OVER A CENTURY: BUILDING BETTER BANKS — Helping Coloradans Realize Dreams March/April WOMEN Leading theWay celebrating the women shaping the future of colorado banking
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©2026 The Colorado Bankers Association (CBA) | MBR Connect DBA The newsLINK Group LLC. All rights reserved. Colorado Banker is published six times per year by The newsLINK Group LLC for CBA and is the official publication for this association. The information contained in this publication is intended to provide general information for review, consideration and education. The contents do not constitute legal advice and should not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of CBA, its board of directors or the publisher. Likewise, the appearance of advertisements within this publication does not constitute an endorsement or recommendation of any product or service advertised. Colorado Banker is a collective work, and as such, some articles are submitted by authors who are independent of CBA. While a first-print policy is encouraged, in cases where this is not possible, every effort has been made to comply with any known reprint guidelines or restrictions. Content may not be reproduced or reprinted without prior written permission. For further information, please contact the publisher at (855) 747-4003. Jenifer Waller President & CEO Alison Morgan Director of State Government Relations Brandon Knudtson CFO & Director of Membership Lindsay Muniz Vice President of Education and Communications Megan Carruth Executive Assistant Margie Mellenbruch Bookkeeper* Melanie Layton Lobbyist* Garin Vorthmann Lobbyist* Caroline Woodhouse Lobbyist* Michael McReynolds Lobbyist* *Outsourced 140 E. 19th Ave., Ste. 400 Denver, Colorado 80203 Office: (303) 825-1575 coloradobankers.org colorado-banker.thenewslinkgroup.org BUILDING BETTER BANKS — Helping Coloradans Realize Dreams 6 16 2025-2026 Issue 5 4 A VIEW FROM THE CAPITOL Navigating a Critical Legislative Session for Colorado Banking By Jenifer Waller, President and CEO, CBA 5 2026 Banker Summit May 20-22, 2026 6 The Future of AI in Banking Preparing for CECL Automation By Kate Randazzo, Content Marketing Manager, Abrigo 8 What Colorado’s Banking Community Needs to Know About Financial Abuse By Dr. Christa Kuberry, Director of Partnerships, FinAbility 10 Pennies No Longer in Production Impact Cash Transactions and Sales Taxes By Lance Jacobs, Managing Director, and Natalie Straus, CRCM, Director, Forvis Mazars 12 CBA Centerpoint Going Beyond the Desk to Hear the Stories of Colorado Bankers 14 Fair Lending in 2026 Less Enforcement Doesn’t Mean Less Risk By Robert Brosh, Director of Regulatory Compliance, Ncontracts 16 Women Leading the Way Celebrating the Women Shaping the Future of Colorado Banking 19 Why SBA Lending Holds Steady When the World Does Not By Christopher Myers, CEO, B:Side Capital and B:Side Fund 20 Generic MDR A False Sense of Security By DefenseStorm 22 Flood Insurance Compliance in Colorado’s Mountain and Front Range Corridors By MeKelee LaFoy, CP Insurance Associates 24 Women in Banking Conference Aug. 3-4, 2026 3 Colorado Banker
As we move past the halfway mark of Colorado’s legislative session, the pace under the Gold Dome is beginning to shift. With just seven short weeks remaining, bill introductions have slowed significantly, and attention has turned to committee hearings and floor debates. This is the point in the session where priorities crystallize, some proposals advance, while others rightfully stall or fail as their broader impacts on businesses and Colorado’s economy come into sharper focus. Several issues of importance to Colorado’s banking industry continue to demand close attention. Interchange Legislation Senate Bill 26-134, Concerning Credit Card Swipe Fees, was introduced on March 4 and proposes to prohibit interchange fees on the tax portion of a transaction. The bill received a hearing on March 12 under circumstances that underscore just how dynamic, and at times unpredictable, the legislative process can be. Leading up to the hearing, opponents of the bill had secured sufficient votes to defeat the measure in committee. However, in an unprecedented move on the morning of the hearing, Senate leadership replaced a committee member with one of the bill’s sponsors, allowing the bill to pass out of committee. Since that time, the bill has remained on the Senate floor awaiting debate. Proponents have been unable to secure the votes necessary for passage and continue to circulate amendments in an effort to build support. At the time this article was written, the bill does not have a clear path forward. The Colorado Bankers Association has been actively engaged on this issue. I met directly with representatives from the Governor’s Office to clearly communicate the industry’s position, including the potential to pursue litigation should the bill be signed into law. This is in addition to numerous meetings Alison Morgan, CBA’s director of state government relations, had with the Governor’s team. The stakes are high, and we remain committed to ensuring policymakers fully understand the operational, legal and economic consequences of this proposal. Artificial Intelligence Colorado continues to be at the forefront of artificial intelligence policy. In 2024, the state enacted groundbreaking legislation (HB24-205) aimed at protecting consumers from discriminatory practices in AI systems. At the time of signing, Governor Polis acknowledged structural flaws within the law that would need to be addressed. Efforts to refine the law have so far been unsuccessful in the legislature. The only accomplishment has been to push the implementation date to June 2026. In response, the Governor convened a broad-based AI working group tasked with developing a path forward. While the group included a wide range of stakeholders, representing venture capital, education, healthcare, technology, consumer advocates and business, it notably did not include representation from the banking or financial services sector. A VIEW FROM THE CAPITOL Navigating a CRITICAL LEGISLATIVE SESSION for Colorado Banking By Jenifer Waller, President and CEO, CBA Colorado Banker 4
