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Solera National Bank To Open Full-Service Branch In Boulder, Colorado

Stocks in this article: SLRK

LAKEWOOD, Colo., July 22, 2013 (GLOBE NEWSWIRE) -- Solera National Bank, a wholly-owned subsidiary of Solera National Bancorp, Inc. (OTCQB:SLRK), today announced that it has been approved by the Office of the Comptroller of Currency to expand its franchise and open a full-service branch in Boulder, Colorado at 1881 9 th Street. Solera currently offers residential mortgage lending services at the Boulder location through Residential Mortgage of Colorado, a division of Solera National Bank.

"We are excited about increasing our Colorado presence by expanding into Boulder County. Boulder is a prime market with one of the highest average incomes in the state. It fits perfectly with our strategic direction of becoming one of the premier, independent banks in Colorado," said Doug Crichfield, President and Chief Executive Officer. "We expect to generate solid core deposits in Boulder and focus on developing sound relationships within emerging markets that drive diverse economic growth in Colorado."

According to the 2013 Colorado Economic Outlook published by the University of Colorado's Leeds Business School, "Boulder County has continued to experience steady population growth, above-average growth in employment and income, and below-average unemployment." The article also stated that Boulder has above-average income "…Boulder 2011 median household income, $65,571; Colorado, $56,345; United States, $51,484".

"We look forward to expanding our banking services to these distinct markets, offering a highly-personalized service experience, and the latest technology that will meet the banking needs of even the most sophisticated customer," Crichfield added. This will be Solera National Bank's first branch expansion since the opening of its main office at 319 South Sheridan Boulevard in Lakewood, Colorado in 2007. 

The office will be customized for 24-hour banking access, 7 days per week, and is targeted to open in the 4th quarter of 2013. In addition to the four highly-awarded residential mortgage loan officers currently operating from this location, Solera National Bank will showcase an experienced banking team.

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