CoBiz Financial in Denver has added the owner, chairman and chief executive of the Colorado Rockies baseball franchise to its board.
The $3.1 billion-asset company said in a press release Thursday that it selected Richard Monfort due to his wide-ranging business experience.
"We look forward to leveraging his knowledge to ensure we remain a leader in our sector," Steve Bangert, the companys chairman and chief executive, said in the release. Monfort's "commitment to serving the needs of his community also aligns perfectly with our culture of giving back."
Monfort, who has been associated with the team for 18 years, has been in his current posts since 2010. He previously worked in the cattle business serving as president of Monfort of Colorado and president and CEO of ConAgra Red Meats in 1991. He also launched Montera Cattle Co. in 1996.
The company also announced that its second-quarter earnings fell 14% from a year earlier, to $7.2 million. The company recorded a nearly $1.1 million loan loss provision, compared to a $941,000 reduction in the loan-loss allowance a year earlier.