After months of discussion, the working group advanced a proposed framework. The bill will be subject to the full legislative process, including amendments. Additional legislation is also anticipated that could further restrict the use of AI in Colorado. While there is general agreement on the need to address the issues within the current law, the challenge will be finding a balanced approach that protects consumers without stifling innovation or creating unintended consequences for industries that rely on advanced technologies to serve their customers. State Budget Outlook The broader fiscal environment is also shaping legislative decisions this year. On March 19, the Joint Budget Committee (JBC) received the spring revenue forecast, which reflected a significant downturn. The state is now facing a projected $1.5 billion shortfall for fiscal year 2026-2027. In the current fiscal year, revenues are expected to come in $914 million below the TABOR cap, eliminating the possibility of taxpayer refunds in 2026. Contributing factors include changes in federal tax policy, rising Medicaid costs and increasing concerns about a potential economic slowdown. Colorado’s constitutional requirement to pass a balanced budget means that difficult decisions lie ahead. The JBC is actively working through additional reductions and spending cuts, and these fiscal constraints will inevitably influence policy decisions across the board in the weeks to come. Looking Ahead As we enter the final stretch of the session, engagement remains critical. The legislative process is fluid, and outcomes can shift quickly as we saw with the interchange bill. Ensuring that the voice of Colorado’s banking industry is heard, understood and respected requires constant vigilance and thoughtful advocacy. As members of the Colorado Bankers Association, we are fortunate to have strong, professional advocates representing our industry both at the State Capitol and in Washington, D.C. Our advocacy team works daily to build relationships with policymakers, provide clear and factual information on complex issues, and ensure that the real-world impact of proposed legislation is fully understood. Just as importantly, many of you, our member bankers, play a vital role by engaging directly with elected officials, sharing your expertise, and reinforcing the essential role banks play in supporting communities, businesses, and economic growth across Colorado. That collective voice matters. It is what allows us to navigate challenging proposals, shape meaningful policy outcomes and protect the ability of Colorado’s banks to serve their customers effectively. The final weeks of session will be pivotal. We will continue to monitor developments closely and keep you informed as these issues evolve. 5 Colorado Banker
Preparing for CECL Automation By Kate Randazzo, Content Marketing Manager, Abrigo AI Assistance for the CECL Calculation Is Moving from Theoretical to Practical For community financial institutions, the conversation around the future of AI in banking is no longer theoretical. Leaders are asking practical questions about how AI helps banks operate more efficiently, where it delivers measurable value and how it can be applied while maintaining transparency and trust. Nowhere is transparency more important than in a community financial institution’s CECL calculation. Strengthening CECL Processes With AI Advances in automation and AI are creating new opportunities for teams to strengthen their CECL processes while maintaining the governance the standard requires. Now that the initial CECL implementation period is behind us, banks and credit unions are entering a new phase of figuring out how to manage their calculations most efficiently. The impact of AI on CECL processes will be most visible through enhancements that make complex processes easier to execute, explain and defend. The Evolving Role of AI in Banking and Why It Matters for CECL Across the industry, AI is helping banks reduce manual effort, improve consistency and find insights more efficiently. In areas like CECL, where accuracy, governance and documentation carry significant weight, these benefits are especially meaningful. Most community financial institutions (CFIs) have already made the foundational CECL decisions: • Which methodologies are appropriate for a portfolio • How reasonable and supportable forecasts should be applied • What governance framework supports consistent qualitative adjustments But making those decisions was only the beginning. Many institutions are discovering that CECL’s real challenge lies in execution. Manual workflows, disconnected systems and spreadsheet-driven processes can limit an institution’s ability to fully leverage the insight CECL is meant to provide. As portfolios grow and regulatory expectations mature, execution becomes the primary challenge. This is where many of the advantages of AI in banking begin to take shape, especially when paired with purpose-built CECL solutions. Using Automation and AI to Strengthen CECL Execution One of the most immediate benefits of AI in banking is its ability to reduce friction in operationally intensive processes. When it comes to CECL, automation streamlines data ingestion, accelerates calculations and standardizes workflows across portfolios and reporting periods. These capabilities help support more reliable reporting cycles and enable teams to manage documentation requirements more effectively. For decision-makers, this is where AI begins to deliver a tangible return on investment. Faster close cycles, fewer errors and greater confidence in results all contribute to stronger operational outcomes and better use of expert time. CECL teams no longer need to spend excessive time navigating tools or managing workarounds. Instead, they can focus on understanding results and making informed decisions. Platforms that incorporate AI will evolve from calculation engines into end-to-end systems that support analysis, documentation and review — without sacrificing human control or judgment. Maintaining Oversight and Trust as AI Adoption Grows Any discussion about the future of AI in banking must address governance and control. AI should not select methodologies, The Future of AI in Banking Colorado Banker 6
