CIC Bancshares has received an investment from Consumer Capital Partners and Rick Schaden, CPR’s founder and chairman. Financial terms weren’t announced. Denver-based CIC operates Centennial Bank.
Consumer Capital Partners, (CCP), the owner of the fastest growing better burger chain in America, Smashburger, announced today that its Founder and Chairman, Rick Schaden, is diversifying his investments further by investing in a local Colorado-based bank holding company, CIC Bancshares, the owner and operator of Centennial Bank. The privately-owned bank has nine locations throughout the Front Range and mountain resort communities. Schaden made the investment in CIC Bancshares to support Centennial Bank’s mission of providing loans to small businesses and contribute to the strength of the Colorado economy.
“People often ask me to talk about what drives me or what inspires me. The answer has always been about helping small businesses and fostering entrepreneurialism,” said Schaden “I remember how I got my start in business with a loan from my dad and a local small business bank. Without this financial support, I would have never been able to open my first restaurant. Today I look back and see how that initial help allowed me to develop and grow two international restaurant chains and invest in a variety of other business ventures. It was apparent that Centennial Bank shares this same passion for supporting small businesses and entrepreneurs.”
Supporting small-to-mid sized businesses is a strategic vision of Centennial Bank. Local manufacturers, professional services firms, real estate developers and construction contractors are all examples of small businesses that are receiving financial support through Centennial Bank. According to Kevin Ahern, President and CEO of CIC Bancshares and Chairman of Centennial Bank, “We pride ourselves on fueling local economic growth by providing capital to small business owners. It’s our niche, along with our relationship-based business approach with our customers. With Rick’s involvement, combined with our extensive list of other local shareholders, we not only have access to the capital resources we need to grow, but we also have extensive Colorado-based business connections that lead to additional business for the bank.”
About Consumer Capital Partners
Consumer Capital Partners is an innovative investment and operating company focused on consumer and lifestyle brands like Smashburger, the USA Pro Challenge (professional cycling race), CIC Bancshares and Centennial Bank, FrontRange Capital Partners, as well as associated restaurant concepts like Tom’s Urban 24.
About CIC Bancshares and Centennial Bank
CIC Bancshares, Inc. is a privately-held Colorado-based bank holding company focused on acquiring and developing banking and financial services assets in Colorado and the Rocky Mountain West. Centennial Bank, established in 1986 and acquired by CIC Bancshares, Inc. in 2010, is a full-service community bank focused on providing banking solutions to businesses, business-owners, professionals and consumers in Colorado. Centennial Bank provides personalized service to customers for their business and personal banking needs with nine locations and over $400M in assets. For more information, please visit www.CentennialBanking.com.