ANB Bank sprucing up its downtown locations
The roots of ANB Bank in the Grand Valley go back more than 100 years and the organization appears willing to further ensconce itself for many more after a series of remodelings and a land buy to upgrade its facilities.
The bank has committed more than $10 million toward improving two of its Grand Junction branches and its Clifton branch, and also has plans to build a new building at North 12th Street and Patterson Road.
“Two years ago, we embarked on a mission to improve the look of our facilities as a major commitment to the community,” ANB Bank Regional President Vance Wagner said. “We’re a modern organization and wanted a good, modern look, so that’s what we did.”
ANB Bank just finished a multimillion dollar remodel of its downtown branch at 131 N. Sixth St. and is in the process of sprucing up its Clifton branch, 569 32 Road. That project should finish up by November.
Last week, the bank also finalized the purchase of land near the City Market at 12th Street and Patterson owned by Kroger and will move its branch at 2699 Patterson Road across the street. The construction on the new branch should take about a year, according to Wagner, and ANB Bank will then sell its existing building. The branch is among ANB’s busiest in their network, Wagner said.
“We’ve outgrown that space and we want to provide our customers at that branch with a bigger, brighter, larger facility,” he said.
The bank’s history dates to 1889 when it was known as Fruita Building and Loan. After a move to Grand Junction and a few other names, it eventually became Mesa National Bank and was bought by Sturm Financial Group, a holding company, in 1989 and renamed ANB Bank to have broader appeal. There are branches throughout Colorado, Wyoming and Kansas. Today, ANB is one of the largest privately owned banks in the state and has approximately $2.5 billion in assets.
Paul Brown, a board member of Sturm Financial and owner of Monument Oil, said ANB’s investment in the Grand Valley shows that the bank is community-minded and demonstrates how the bank feels about the growth in the area.
“We want to be part of that. The energy sector being what it is, it’s great to see people investing money. We’re certainly doing that,” Brown said. “It’s imperative that we have good, strong community banks.”
Brown noted that local banks are likely more prone to lend money to small businesses in need of start-up cash than the national banks in town.
Grand Junction Economic Partnership Executive Director Kristi Pollard lauded ANB’s investment in the community and its philanthropic efforts in town over the years.
She also noted Wagner’s service on various boards throughout the valley such as the Downtown Development Authority and Business Improvement District, the St. Mary’s Foundation and the Grand Junction Area Chamber of Commerce.
The partnership’s estimated economic impact for ANB’s projects includes 100 direct jobs in support through the life of the projects, $5.4 million in direct labor income and a total economic impact of more than $24 million.
“ANB Bank has been a great partner to this community, not only with time, but with resources,” Pollard said. “Their commitment to Mesa County is profound. They’ve been here through good times and bad times. It really speaks well of their commitment to the community.”
In the downtown ANB branch, the bank was able to bring in Coldwell Banker as a tenant to take over the second floor, which Wagner said will be a great partnership for both the bank and the real estate franchise.
Overall, Wagner said he’s very excited about the economic development of the Grand Valley and believes it’s a big reason the bank decided to invest so heavily in the community.
“Our view of Grand Junction is very bullish,” Wagner said. “We see visionary leadership in a lot of areas in the city and the city itself has a really great vision now.”