Although her old bank suddenly had a new name, Kathleen Kopp of Greeley felt comfortable keeping her accounts open on Monday.
Shortly after federal regulators seized Windsor-based Signature Bank, the Federal Deposit Insurance Corp. announced Friday that it had signed a purchase agreement with Points West Community Bank of Julesburg. Points West, a longtime family-owned bank with branches in Windsor, Wellington, Julesburg and Haxtun, acquired all of the deposits and most of the assets of Signature Bank.
“As long as it was staying a community bank, which I was glad to see,” Kopp said of keeping her checking and savings accounts at now-Points West. “If it had been taken over by the FDIC and the larger (banks) I wouldn’t have been here. (Points West) is another community bank and it’s another Colorado-owned bank, and for that I’m very happy.”
Kopp represented the typical Signature Bank customer as the changeover went smoothly to Points West, which also has locations in Nebraska and Wyoming. Tom Olson Jr., CEO of Points West, said his team came to Windsor late last week to assume management on Saturday morning. He said on Monday he wasn’t aware of any customers closing their accounts due to the change.
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