Wells Fargo economists predict healthy economic growth in 2007, and if that weren’t enough good news, they also say U.S. households on average have never been better off in the wealth department. Growth is predicted despite the current economic slowdown, Federal Reserve interest rate increases, home price declines, higher oil prices and the war in Iraq.
Accounting firm Auer, Woodley, Hilderbrand & Sanders was formed earlier this year when Jerry Hilderbrand and Marty Sanders merged their long-standing firms and added a few new partners. On Oct. 1, the firm merged again, this time with EFA Services, a financial management services company, now located at 455 E. Pikes Peak Ave., with Auer, […]
Omaha Financial Holdings Inc. is purchasing Golden-based Peak National Bank. The transaction is expected to be completed within 150 days, subject to closing conditions and necessary approvals. Terms of the agreement were not disclosed. The acquisition is the first for Omaha Financial Holdings, a subsidiary of Mutual of Omaha created/chartered in 2007. No significant changes are anticipated in the management or personnel at Peak National Bank. Peak National Bank opened its first location in Nederland in 1986. It now has locations in Bergen Park/Evergreen, Conifer, Lakewood, Golden, Highlands Ranch and Idaho Springs. Mutual of Omaha had consolidated assets of more than $19 billion in 2006.
Barring unforeseen circumstances, the risk of a double-dip recession is “pretty unlikely,” Keith Hembre, U.S Bank’s chief economist, told the audience at U.S. Bank’s Economic Update and breakfast at the Doubletree Hotel on Tuesday. Across the developed world, interest rates are basically at zero. And governments have used unprecedented policy action, so they aren’t apt […]
Pikes Peak National Bank will operate under the close scrutiny of federal regulators for at least the next three years as it battles a rising tide of delinquent loans. The Colorado Springs-based bank, which has three branches, has been under a consent order issued by the U.S. Office of the Comptroller of the Currency since […]
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Robin Roberts took a seat under some bright lights and the video cameras started rolling. Roberts, the president of Pikes Peak National Bank, talked about the thing she loves most: community banks’ relationship with small businesses. Community banks are small businesses themselves, she said, so they know the challenges and the needs that come with […]
T. Rowe Price opened a second building on its Colorado Springs campus this week — something that company representatives say doubles their capacity for growth here. The 145,000-square-foot, three-story building and parking structure at 2220 Briargate Parkway is expected to accommodate an additional 650 employees.
Colorado Springs native Jason Hann sees potential everywhere he looks — in Colorado Springs, in local businesses, in networking groups. The 35-year-old consultant has started several groups designed to bring people together and create new possibilities. Hann has a degree in business administration from Regis University and will finish his master’s degree in organizational leadership […]
Many people want financial industry reform. And few want to see a return to the unstable, “innovative” (read, downright precarious) collateralized debt obligations and complicated financial structures of the past decade. But more regulation, proposed by the Obama administration, is not the answer, said Mariner Kemper, chairman and CEO of UMB Financial Corp. While Kemper […]
Congress is considering a bill that would help save banks from getting sucker-punched by defaulting commercial real estate loans. The bipartisan bill, known as the Capital Access for Main Street Act, is the brainchild of Colorado U.S. Reps. Ed Perlmutter, (D-7th District), Mike Coffman (R-6th District) and Scott Tipton (R-3rd District). If passed, the bill […]
The stock market always recovers. Since 1926, the stock market, as measured by the Standard & Poor’s 500 index, has had 58 years of positive returns and only 24 years of negative returns. Historical odds are 8-to-1 that the market will be down by 10 percent or more during any single year, and 2-to-1 that […]
Sixteen percent of venture capitalists surveyed nationwide named the Rocky Mountain region as one of the next regions — outside Silicon Valley, New York and New England — poised for growth. That’s not a huge percentage, but it still struck me as significant. So I asked Tom Duening, the El Pomar chair for Business and […]