determine forecasts or apply qualitative adjustments. Those responsibilities must remain firmly within management’s purview. Where AI adds value in CECL is by supporting execution around established management decisions. One of the most resource-intensive parts of the process is documentation. Allowance results must be supported by clear, regulator-ready explanations that answer questions such as: • Why did the allowance change this period? • How were economic conditions incorporated? • Which assumptions had the most impact? AI offers a practical way to improve consistency and ensure compliance when answering these questions. Generative AI can help transform structured CECL data into complete, standardized narratives, making explanations easier to produce, review and maintain across reporting periods. The result is stronger documentation quality with fewer opportunities for omission or unfounded assertions. When used thoughtfully within well-governed systems, AI becomes a natural extension of modern CECL platforms. It reinforces process discipline, supports audit readiness and helps institutions operate more efficiently without compromising transparency or control. This approach reflects the broader future of AI in banking: responsible innovation that strengthens oversight, improves outcomes and builds confidence with regulators and stakeholders. The Broader Impact of AI on CECL and Banking Strategy Looking ahead, the future of AI in banking will be shaped by usability and integration. Institutions that combine CECL expertise with modern automation and applied AI will be better positioned to reduce risk, improve efficiency and communicate results with confidence. For CECL teams, this means seeking solutions that simplify execution, support consistent analysis and help derive greater value from the decisions they have already made. These capabilities reflect a broader shift across banking, where AI is becoming a practical tool for improving efficiency, accuracy and insight across core processes. The future of CECL closely mirrors the future of AI in banking as a whole. Progress will continue to be driven by thoughtful innovation that improves outcomes while maintaining strong governance and professional judgment. Kate Randazzo is a content marketing manager at Abrigo, where she works with industry thought leaders to create digital content that helps financial institutions better serve their customers. Before joining Abrigo, Kate managed social media and produced articles for Campbell University’s quarterly magazine and other university content initiatives. She earned her bachelor’s degree in strategic communication and professional writing from Miami University. 7 Colorado Banker
Financial abuse is not a niche social issue. It is a material banking issue that affects customer safety, employee well-being, institutional trust and long-term community stability. Financial abuse is present in an estimated 99% of domestic violence cases and cuts across income, geography and demographic lines. One in four women and one in seven men experience intimate partner violence in their lifetimes, and Colorado’s rates exceed national averages. For financial institutions, this reality carries a clear implication: Survivors of financial abuse are already among your customers and employees. Yet, outside of elder abuse, most bankers have never been trained to recognize financial abuse or to respond in ways that support safety while maintaining sound banking practices. This gap does not reflect institutional neglect. It reflects the absence of sector-wide awareness and training, and it presents an opportunity for leadership within Colorado’s banking community. How Financial Abuse Appears in Banking Systems Financial abuse involves the use of money, credit or access to financial systems to exert power and control over a partner. In banking environments, it often surfaces through patterns that are operationally familiar: • Identity theft by an intimate partner • Account takeovers and unauthorized digital access • Forced address changes or transaction monitoring • Unusual transfer activity tied to coercion rather than fraud alone These behaviors are typically categorized as fraud, account misuse or high-risk activity. For survivors, however, they represent a sustained pattern of control rather than isolated incidents. When bankers understand what financial abuse looks like, responses shift. Interactions become grounded in discretion, safety and informed support. For many survivors, this recognition marks the first step toward financial stability. Financial Abuse in the Workplace Financial abuse also affects employees. In a financial institution with 200 employees, statistically, around 40 are likely navigating some form of financial abuse. These individuals may be managing custody disputes financed through economic control or coping with housing instability created by financial sabotage. Most employees never disclose what they are experiencing. They continue to perform, lead and serve customers while managing invisible burdens that affect well-being, productivity and retention. At the same time, banks are often places where survivors find stability, benefits and pathways to upward mobility. When institutions foster awareness and support, without requiring disclosure, employees experience belonging rather than stigma. This directly influences engagement, loyalty and organizational resilience. What Colorado’s Banking Community Needs to Know About Financial Abuse By Dr. Christa Kuberry, Director of Partnerships, FinAbility Colorado Banker 8
Why Banks Play a Central Role Financial abuse is uniquely intertwined with banking systems. Survivors cannot rebuild independence or long-term stability without access to financial services. Yet nationally, approximately 75% of survivors report not feeling safe or welcome in traditional banking environments. For Colorado banks, this means survivors are already present within the customer base. From a Community Reinvestment Act (CRA) perspective, activities that strengthen financial stability for underserved populations, such as staff education, survivor-centered financial mentoring and partnerships with community organizations, can qualify as community development services. A Leadership Opportunity for Colorado Banks In Colorado, domestic violence fatalities are rising even as overall homicide rates decline. Financial abuse is a common thread in nearly all of these cases. Colorado banks have the capacity to recognize survivors, support employees and help individuals rebuild financial lives with safety and dignity. In doing so, institutions strengthen CRA performance, enhance ESG outcomes, differentiate competitively and reaffirm a foundational promise of banking: to provide a safe place where people can build secure financial futures. Survivors across Colorado are rebuilding