Central Bank, a Denver-based unit of First Bank System, Minneapolis, is setting up a full-service brokerage program with help from Library Securities. Central Bank will offer a range of equity and bond mutual funds and annuities through its 35 Colorado branches.

"Our customers have been asking for conservative investment alternatives other than the traditional savings accounts and CDs," said Daniel Yohannes, Central Bank's president.

The bank picked Liberty, a subsidiary of Boston's Liberty Financial Cos., because of its "expertise, knowledge, and proven track record," Mr. Yohannes said.

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