New bank will soon get charter |

New bank will soon get charter

Aspen Times Staff Report

Community Banks, Aspen will become an independently chartered bank this fall, less than a year after it opened in December 1998.

Founded on the promise of returning banking to its roots as a neighborhood institution, the bank will soon be able to establish a board of directors with local decision-making powers.

To facilitate the charter process, Community Banks, Aspen will acquire an available charter – one presently held by an affiliate bank in Del Norte – in October. When procured, the bank, located on North Mill Street, will change its name from “Community Banks, Aspen” to “Community Bank.”

The charter also allows Community Banks, Aspen to open branches.

“We plan to have operations throughout the Roaring Fork

Valley in order to better serve the needs of valley residents,” said Howie Mallory, Community Banks, Aspen president.

“We are providing an alternative to the hassles of corporate banking. Our customers’ needs are handled personally by local people.”

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