every day. Banks can be part of that story through thoughtful awareness, education and empowerment. Partnership Approaches That Support Survivors and Institutions At FinAbility, we have spent five years building relationships with financial institutions that want to move from awareness to action through a variety of ways: • Staff Education and Awareness: Training for frontline staff, managers and executives focusing on recognizing financial abuse and responding with safety-centered, trauma-informed practices that complement existing compliance frameworks. • Volunteer Mentorship and Engagement: Using bank employees’ financial expertise to support survivors in rebuilding savings, repairing credit and developing financial empowerment through structured mentoring programs. • Survivor-Centered Referral Pathways: Establishing referral networks connecting customers to financial mentoring and community resources while participating in co-designed education initiatives. • Sector Collaboration and Leadership: Engaging in cross-sector dialogue, case studies and shared learning efforts that advance survivor-aware banking practices across the industry. • Systems Change and Certification: Developing certification programs that recognize survivor-safe banking practices and build competitive differentiation for institutions ready to embed trauma-informed practices institutionally. Whether you are beginning to explore survivor-safe practices or ready to lead in your market, FinAbility is here to work with you to design approaches that fit your capacity and values. Dr. Christa Kuberry is director of partnerships at FinAbility, a survivor-led nonprofit dedicated to financial empowerment for survivors of domestic violence. She works with financial institutions nationwide on survivor-aware banking practices, workforce education and community partnerships. Learn more at www.finability.org. Sources Centers for Disease Control and Prevention (CDC), National Intimate Partner and Sexual Violence Survey (NISVS): 2010 Summary Report. https://www. cdc.gov/nisvs National Network to End Domestic Violence (NNEDV), About Financial Abuse (2025). https://nnedv.org/content/about-financial-abuse/ Colorado Department of Public Health and Environment, Intimate Partner Violence Statistics (2024). https://cdphe.colorado.gov/colorado-gun-violenceprevention-resource-bank/injury-and-death-involving-firearms/intimate-partner Colorado Attorney General's Office, Domestic Violence Report 2024. https://coag.gov/app/uploads/2024/10/DomesticViolenceReport2024-FINAL.pdf Colorado Public Radio, "Colorado domestic violence deaths rise even as statewide homicides decline" (October 2025). https://www.cpr.org/2025/10/21/ colorado-domestic-violence-deaths-rise/ Pennsylvania Coalition Against Domestic Violence (PCADV), Financial Abuse Resources (2025). https://www.pcadv.org/financial-abuse/ Peace At Home Family Shelter, Domestic Violence in the Workplace Fact Sheet. https://peaceathomeshelter.org/site/images/user-files/domestic-violence-in-theworkplace-fact-sheet.pdf Northwestern District Attorney's Office, "The Cost of Domestic Violence in the Workplace" Fact Sheet. https://northwesternda.org/DocumentCenter/View/447/ The-Cost-of-Domestic-Violence-in-the-Workplace-Fact-Sheet-PDF Office of the Comptroller of the Currency (OCC), CRA Illustrative List of Qualifying Activities (2020). https://www.occ.gov/topics/consumers-and-communities/cra/ cra-illustrative-list-of-qualifying-activities.pdf Chartered Banker Institute, "Championing the 'S' in 'ESG'" (February 2024). https://www.charteredbanker.com/resource_listing/cpdresources/championingthe-s-in-esg.html ASSETS Pennsylvania, "Building Community Through Banking: Joseph Martinez on Volunteering, Partnership, and Local Impact" (April 2025). https://assetspa.org/building-community-through-banking-joseph-martinez-onvolunteering-partnership-and-local-impact/ Webster Bank & ABA Foundation, "The Power of Collaboration: A Guide to Nonprofit Partnerships" (2025). https://www.websterbank.com/wp-content/ uploads/2025/09/aba-foundation-nonprofit-guide.pdf NNEDV Financial Abuse Fact Sheet (May 2025). http://nnedv.org/wp-content/ uploads/2025/05/Financial%20Abuse%20Fact%20Sheet%20-%20May%20 2025%20EN.pdf 9 Colorado Banker
Pennies No Longer in Production Impact Cash Transactions and Sales Taxes By Lance Jacobs, Managing Director, and Natalie Straus, CRCM, Director, Forvis Mazars On Nov. 12, 2025, the last penny was minted at the U.S. Mint in Philadelphia. The U.S. Secretary of the Treasury exercised authority under 31 United States Code (USC), Sections 5111(a) and 5112 to suspend production. The decision to cease penny production was largely rooted in cost. According to the U.S. Mint, the total production cost of the penny has risen from 1.42 cents to 3.69 cents per penny over the past 10 years. The U.S. Mint predicts the discontinuation of the penny will result in annual savings of $56 million. New pennies will no longer be manufactured, but according to the U.S. Department of the Treasury (Treasury), there are around 114 billion existing pennies in circulation. While the penny remains legal tender and may still be used for transactions, it is anticipated that the stoppage in production will reduce and eventually eliminate pennies in circulation. Federal Considerations The Federal Reserve is responsible for distributing coins to banks and credit unions. The Federal Reserve will still accept deposits of pennies from banks and credit unions; however, it indicates that the coin distribution locations accepting deposits will vary over time. Coin distribution locations will cease fulfilling penny orders when inventory is depleted. This will impact cash transactions, and it will be necessary to “round” such transactions in the absence of penny availability. Currently, there are no federal “rounding” guidelines. On July 23, 2025, the Common Cents Act passed out of the House Committee on Financial Services on a bipartisan basis. The act proposes the following rounding practices for cash transactions only: • If the price ends in $0.01, $0.02, $0.06, or $0.07, round down to the nearest $0.05. • If the price ends in $0.03, $0.04, $0.08, or $0.09, round up to the nearest $0.05. • If the price is exactly $0.01 or $0.02, round up to $0.05. However, further consideration is required before the act can be advanced for floor votes. In the meantime, Treasury recognizes that “states will approach this issue differently based on unique considerations” and indicates “businesses should apply rounding practices in a fair, consistent and transparent manner.” Business Impacts While the penny still remains legal tender, businesses are expected to choose between several options to reflect this change: choosing to round cash transactions to the nearest nickel, requiring exact change (though the ability to do this will be limited as fewer pennies are in circulation) or using credit card or digital transactions. The cessation of penny production and the resulting decrease in the number of pennies in circulation have implications for cash transactions for retailers selling taxable products. Several states have addressed the implications of this for sales and use tax purposes. In addition to the various administrative pronouncements, several states, including Arizona, Florida, Missouri and Nebraska, have pending legislation to address these issues. Colorado Banker 10
