The Gunnison Bank and Trust Company
“The Gunnison Bank and Trust Company was issued its Charter from the State of Colorado in 1910. Over the last 100 years, the bank has continually evolved to serve the ever changing financial needs of the Gunnison Valley. The bank now serves the valley with two branches, The Gunnison Bank and The Crested Butte Bank. The bank recently expanded to the front range of Colorado with a Loan Production Office in the Denver Tech Center, bringing over 100 years of small town personal service to the big city.”
- website: https://www.gunnisonbank.com/
Cannabis Banking Services
States Served:
- Colorado
Official cannabis banking page: NA
Media coverage:
- Westword: How Far Has Colorado Come on Marijuana Banking Promises?
Because they work with a federally controlled substance, marijuana businesses are often forced to operate in cash. While there are state-chartered banks and credit unions that will serve marijuana businesses, that service is done at a much higher risk for the bank, and at a much higher cost for the marijuana business, according to Ashley Burt, president and CEO of the Gunnison Bank and Trust Company. “The stakes got a lot higher. There was a lot more activity, and it was scrutinized a lot closer,” Burt said during a recent town hall held by the state Marijuana Enforcement Division. “We aren’t gouging the industry. We look at this risk in two buckets: There was legal risk and threat of criminal prosecution. Then there was the compliance risk. A lot of people assumed we charged a premium for the legal risk, and that wasn’t the case.”
Bank Health Rating
DepositAccounts.com Rating: link
- DepositAccounts considers several health grade components:
- Texas Ratio (measuring bank credit risk);
- Texas Ratio trend;
- Deposit growth;
- Capitalization (difference between bank assets and liabilities).