Interview with president/CEO of The Bank at Broadmoor in Colorado

Ed Sauer's career in the banking industry started not by making loans, but by collecting on defaulted loans. Repossessing cars and furniture taught Sauer valuable lessons about the responsibilities of underwriting loans, he said.

"You get a different perspective about loaning money when you start out having to collect from people who can't pay their loan," Sauer said. "It gave me a much better perspective on (people's) character."

Sauer continued his career at United Bank, which later became Wells Fargo, as a commercial loan officer. He then held executive positions at Pikes Peak National Bank and Western National Bank, before being promoted to president and CEO of The Bank at Broadmoor.

Since Sauer joined The Bank at Broadmoor 19 years ago, its assets have grown from $10 million to $134 million, its employee count has grown from nine to 54, and its locations have increased from one to four.

Sauer recently took the time to tell CSBJ about himself and his business.

Organization: The Bank at Broadmoor

Position: President/CEO, director and shareholder

Hometown: Garden City, Kan.

How long have you lived in Colorado Springs: My parents moved to Colorado Springs when I was 3, so 55 years.

Education: William J. Palmer High School in Colorado Springs. Graduated from the Colorado Graduate School of Banking at the University of Colorado at Boulder.

A few words about your company: The Bank at Broadmoor is the largest locally owned and managed bank in Colorado Springs. All the shareholders and directors of the bank work and live in Colorado Springs. Our philosophy is to treat each customer with individualized care and focus on businesses and consumers who highly value a partner in their banking relationship.

Recent accomplishments: This month, we opened our fourth location at 3216 W. Colorado Ave.

Biggest career break: When I landed a job with United Banks of Colorado (now Wells Fargo Bank) in 1972 and more importantly being taken under the wing of Dick Dailey, who was senior vice president in charge of lending at United Bank of Colorado Springs. The knowledge, experience and mentoring I received has helped me immensely throughout my banking career. Being elected president and CEO of The Bank at Broadmoor is the highlight of my career.

Toughest part about your job: Turning people down for a loan. Sometimes the financial decisions we make are difficult to convey to the potential borrower.

Someone you admire: My father, who taught me honesty, a strong work ethic and respect. Blakemore McCarty, who has challenged me to do bigger and better things, and Gordon Price (chairman of the board of The Bank at Broadmoor) who has always provided understanding, confidence and support.

About your family: I have been married to my wife, Linda, for 39 years. I have two sons: Kevin, a PGA golf professional in Aspen; and Aaron, the creative director for the Professional Bull Riders Association. I have three grandsons, Cameron, Cole and Chase.

Something else you'd like to accomplish: I want to ride my Harley across the United States.

How your business will change in the next decade: Banking seems to be an ever-changing industry. I would expect more regulation regarding identity theft, privacy, increased competition for funding sources, and a shift in the way products and services are delivered.

What book are you currently reading: "Good to Great" by Jim Collins.

What is the one thing you would change about Colorado Springs: I have lived here the majority of my life and would not want to live anywhere else. Of concern is our plan for infrastructure to handle the population increase and the immediate need for an east-west thoroughfare.

Copyright 2007 Dolan Media Newswires
Provided by ProQuest Information and Learning Company. All rights Reserved.