| Bank Stock Loans | Loan Participations | ATM/Debit | International Services | | Cash Management | Securities Safekeeping | Merchant Services | 800-873-4722 | NE: 888-467-5544 | www.bbwest.com Where community banks bank Est. 1980 – Over 45 years of service to community banks “As a service provider exclusively focused on community banks, Bankers’ Bank of the West is here to help strengthen our clients and the communities they serve.” Across the western states and Great Plains, we’re the place where community banks bank. That’s because we provide the services, technology, and expertise to help you extend your resources, deliver for your customers, and stand out in your market. 5 reasons to partner with us BBW CEO and Vice Chair – Bill Mitchell 1. You can unlock efficiencies and cost savings. We can provide sophisticated solutions and economies of scale because we’re powered by hundreds of community banks across our region. 5. Our priorities are aligned with yours. 2. You can expand your capabilities. 4. We’ll never compete for your customers. 3. You can count on prompt, reliable service. • Independent loan review • Loan and credit administration consultation • Strategic planning facilitation • Management, staffing, & succession planning • Acquisition & expansion • BSA/AML compliance • Regulatory risk consultation President, Jim Swanson President, Anne Benigsen • Consulting • Phishing Tests • Vulnerability Management • Security Monitoring Cyber/information security, strategic planning, independent loan review, AND MORE. Consulting Services $ 8.45B assets under management $ 1.9B daily transaction value processed/settled Serving more than 60% of community banks across 7 states
CBA Centerpoint Joanna Vosburg SVP, Treasury Management Officer InBank How did you get started in the banking industry? My first job out of college was in corporate treasury for a Fortune 500 company with complex cash management and lending needs. There, I learned corporate finance and worked with dozens of banks, from community banks to large global banks. I loved interacting with our bankers, so after a few years, I decided to make the jump to the banking side. My experience of having been “in the shoes” of our clients has been invaluable. What do you like to do to give back to the community (either personally, as a bank representative or both)? Outside of work, I serve on two nonprofit boards: Uptown Community Health Center, which provides primary care, internal medicine and OB/GYN services to Denver’s most underserved; and Thriving Families, a center that offers support for women and their families during pregnancy and postpartum. I’m proud of the work both organizations have done in our city, and it’s been rewarding (and educational) to be a part of. InBank is very community-focused, so I’ve also had opportunities to give back through the workplace — from volunteering with our numerous nonprofit clients to participating in our Women in Business initiative, where we connect and learn from women business owners across the Denver metro. What are you most proud of in your professional life so far? I’m most proud of the relationships I’ve built. I truly believe I work (and have worked) alongside some of the best bankers, financial professionals and business owners in Denver. Many of these people have become friends. Banking is all about relationships, and I’m so thankful for the network I’ve built and the fun we’ve had along the way. When you were a child, what did you want to be when you grew up? I wanted to be a WNBA player! These days, I fill that void by cheering on the Nuggets and Jayhawks (I’m a KU Alum — rock chalk!), and occasionally taking part in a competitive game of H-O-R-S-E. Alexandra Ridgeway Assistant Vice President, Retail Banking Adams Bank & Trust What makes your bank unique? At Adams Bank & Trust, our family-owned and operated foundation sets us apart. We take pride in reinvesting in the communities we serve and building meaningful, long-term relationships. Our focus is not only on being the bank of choice for our customers but also on creating a supportive and people-centered environment for our employees. That commitment to community, service and trust is at the heart of everything we do. What do you like to do to give back to the community (either personally, as a bank representative or both)? Giving back is something I’m passionate about, both personally and professionally. I have created and led financial literacy training focused on helping individuals and families build practical skills such as budgeting, saving, understanding credit and preparing for unexpected emergencies. My goal is to empower people with knowledge and confidence so they can make informed financial decisions and build more stable futures. What is the most important thing you’ve learned from a career in banking? One of the most important things I’ve learned from a career in banking is the value of being there for people and supporting them through every stage of life. I’ve had the privilege of helping team members grow into new roles and guiding clients through difficult financial moments. Those experiences have shown me that banking is about more than numbers — it’s about trust, relationships and care. This career has truly helped shape me into a more compassionate and understanding person. What do you geek out about? I genuinely enjoy learning and helping others grow. Whether it’s discovering new ideas, developing skills or sharing knowledge, I’m energized by opportunities to inspire progress and continuous improvement. What do you listen to on your morning commute? My music taste is a little all over the place, but lately I’ve been listening to Ella Langley’s “Choosin’ Texas.” It’s a great way to start the day with a positive, upbeat mindset. Colorado Banker 12
