The financial health of Colorado banks continued to improve during the second quarter of 2014, although they weren’t doing as well as the national average. At the same time, banks nationally set a seven-year high for the number that were recommended to consumers, figures released Tuesday show.
Credit unions in Colorado continued to outdo banks in the number of institutions recommended and in outpacing national averages compared with the same period last year.
It’s the second straight quarter in which improvements set a seven-year mark, according to bank analyst BauerFinancial.
In all, 75.5 percent of the nation’s banks were graded as recommended, although Colorado saw only 61.9 percent of its institutions given the same grade, the report showed.
Only one bank — Collegiate Peaks Bank in Buena Vista — dropped in its ranking, to four stars from five, since the first quarter of 2014.
Three banks — AMG National Trust, State Bank of Downs and Vectra Bank of Colorado — moved up from four stars to five, the highest ranking, the quarterly report showed.
There are 69 banks in the state with a five-star rating.
Still, Colorado lagged behind the national average of banks that are considered troubled or problematic. Nationally it is 5.6 percent of all banks; in Colorado it is 10.3 percent, down from 11.9 percent the same period last year.
“New Hampshire was the solitary state with 100 percent of its banks on our recommended report last year; it has now been joined by Alaska,” BauerFinancial said.
Credit unions in Colorado showed dramatic improvements, with only 1.1 percent considered troubled and problematic — up from 5.3 percent for the same period last year — while 89 percent received a recommended rating.
One — Columbine Federal Credit Union in Centennial — improved to five stars from four. Three improved to four stars. In all, 52 carried a five-star rating.
Nationally 3.3 percent of all credit unions were deemed problematic or troubled, down slightly from 3.4 percent, while 77.5 percent of all credit unions were deemed recommended.
David Migoya: 303-954-1506, dmigoya@denverpost.com or
