First Southwest Bank

What First Southwest Bank does

First Southwest Bank is a CDFI-designated community bank headquartered in Alamosa, Colorado, operating six branches across rural Southern Colorado (Alamosa, Center, Cortez, Durango, Pagosa Springs, Saguache). Founded in 1905 and rebranded in 2004, it is the only bank with a U.S. Treasury CDFI designation serving the Four Corners states and holds SBA Preferred Lender and USDA program status. As of 2024 the bank reported $565.9M in total assets and $395M in total deposits, with 97 employees, 27 community-board seats, and 53% employee volunteer participation. Its core lending book is granular — 434 loans totaling $89.9M in 2024 — distributed across personal banking (checking, savings, CDs, auto, HELOC, Simply Rewards Visa), business banking, and a deep stack of government-backed lending (SBA 7(a)/504/Express/CAPLines, USDA B&I up to $25M, CHFA, and other CDFI programs). Proprietary mission products include a Credit Builder Loan program with a 70% success rate, Workforce Rental Assistance micro-loans at 4% APR, on-bill energy-efficiency financing via a La Plata Electric Association partnership, and a Child Care Capital and Infrastructure Fund launched in 2026.

The bank's holding company, First Southwest Bancorporation, has developed HelloBello, a Banking-as-a-Service platform that lets other community banks and credit unions access CDFI funding sources and impact deposits. Its 501(c)(3) nonprofit arm, First Southwest Community Fund, has deployed over $30M in alternative capital since 2015 with a 5.2x leverage multiplier and is credited with creating 997 jobs. Revenue is generated through standard community-bank mechanics: net interest income on the lending book, deposit and interchange fees (the Simply Rewards Visa is issued through UMB Bank), and merchant services. Funding is sourced from community deposits, $4.96M in CDFI Fund grant capital (April 2023), and impact deposits including a $10M ZOMA Foundation placement, $10.2M from 44 organizations via QwickRate, and CNote-administered deposits. Distribution combines physical branches, a digital platform (online, mobile with QuickBooks/Autobooks integration, Zelle, Card Control), an in-house call center launched in 2024, and partnership channels through SBA, USDA, CHFA, and other CDFIs.

Name

First Southwest Bank

Legal name

First Southwest Bank

Website

https://fswb.bank

Company type

Private

Founded year

1905

Operating status

Operating

Headcount range

101–250 employees

Short description

First Southwest Bank is a CDFI-designated community bank in rural Southern Colorado that provides personal, small-business, and government-backed (SBA, USDA, CHFA) lending to underserved borrowers, and operates the HelloBello BaaS platform and a 501(c)(3) impact fund.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

akta.pro secondary industries

SBA/Government-Backed & Development Finance Loans (FSAKAGAI), Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB)

Keywords

• Community banking services
• SBA small business lending
• Agricultural loans
• Affordable housing finance
• CDFI community development

Headquarters

HQ city

Alamosa

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income - Lending: Traditional bank lending generating interest income from personal loans (auto, credit cards, HELOC), business loans (commercial, agricultural, SBA 7(a), USDA B&I), affordable housing loans, and specialized programs including Credit Builder and rental assistance micro-loans. Interest rates vary by product with preferred rate reductions for automatic payments and electronic statements.
2. Deposit Services: Checking, savings, and CD accounts generating revenue through account fees, overdraft charges, and deposit retention. Offers Checkless Checking for underserved populations certified by Bank On.
3. Credit Card Revenue: Simply Rewards Visa credit cards issued through UMB Bank, earning interchange revenue and balance transfer fees (3% with $15 minimum)
4. On-Bill Financing: Energy efficiency and solar loans through partnership with La Plata Electric Association (LPEA), generating interest income on loans up to $60,000 for LPEA members
5. Community Development Partnerships: CNote and QwickRate deposits from organizations seeking CRA credit, ZOMA Foundation $10M impact deposit, attracting partner banks seeking meaningful community development investment opportunities

Pricing tiers

Go-to-market motion3 records

Distribution channels9 records

Marketing channels7 records

Core offering

First Southwest Bank is a CDFI-designated community bank delivering personal and business deposit products (checking, savings, CDs, credit cards), consumer lending (auto, HELOC, personal, Credit Builder), and commercial/agricultural/SBA/USDA/CHFA lending across six rural Colorado branches, supplemented by a Banking-as-a-Service platform (HelloBello) and a nonprofit affiliate (First Southwest Community Fund) that channels mission-aligned capital and grants to underserved rural Colorado entrepreneurs, farmers, housing developers, and Native-owned businesses.