GOING BEYOND THE DESK TO HEAR THE STORIES OF COLORADO BANKERS John Pike EVP, Commercial Real Estate & Public Finance Vectra Bank How did you get started in the banking industry? I’ve always known I wanted a career in finance and real estate, which is why I chose to major in both at the University of Denver. After graduating, I landed my first role in the industry, and more than 40 years later, I’m still proud to be part of it. What makes your bank unique? At Vectra Bank, we like to say we’re big enough to count but small enough to care. We’re backed by a $90 billion institution, yet we maintain the local decision-making and customer focus of a true community bank. I appreciate the autonomy to run my market here in Colorado while still collaborating closely with our affiliate banks across the western United States. What is the most rewarding aspect of your job? What motivates me most is helping borrowers achieve their financial goals while enabling the creation of developments that truly matter to the community. By pairing smart, responsible financing with purpose-driven projects, we’re able to build something unique — something that supports growth, strengthens local economies and leaves a positive mark on the region. Tell us something about yourself that most people don’t know. Something many people don’t know about me is that I spent 20 years coaching competitive baseball. I was fortunate to lead a team to a national championship and coach two players who later played professionally — one in the major leagues and another in Double-A. Another fun fact is that I am related to Zebulon Pike, the namesake of Pike’s Peak. What do you listen to on your morning commute? Usually country music, but I also enjoy classic rock. Kaycee Lytle Greeley Market President Bank of Colorado How did you get started in the banking industry? I never initially considered banking as a career, but that changed when a rural bank president spoke to my senior capstone class at Oklahoma State University. His comments about helping farmers, ranchers and local businesses meet their financial needs resonated with me and my agricultural background. I had already accepted a role in a different industry, but when I ultimately chose to make a career change, I began pursuing opportunities in lending. More than 20 years later, I am grateful to have built a banking career that has allowed me to serve exceptional communities in Colorado and Wyoming — an outcome I can trace back to that single classroom experience. What do you like to do to give back to the community (either personally, as a bank representative or both)? I believe a successful community banker must be actively involved in the community they serve to truly understand its needs beyond the bank’s walls. I currently serve as president of North Range Behavioral Health and treasurer of the Greeley Area Chamber of Commerce, and I am a past president of the Weld Food Bank. These roles have deepened my understanding of challenges and opportunities in my community and strengthened my ability to advocate for agriculture while helping build sustainable local solutions. What is the most important thing you’ve learned from a career in banking? One of the most important lessons I have learned in banking is reflected in a quote that has sat on my desk for nearly 15 years: “Consistency is critical. Consistency will overcome resistance. Consistency creates credibility. Credibility creates trust.” While banking has been anything but consistent — marked by mergers, economic cycles and regulatory change — I have found that providing steady leadership and guidance through change builds trust with employees, customers and communities alike. When you were a child, what did you want to be when you grew up? I grew up on my family’s cattle ranch and have always wanted to have a ranch of my own — I’m still working on that! What is your favorite movie or book, and why? My favorite movie is “October Sky.” Its portrayal of rural kids working hard, believing in possibilities and creating opportunities through persistence reflects the values I strive to model in both my career and my leadership. 13 Colorado Banker
Less Enforcement Doesn’t Mean Less Risk By Robert Brosh, Director of Regulatory Compliance, Ncontracts When was the last time you reviewed your fair lending program? Did you do it because the risk warranted it, or because an examiner was coming? For many lenders, it’s tempting to stay stagnant in the current regulatory environment. Federal agencies are pulling back, disparate impact is deprioritized, and exams are less frequent. If the regulators aren’t pushing, why should we? It’s an understandable question, but the answer is more complex than it seems. The Department of Justice’s (DOJ’s) $68 million fair lending settlement with a Texas lender and developer in February 2026 is a useful starting point. Enforcement activity may be quieter overall, but when violations are pursued, the consequences are steeper than ever. Fair lending risk is shifting, not shrinking, and the lenders who recognize that now will be better positioned than those who find out the hard way. What’s Changed at the Federal Level The CFPB’s latest Fair Lending Report formalized what lenders knew and navigated throughout 2025. For example, the OCC deferred fair lending exams through Jan. 31, 2026, and the FDIC adjusted exam frequency based on asset size and compliance ratings. The CFPB also signaled it will no longer request expansive data sets unrelated to active exams. While these are real changes, the underlying laws haven’t changed. The Fair Housing Act (FHA) and the Equal Credit Opportunity Act (ECOA) remain intact. The 2015 Supreme Court ruling affirming disparate impact liability was grounded in the statute itself — not agency regulations — and current proposals to remove disparate impact from agency rules face a long road through the Administrative Procedures Act and likely litigation. The Federal Reserve, notably, hasn’t indicated it will stop analyzing disparate impact at all. Top takeaway: What your specific federal regulator is saying matters — and it’s worth