Colorado has dozens of locally owned banks that serve the entire state. It also houses hundreds of regional and national bank branches, including many of the largest banks in the United States.
So, if you’re looking for a new bank in Colorado, you’ve got a lot of options.
Of course, any Colorado bank will not sufficient. We’ve made this task much easier by evaluating the state’s top banks and narrowing down our list to the very best. You can’t go wrong with any of the institutions in this lineup.
Here are The Best Banks in Colorado:
These are the top FDIC-insured consumer and small-business financial institutions in Colorado. Many are headquartered in Colorado, and all have physical locations in the state.
Overall winner: The United States Bank
- Minneapolis, Minnesota is the company’s headquarters.
- Colorado has over 90 branches.
- Areas Statewide service is provided.
Yes, our choice for the best bank in Colorado is not located in the state. But it could very well be. With a few exceptions, U.S. Bank has the most branch and ATM locations in the state.
Even more important in a large state like Colorado is the breadth of coverage. While the majority of U.S. Bank branches are concentrated in Denver and the surrounding Front Range region, where the majority of Coloradans live, the bank also has numerous outposts in less densely populated mountain areas and the agricultural Western Slope region centered on Grand Junction.
U.S. Bank is unrivaled in terms of products and services. The following are major selling points:
First Citizens Bank is the best bank in Denver.
- Raleigh, North Carolina is the company’s headquarters.
- Colorado has six areas with branches. Greater Denver is served.
First Citizens Bank is not based in Colorado, and its presence in the state is minimal. However, it has a strong presence in Denver and its surrounding suburbs. And it combines a diverse product and service offering (including extensive wealth management services) with a reputation for exceptional customer service, earning it a spot on our list of the best banks in California.
When all of this is considered, First Citizens is our choice for the best bank in Denver.
Denver First Citizens locations include:
- The city of Denver itself (Cherry Creek neighborhood)
- Center for Technology in Denver (Greenwood Village)
- Boulder (Zenith Meridian Drive)
- Westminster (120th Avenue) (28th Street & Arapahoe)
Bank of Colorado is the best bank in Colorado Springs.
- Headquarters are located in Fort Collins, Colorado.
- Colorado has more than 50 branches. Statewide service is provided.
Colorado Bank lives up to its name. It has the best geographical coverage of any Colorado bank, and despite being headquartered in Fort Collins, it appears to have a soft spot in its heart for the Colorado Springs community and the tens of thousands of U.S. service members who live there.
Bank of Colorado branches and ATMs can be found in downtown Colorado Springs (N Tejon Street), UC Health Memorial Hospital, Children’s Hospital Colorado, near the Colorado Springs Airport and Peterson Space Force Base (E Edison Avenue), and near the United States Air Force Academy (Interquest Parkway).
Bank of Colorado, like First Citizens, provides a full range of deposit and lending services, including checking, savings, money markets, CDs, credit cards, real estate loans (including construction loans), auto loans, and more. This makes it very appealing to the many out-of-state transplants who move to Colorado Springs — often for military service — and require comprehensive in-state banking to feel at home.
FirstBank is the best bank in the Front Range.
- Lakewood, Colorado is the company’s headquarters.
- Colorado has 87 branches. Areas served to include the Front Range and northern mountain communities.
In the densely populated Front Range region, FirstBank (often stylized as 1stBank) has a dense network of branches and ATMs. From Denver to Boulder to Greeley to Fort Collins, a FirstBank branch is never more than a few miles away. If you’re one of the many Front Rangers who enjoy getting away to the mountains whenever possible, FirstBank has excellent coverage in high country towns like Aspen, Vail, Steamboat Springs, and Avon.
Aside from its extensive coverage, FirstBank distinguishes itself with high yields on savings products, particularly CDs. It also serves real estate investors by providing a variety of less common real estate loans as well as hands-on service for 1031 exchanges, which can significantly reduce or eliminate capital gains taxes on non-owner-occupied properties.
High Country Bank is the best local bank.
- Headquarters are located in Salida, Colorado.
- Colorado has 5 branches. Salida, Canon City, Buena Vista, and Longmont are among the towns served.
High Country Bank is the smallest Colorado bank on this list, but it has an impressive product and service lineup.
