Denver-based Guaranty Bancorp, owner of Guaranty Bank and Trust Co., wants to clarify one thing: It has nothing to do with Guaranty Financial Group Inc., a failing bank based in Austin, Texas, that is making headlines.
“We have zero relationship with these guys,” said Paul Taylor, chief financial and operating officer at the Denver bank.
Reports about troubles at Guaranty Financial, a $14 billion institution, have triggered a flood of calls from worried customers, Taylor said.
Guaranty Bancorp, by contrast, raised $59.1 million in capital Aug. 11, leaving it far above levels considered “well-capitalized,” Taylor said.
Fort Collins-based Centennial Bank Holdings acquired Guaranty Corp. in 2004 and eventually assumed its name, which was better known in metro Denver.
There are 21 U.S. banks that use the Guaranty name, including eight with variations of Guaranty Bank and Trust, according to a search on the Federal Deposit Insurance Corp. institution directory. Of course, having a one-of-a-kind name for a bank is no “guarantee” of success. Just ask Wachovia. Aldo Svaldi, The Denver Post