tracking closely. The signals vary depending on who examines you, and they’re still evolving. The States Are Stepping In For lenders across the United States, keeping up with state-specific updates is crucial, as enforcement has largely shifted to the state level. Former CFPB Director Rohit Chopra is now advising state attorneys general, helping coordinate strategy around predatory lending, AI decisioning and areas where federal oversight has receded. States are increasingly sharing data, aligning legal theories and building coordinated enforcement programs. The activity is already visible: • New York expanded its consumer protection authority to address unfair and abusive lending practices, including pricing, underwriting and marketing practices. • New Jersey codified disparate impact under state law and issued AI governance guidance with explainability expectations that go beyond current federal requirements. • Massachusetts reached a $2.5 million settlement with a lender over AI-driven underwriting, focusing on model overrides without documented guardrails and on adverse action notices that didn’t adequately explain credit decisions. Top takeaway: A fair lending framework built around federal examiners alone may leave meaningful gaps. It’s worth understanding the posture of every state where you actively lend. What a $68 Million Enforcement Action Looks Like The DOJ’s February 2026 settlement with a Texas-based land developer and lender is the most recent example of the domino effect of a single fair lending enforcement action. The company sold more than 12,000 land installment contracts to borrowers in the Houston area, targeting Hispanic buyers with marketing almost exclusively in Spanish. The company charged interest rates well above market averages for the period, sold flood-prone property that often lacked basic infrastructure, and issued loans without verifying borrowers’ ability to repay — leading to high default and foreclosure rates. The settlement included infrastructure improvements, law enforcement investment in affected communities and operational restrictions that will change how the company does business for years. Top takeaway: Fewer cases don’t necessarily mean lower stakes. The consequences of violations can extend well beyond consumer remediation, creating additional operational and financial risks. FAIR LENDING in 2026 Colorado Banker 14
What Lenders Should Do Now As enforcement priorities shift, lenders must know where risk still exists and ensure the right controls are in place. Key areas include: • Know your full regulatory picture. Track your federal regulator and every state AG where you lend. • Monitor your data. Statistical disparities aren’t automatically violations but require explanation and follow-through. • Review discretionary decisions. Exceptions, overrides and pricing discretion often reveal inconsistencies that policies won’t. • Govern AI and third-party tools. Inventory and validate every model; ensure you can explain decisions. • Audit your marketing. Fair lending exposure extends beyond underwriting. • Don’t overlook private litigation. ECOA has a five-year statute of limitations; FHA has a two-year statute of limitations. • Keep documentation current. Today’s records are tomorrow’s defense. Final Thoughts Quieter doesn’t mean calm. The legal obligations are unchanged, private litigation runs on its own timeline, and state enforcement is becoming more organized, not less. Lenders who keep controls in place now will be better positioned when the landscape shifts again. About Ncontracts Ncontracts provides integrated risk management, compliance, and third-party risk management solutions to over 5,500 organizations worldwide, including 4,500 U.S. financial institutions, mortgage companies and fintechs. The flagship Ncontracts IRM suite combines AI-powered software with expert services, helping financial institutions streamline risk, compliance and vendor management through an intuitive, cloud-based platform. Ncontracts’ Venminder solution is trusted by enterprise financial companies and other large organizations to strategically manage third-party risk across the entire vendor lifecycle. Visit www.ncontracts.com for more information. YOUR DEBT PORTFOLIO MAY NOT BE KEPT IN HERE, BUT IT’S STILL AN ASSET They may not be currency, but debt portfolios which include credit card, auto deficiency, overdraft, judgements or commercial and consumer loans definitely have value. We’ll buy your debt portfolio from the last four years, with minimum sizes of $100k on at least ten accounts and no maximums. We’ll even walk you through the sales process to help with compliance and data integrity. To offload your debt portfolio, contact Craig Geisler at cgeisler@cherrywoodenterprises.com or (321) 247-5066. 15 Colorado Banker
Celebrating the Women Shaping the Future of Colorado Banking In 1978, the Women’s Bank of Denver became one of the nation’s first banks founded by women and dedicated to serving their financial needs. Its creation is part of a long legacy of women shaping Colorado’s banking landscape — making their mark as founders, executives and board members in institutions of every size across the state. Today, the women at the helm of Colorado banks continue that legacy, guiding their organizations, strengthening local communities and inspiring the next generation of bankers. In this issue, we are proud to highlight a group of exceptional female leaders who are driving the industry forward. Gabby Hodgson President, Bank of America Colorado Greater Denver Market Executive and Managing Director, Merrill Wealth Management Gabrielle “Gabby” Hodgson serves as president of Bank of America Colorado, where she connects clients, teammates and communities to the full capabilities of the Bank of America franchise. This work entails driving integration across eight lines of business and leading strategies to strengthen local relationships, expand market presence and deepen client engagement. Gabby also serves as market executive for the Greater Denver market of Merrill Wealth Management, where she leads teams of financial advisors and professionals who deliver goals-based wealth management tailored to clients’ priorities, including retirement, education and legacy planning. Before assuming her current role, Gabby served as associate market manager and later as market executive for the Western Pennsylvania market. She joined Bank of America in 2018 following an 18-year career as a sales executive with asset management firms, including Goldman Sachs and Vanguard. Gabby is committed to community leadership. She recently served on the board of the American Heart Association of Denver and is currently on the Development Committee for the Food Bank of the Rockies. Outside the office, Gabby enjoys traveling and spending time with her husband, Chad, and their children, Otto and Tatum. WOMEN Leading theWay Colorado Banker 16
