Wellington sees double with banking ventures

By JoAn Bjarko
North Forty News

On March 12, Wellington residents will have two First National Banks when one of the town's existing banks changes ownership. The two banks, both on Sixth Street near the interstate, are not related, however.

Vectra Bank of Colorado, a subsidiary of Zions Bankcorporation, sold 11 of its Colorado branch banks this year. First National Bank of Fort Collins acquired the Wellington branch, making it the eighth office for that banking group.

The other First National Bank is owned by a three-state banking group that concentrates on small communities. Its banks are located in Nebraska and Wyoming, in addition to Julesburg, Haxtun and Windsor in Colorado.

Vectra Bank purchased the Wellington branch of Independent Bank in 1999. Independent Bank started business in Wellington in late 1996.

Wellington resident Mary McCaffrey, who has managed the Vectra branch and also worked for Independent Bank, will stay on as manager when the ownership changes to First National. In addition, the bank will be hiring more employees and be open on Saturdays shortly after the official change, according to Fred Jacobs, vice president and director of marketing.

At the end of 2003, First National Bank had $1.18 billion in assets prior to buying the Wellington branch, Jacobs said.

The Julesburg banking group concluded the year with $362.3 million in assets, according to Dalene Frantz, vice president and manager of the Wellington branch.

Frantz said her bank is not planning any changes as a result of the sale of their competitor in Wellington. "We are sticking with the same customer service, which we are known for," she said.

Jacobs said bank customers of the new First National will be able to distinguish all of the offices affiliated with the Fort Collins-based bank by their Circle-1 logo. Any customer of the Wellington branch will now have several choices of offices for ATM machines or other transactions along the northern Front Range. In addition to its banks in Wellington, Fort Collins and Loveland, customers can use affiliated Union Colony and First National Bank of Colorado locations in 10 other Colorado cities, he said.

Jacobs said Wellington residents can also expect the new bank to be actively involved in the community. "We like to sponsor things and give volunteer hours," he said.