High Country Bank’s personal banking division provides a variety of free or low-cost checking and savings accounts, taxable and IRA CDs, credit cards, and real estate loans, including vacant land loans, which are popular in rural Colorado. Commercial checking and savings accounts, commercial equipment loans, commercial real estate loans, and general commercial lines of credit are all available through its business banking division.
What truly distinguishes High Country is its involvement in the communities it serves. Most banks make charitable contributions; High Country actively involves each branch in local organizations that make a difference and encourages employees to volunteer.
Bottom line: Doing business with High Country Bank is a pleasure.
Alpine Bank is the best small-business bank.
- Glenwood Springs, Colorado is the company’s headquarters.
- Colorado has 39 branch locations. Statewide service is provided.
Alpine Bank is yet another rural-focused Colorado bank that is deeply involved in the communities it serves and understands the needs of its customers (land loans are also a hot ticket here).
Alpine Bank has more locations than High Country Bank, spanning the Rocky Mountains and Western Slope. It is also more geared toward small-business clients, with an active business lending department that can accommodate:
- General small-business loans with flexible repayment terms — for working capital, equipment, facility upgrades, inventory, vehicle fleets, and industry-specific requirements (such as medical equipment)
- SBA financing
- Commercial real estate loans (purchase, refinance, or construction)
- Up to $50,000 in business credit lines
- Employee card controls and business credit cards with flexible rewards
So, if you own a business in Colorado or are considering expanding into the state, make Alpine Bank your first port of call.
Technology’s Best: The Chase Bank
- Headquarters are in New York, New York.
- Colorado has 130 branch locations. Served: Mostly in the Front Range, but also in the northern mountains.
Chase Bank isn’t based in Colorado or even close to it, but it does have more than 100 branches throughout the state — more than any other bank on this list. It also has the best technological footprint of any bank on this list (of nearly any bank), which means that branches are becoming less and less important for most customers’ everyday banking needs.
It’s possible because of the Chase Mobile app, which allows for super-fast mobile check deposits, person-to-person money transfers (via Zelle), and card management (including instant card locking and unlocking). These capabilities complement financial planning and wellness tools such as:
- Budget Planner is a feature that allows you to track and plan your spending.
- Credit Journey tracks your progress toward better credit and provides advice along the way.
- My Chase Plan is a credit card repayment plan with a fixed monthly fee rather than interest.
If you bank with Chase, will you ever need to visit a bank branch? Never, ever say never. However, you will not be required to visit every week.
Frequently Asked Questions (FAQs)
If you still have questions about the Colorado banking industry, we have (some) answers.
According to our count of the number of banks in each U.S. state, Colorado has 66 FDIC-insured banks.
This is about average for a state the size of Colorado.
Colorado used to have a much higher number of banks.
Colorado’s banking industry, like that of other states, has seen a lot of consolidation since the 1980s, particularly in states with long-standing agricultural and extractive industries.
The majority of Colorado banks are headquartered in the Front Range region, which is centered in Denver. Several community banks, however, remain anchored in smaller towns throughout the Eastern Plains, Central Mountains, and Western Slope regions.
Unfortunately, there is no perfect answer to this question. Savings rates fluctuate, and while some Colorado banks appear to have higher yields on savings and CDs than others, the precise order changes frequently.
Look for online banks that serve customers in Colorado, whether or not they are headquartered here, for consistently high yields on your savings. They tend to pay higher interest rates on savings accounts because they have lower overhead costs than traditional brick-and-mortar banks.
Once again, there is no clear winner. And, once again, our possibly unsatisfying response will be: Look online. All else being equal, direct mortgage lenders with no physical branch offices typically have the best mortgage rates.
There are, however, exceptions to this rule. Many traditional banks (including community banks) provide significant rate and closing cost discounts to customers who already have a relationship with them. As the relationship progresses, the benefits become more generous. If you have $500,000 in your account, your bank can do a lot more for you than if you only have $500.
Similarly, national mortgage lenders with branch offices can compete with online lenders. Another question is whether they can outbid Colorado banks on relationship offers.
The vast majority of the banks on this list provide at least one free checking account. If that fails, they make it simple to avoid checking fees by maintaining a minimum balance or making direct deposits at the end of each statement cycle.
As a result, the answer to this question is “none, because so many pass the free checking test.”