SouthState Bank is giving its new Colorado home a facelift.
The Florida-based institution is spending $3 million to remodel its 25,000 square feet across one-and-a-half floors of office space at 1331 17th St. in Downtown Denver. The office used to belong to Independent Financial, the Texas-based parent of Independent Bank that SouthState acquired earlier this year.
The LoDo spot is SouthState’s main Colorado office, according to Mark White, president of the Colorado market for the bank. About 60 employees work there.
“We’re bullish on downtown, we’re bullish on Colorado and we’re bullish on Denver, for sure,” said White, who was previously in the same role for Independent Bank.
The 17,500-square-foot second-floor office space will get new paint, carpet and furniture, plus a kitchen and break area, White said.
On the first floor, where SouthState has 7,800 square feet, the bank is making changes to windows to allow more natural light in. The retail branch within the first floor, which was renovated in 2020, won’t be changed, White said.
Technology upgrades are also planned. The project kicks off in the next few weeks and should be finished within four months, White said.
SouthState had the 12th-highest deposit share of Denver-metro banks as of June 30, according to the most recent deposit survey by the Federal Deposit Insurance Corp. White said the bank has $4 billion in loans and $4 billion in deposits in the Centennial State.
White said SouthState didn’t lay off any of Independent Financial’s 450 Colorado employees after the acquisition and has added eight bankers. It has rebranded all of Independent Bank’s 31 branches.
White said he hopes to open two or three more branches along the Front Range within the next few years.
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