Ahern Assumes Board Positions as InBank Continues Growth in Total Assets, Deposits and Market Share
Denver, CO – November 23, 2020 – InBankshares, Corp and InBank, an independent commercial bank serving the Denver Metro Area, southern Colorado and northern New Mexico, today announce that veteran banking and finance executive Kevin Ahern has joined the Boards of Directors of both InBankshares, Corp and InBank.
Ahern is Managing Partner of Brush Creek Partners, a Denver-based private equity firm, and the former Chairman, Founder and CEO of CIC Bancshares, a Colorado-based bank holding company, and Chairman of Centennial Bank. He served as a senior executive with Heartland Financial USA, Inc. a $12 billion bank holding company, after Heartland’s acquisition of Centennial Bank in 2016. Ahern has 35 years of expertise as an operator and investor in private equity, banking, financial services and investment management.
“We are honored to welcome Kevin to Boards of Directors and could not be more excited about the expertise and passion he will bring to our organization. Kevin is a deeply-respected and well-connected leader in the Colorado business community who will undoubtably help us continue to deliver on our mission to become the premier business bank in the Denver Metro Area,” says Ed Francis, Chairman of the Board, President and Chief Executive Officer for InBankshares, Corp and InBank. “Kevin’s involvement with our organization reflects confidence in our continued growth. His deep experience and entrepreneurial endeavors compliment and align with our history and our vision for the future as a bank that has been built with similar entrepreneurial spirit.”
InBank’s recent growth is reflected in the company’s third quarter financials showing a $249 million or 68% year-over-year growth in total assets, $166 million or 61% year-over-year growth in core deposits and a significant increase in market share after completing two consecutive years of the highest percentage of FDIC market share growth compared to peers in the Denver MSA, according to the FDIC Summary of Deposits June 30, 2020.
“I am pleased to be joining the InBankshares, Corp and InBank Boards of Directors,” says Ahern. “I believe InBank is well-positioned to be a leading business bank across the Front Range of Colorado and in New Mexico. I look forward to supporting Ed and his team on executing their plans in the coming years.”
About InBankshares, Corp
InBankshares, Corp is the holding company for InBank, an independent commercial bank serving the Denver Metro Area, southern Colorado and northern New Mexico. Established as International Bank in 1918, the bank was founded by a young Italian immigrant and built upon the entrepreneurial spirit. With a modern vision for the next 100 years, InBank is committed to delivering a new generation of personalized banking services and to the mission of positively impacting the lives of our customers, communities and associates. For more information, visit www.InBank.com.
This press release contains, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements preceded by, followed by, or that include the words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “projects,” “outlook” or similar expressions. These statements are based upon the current belief and expectations of InBankshares, Corp’s management team and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond InBankshares, Corp’s control). Although InBankshares, Corp believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, InBankshares, Corp can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by InBankshares, Corp or any person that the future events, plans, or expectations contemplated by InBankshares, Corp will be achieved.
All subsequent written and oral forward-looking statements attributable to InBankshares, Corp or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. InBankshares, Corp does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law. # # # InBank is a Member FDIC and Equal Housing Lender.