What’s brewing in Colorado’s craft beer industry
At CoBiz, we took notice several years ago that craft brewing was a flourishing business in Colorado and we wanted to get involved. Now craft brewing is one of our bank niche specialties.
To get an update on what's going on in the brewing industry, we talked with Greg Atkinson, senior commercial banking manager at Colorado Business Bank and our craft brewing banking expert.
Atkinson: Two major forces that have been in play for a while in the brewery industry both deal with competition. One is…
Prologis, commercial real estate giant with Denver ties, snaps up competitor for $8.4 billion
Prologis, a global industrial real estate firm with offices in Denver, announced this week it has acquired a Denver-based competitor and its entire 71 million square-foot portfolio for $8.4 billion.
The purchase, described in a news release as a “merger agreement,” was announced by Prologis and the now acquired DCT Industrial Trust in a news release Sunday. The deal, which includes Prologis taking on DCT’s debt, was was stock-for-stock transaction.
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Prologis said the buy, which brings in 215 acres of land under contract or option to be developed, strengthens its footprint in high-growth markets like Southern California, the San Francisco Bay Area, South Florida, Seattle an..
Wait. What? A Loveland developer built a prairie dog town within a new lakeside neighborhood
Ken Mitchell, Special to the Reporter-HeraldPam Wanek, a consultant to the Prairie Dog Coalition, was among those who worked at the prairie dog release and reintroduction in Loveland.Residential developers Ken Mitchell and Tony Vienna and a team of volunteers built a small neighborhood within their west Loveland community: a network of burrows for prairie dogs.
Working with the Prairie Dog Coalition and Colorado Parks and Wildlife, the team moved 120 prairie dogs from their burrows on the south side of West First Street, across from Mariana Butte golf course, to make way for 76 single-family homes.
But instead of simply taking the land away from the animals, the developers created new habitat for them in a natural area that overlooks Boedecker Lake.
They found a way to maintain a natural balance that they say will benefit the entire ecosystem of people and animals, said Mitchell, with Mosaic Land Development Services.
The residents who move into the homes will pay about $2.50 more ..
Allegiance Bancshares to acquire another Houston bank
Houston-based Allegiance Bancshares Inc. (Nasdaq: ABTX) — the holding company of Allegiance Bank, the largest community bank in the Bayou City — will acquire another major local bank.
Allegiance announced April 30 that it will acquire Houston-based Post Oak Bancshares Inc., the holding company of Post Oak Bank NA, in an all-stock transaction. The deal is expected to close during the fourth quarter of 2018, according to the April 30 press release.
Allegiance will issue 0.7017 shares of its…
Where Orlando leads and lags for Hispanic entrepreneurs
Orlando is among the top 25 spots on a list measuring Hispanic entrepreneurship rates.
Half a dozen cities — Tampa, Miami and Fort Lauderdale; Charleston, West Virginia; Burlington, Vermont; and South Burlington, Vermont — have the highest number of Hispanic-owned firms, adjusted for the Hispanic population, according to WalletHub.
Orlando’s entrepreneurship rate is 1.04% percent, WalletHub said.
Hispanic entrepreneurship rates was one of several measures in the survey by WalletHub, an online…
Bank of America CEO talks dangers of technology, importance of branches
Bank of America CEO Brian Moynihan says he is scared that technology might cause people to become less curious, and he thinks there is still a need for brick-and-mortar bank branches.
Former SoFi CEO raises $50 million for his latest fintech venture
Mike Cagney has raised $50 million for his latest fintech venture, Figure, focused on home-equity lending.
The investment round was led by Ribbit Capital and DCM Ventures, Bloomberg News reported Monday, citing people who requested anonymity.
The news service also reported that San Francisco-based Figure already has a workforce of 56 people, including Cynthia Chen, former chief risk officer at San Francisco fintech LendingHome and Sara Priola, former chief legal counsel at PeerStreet.
DCM was…
Why this community bank is looking for growth beyond the East Bay
A growing number of small community banks, especially those with less than $500 million in assets, are deciding that now is the time to join forces with larger rivals.
3 signs your lending relationship may not be working
When it comes to running a company, nothing is more important than its financial health and stability. For businesses looking to grow or expand, having the right financial partner in place is critical, both to smooth a path for growth and help manage the peaks and valleys that often wreak havoc with a business’ bottom line.
The right financial partner should be patient, open-minded and creative. And when they’re not, the lending relationship simply may not be working.
Here are three red flags…
Tax reform leads to record quarter for American Savings Bank
Boosted by the Trump administration's federal tax reform, Honolulu-based American Savings Bank reported first quarter earnings of $18.9 million for the year ending March 31, the highest quarterly net income in the company’s history.
Net income for the bank, a subsidiary of Hawaiian Electric Industries Inc. (NYSE: HE), increased by 19.6 percent for the quarter, compared to last year’s first quarter, which was $15.8 million.
The bank said the lower federal corporate tax rate from the Tax Cuts…