Aimee Love Colorado Market President, First Interstate Bank As president of First Interstate Bank’s Colorado market, Aimee Love brings nearly two decades of experience in banking, commercial real estate finance and strategic leadership. Known for her relationship-driven approach and ability to build high-performing teams, she has established herself as a respected voice in Colorado banking and a champion for clients and colleagues alike. Aimee’s career spans leadership roles across regional financial institutions, where she has guided teams through both periods of rapid growth and challenging market cycles. Her work has included leading one of Colorado’s top-performing CRE banking teams, advising on complex debt and equity structures, and supporting developers, investors and communities with thoughtful, long-term financial solutions. In her current role, Aimee focuses on empowering bankers across the state, ensuring they have the clarity, tools and confidence to deliver exceptional outcomes. She believes that when teams feel supported and clients feel understood, strong results naturally follow. Her leadership style is rooted in collaboration, transparency and a deep respect for the people behind every business and every deal. Her commitment to community is evident in her work, supporting local development, engaging in affordable housing initiatives and volunteering alongside colleagues. She holds a personal passion for efforts that support children and youth, particularly in underserved communities. Aimee continues to inspire by showing what’s possible when strong strategy meets authentic relationships. Her dedication has earned industry recognition, including being named a CREW Women of Influence Trailblazer nominee and a BisNow Denver Dealmaker of the Year honoree. She is helping shape the future of banking in Colorado while championing the next generation of women leaders in the industry. Jennifer Luce Executive Vice President, FirstBank, now part of PNC Jennifer Luce serves as executive vice president at FirstBank, now part of PNC, where she leads the South Metro market and oversees the growth, profitability and operations of a $2.4 billion market with 10 branches and more than 120 employees. With more than 27 years of experience in banking and financial services — including 25 years with FirstBank, now part of PNC — Jennifer has built a career focused on relationship banking, commercial lending and leadership development. She manages a team of 20 officers and has played a key role in growing loans by more than $220 million annually while supporting continued deposit growth across the market. In addition to her work at FirstBank, now part of PNC, Jennifer is deeply involved in industry and community leadership. She serves on the board of the Colorado Bankers Association and was appointed to the Colorado Secure Savings Program in 2023. She is also active with Commercial Real Estate Women Denver, where she currently serves as president, and the American Cancer Society (Metro Denver). Jennifer is a graduate of the Pacific Coast Banking School and earned her bachelor’s degree in business administration from the University of Nebraska at Kearney. She was recognized as an Outstanding Woman in Banking in 2024 and received the Banker of Distinction award from the Colorado Bankers Association in 2018. 17 Colorado Banker
Gretchen Wahl Regional Vice President, Commercial Banking, FNBO As regional vice president of commercial banking at FNBO, Gretchen provides strategic leadership across four community commercial banking teams. Her focus is on strengthening client relationships, driving sustainable growth and developing high-performing teams. Her responsibilities include overseeing commercial banking teams, establishing market development strategies and ensuring exceptional service delivery that aligns with FNBO’s commitment to community banking excellence. With a collaborative leadership approach, she guides her commercial banking professionals in delivering FNBO’s comprehensive suite of financial services, including credit facilities, treasury management and specialized industry solutions across its regional footprint. Gretchen brings over 30 years of diverse banking experience to FNBO and her teams. She has a Bachelor of Science in management from Penn State University and has completed the Stonier Graduate School of Banking through the American Bankers Association. Her dedication to her profession and clients has been documented through several honors, including recognition as a Top 50 Business Leader and a Woman Who Lights the Community. She is also a Leadership Boulder graduate and served on the Colorado Economic Development Commission. Currently, she serves as co-chair of the Boulder Chamber Economic Council, co-chair of Boulder Together and board member of the Colorado Bankers Association. “Through strategic partnerships with our customers, we foster business success that strengthens our community. This collaborative approach creates shared value — benefiting our bank, empowering local businesses and enhancing the vitality of the communities we serve,” says Gretchen. Niki Stotler President and CEO, High Country Bank Niki Stotler is the president and chief executive officer of High Country Bank in Salida — one of the state’s longest-standing community banks, originally chartered in 1886. She is passionate about preserving the relationship-driven model of community banking while helping rural Colorado communities grow and thrive. She believes strong leadership is rooted in humility, collaboration and empowering others to succeed. “Leadership isn’t about being the loudest voice in the room — it’s about lifting others up and creating opportunities for the next generation of leaders to thrive,” says Niki. Through her leadership, she is committed to strengthening Colorado communities and shaping the future of community banking. Colorado Banker 18
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