the overall population of the state. In addition, residential mortgages made up 19% of the assets managed by banks operating within the state.

Density of Banks in Colorado

There are a total of 1,402 bank branches located within the state of Colorado. This works out to a ratio of approximately 2.4 branches per 10,000 people in Colorado.  If we take the data on the banks in Colorado and compare it with the banks operating in other states, we find that on this metric, banks in Colorado rank 32nd out of the 52 states and territories. This is ranked in order of most to least branches per capita.  Taking a different approach, let’s look at the physical density of branches within this state. When the total square mileage of a state is factored in, banks in Colorado had on average 1.4 branches per 100 square miles. Therefore, Colorado ranks 41st out of 52 states and territories in terms of the most branches per square mile.

Performance of Banks in Colorado

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  • Net Interest Margin – banks in the state of Colorado are on average above the average bank’s net interest margin in the United States. This is for FDIC-insured banks only. Overall, the net interest margin for banks in Colorado is ranked 35th out of the 52 states and main territories in the United States.
  • Return on Assets – banks in the state of Colorado are on average lower the average bank’s Return on Assets in the United States. Overall, the Return on Assets for banks in Colorado is ranked 33rd out of the 52 states and main territories in the United States.
  • Return on Equity – banks in this state on average have a higher return on equity than the national average. Overall, the Return on Equity for banks in Colorado is ranked 15th out of the 52 states and main territories in the country.
  • Loan to Deposit – Banks in this state are on average below the national average when it comes to loan to deposit. Loan to deposit ratio is a good way to assess the liquidity of a bank. Lower is better as it means that a bank is funding more of its lending activities with its deposit base. Banks in Colorado are ranked 34th out of the 52 states and main territories in the country when it comes to loan to deposits.
  • Nonperforming Assets – this metric gives us an idea of the quality of a bank’s assets and their performance. Banks in this state are on average better than the national average when it comes to nonperforming assets. We’re specifically looking at the level of nonperformance among the asset base. A higher figure indicates lower quality. Overall, banks in Colorado are ranked 5th out of the 52 states and main territories in the country when it comes to the percentage of their assets that are nonperforming.

5 Largest Banks in Colorado

deposit-market-share-of-banks-in-Colorado

As of this writing Wells Fargo Bank is the largest bank operating in Colorado and this is based on its share of deposits within the state. Wells Fargo Bank currently has a 21% share of the deposits within the state. Below is summary information on the top 5 largest banks in Colorado.

Wells Fargo Bank

Wells Fargo Bank currently has the largest share of deposits within the state and has $40.9 billion of deposits. In addition to this the bank also has 135 offices within the state, which represents 3% of its total domestic offices.

Main Office Address: 101 N. Phillips Ave. Sioux Falls, SD 57104

Website: www.wellsfargo.com

U.S. Bank 

U.S. Bank  currently has the second largest share of deposits within the state and has $24.2 billion of deposits. The bank also has 110 offices within the state, which represents 5% of its total domestic offices.

Main Office Address: 425 Walnut St. Cincinnati, OH 45202

Website: www.usbank.com

JPMorgan Chase Bank

JPMorgan Chase Bank currently has the third largest share of deposits within the state and has $23.9 billion of deposits. The bank also has 118 offices within the state, which represents 2% of its total domestic offices.

Main Office Address: 1111 Polaris Pkwy. Columbus, OH 43240

Website: www.jpmorganchase.com

Firstbank

Firstbank currently has the fourth largest share of deposits within the state and has $22.9 billion of deposits. Further, the bank also has 91 offices within the state, which represents 83% of its total domestic offices.

Main Office Address: 10403 W. Colfax Ave. Lakewood, CO 80215

Website: https://www.efirstbank.com/

Bank of The West

Bank of The West currently has the fifth largest share of deposits within the state and has $6.3 billion of deposits. In addition, the bank also has 71 offices within the state, which represents 13% of its total domestic offices.

Main Office Address: 180 Montgomery St. San Francisco, CA 94104

Website: www.bankofthewest.com