Product overview

First Southwest Bank is a locally-owned community bank and one of two CDFI-designated banks in Colorado, offering a comprehensive portfolio of banking and lending products. The bank's core offerings include personal banking services (checking, savings, credit cards, auto loans, and the Credit Builder Loan Program), business banking solutions (checking, savings, merchant services, and business credit cards), and specialized lending programs including SBA 7(a) loans, USDA loans, and Colorado Credit Reserve. The bank has developed innovative digital banking tools including online and mobile banking with QuickBooks and Autobooks integration, and operates HelloBello, a Banking as a Service technology platform that helps community lenders access CDFI funding resources. Through its nonprofit partner, First Southwest Community Fund, the bank extends access to capital for underserved entrepreneurs through specialized loan funds including the Affordable Housing Investment Fund, Rural-Led Business Fund, Fortaleza Fund, and workforce rental assistance programs. The bank serves six Southern Colorado branches in Alamosa, Center, Cortez, Durango, Pagosa Springs, and Saguache.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking

Quantifiable outcome

• 997 jobs created and 469 jobs retained by FSWCF over decade of operation
• +4 more outcomes

Named customers29 records

Segments7 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Partnerships

15 partnerships are on record, tiered core and minor.

• La Plata Economic Development AlliancecoreStrategic or Co-development Partner · 20 April 2026Partner in La Plata County's five-year, $20 million Early Childcare Strategic Investment Plan. FSWB and FSWCF operate $10M Childcare Investment Fund and $10M Childcare Capital & Infrastructure Fund.
• Navajo NationcoreStrategic or Co-development Partner · 7 April 2026New agreement expanding FSWB's native lending capacity through partnership with Navajo Nation. Builds on growing presence in Native lending through NSBCI (Navajo Small Business Credit Initiative).
• ATNI EDCcoreStrategic or Co-development Partner · 27 January 2026Affiliated Tribes of the Northwest Indians Economic Development Corporation partnership expanding capital access for Native-owned businesses through State Small Business Credit Initiative (SSBCI).
• Change LabscoreImplementation/ SI/ Consulting Partner · 27 June 2025Navajo Nation business incubator connected FSWB with Alvina Earnhart for first NSBCI loan nationally. Change Labs provides specialized support and access to NSBCI funding administered by FSWB for Navajo small businesses.
• Colorado Health FoundationcoreStrategic or Co-development Partner · 1 January 2025Colorado Health Foundation Loans provide low-interest, flexible financing to organizations improving health and well-being of Coloradans. Loans support capital projects, program expansion, and capacity building in underserved rural communities.
• Bank OnminorStrategic or Co-development Partner · 1 January 2025Cities for Financial Empowerment Fund's national Bank On platform supports local coalition and financial institution efforts. FSWB's Checkless Checking account is certified by Bank On as a safe, low-cost bank account.
• HomesFundcoreStrategic or Co-development Partner · 1 January 2025$12.4 million CDFI loan fund helping over 1,700 families achieve homeownership through pre-purchase counseling, homebuyer education, and down payment assistance. FSWB made critical investment in 2025 to ensure loan fund's continued operation.
• HelloBellocoreTechnology or Integration · 1 January 2025Banking as a Service (BaaS) platform developed by holding company First Southwest Bancorporation. Allows community banks and credit unions to search FSWB's CDFI funding options and view capital stack recommendations for their loan customers, extending FSWB's impact ecosystem-wide.
• First Southwest Community Fund (FSWCF)coreStrategic or Co-development Partner · 1 January 2025501c3 nonprofit partner created in 2015 providing access to capital and gap funding for rural Colorado entrepreneurs. As of 2022, funded $86.7M+ in projects with every $1 of FSWCF lent leveraged 5.2 times. Deploys over $1.9M annually in alternative loans, grants, and educational programming.
• Boys and Girls Clubs of the San Luis ValleycoreStrategic or Co-development Partner · 1 January 2025FSWB helped BGCSLV navigate complex $10.7 million New Market Tax Credit deal for Early Childhood Learning Center in Alamosa. Center provides 160 childcare spots for children 6 weeks to 6 years, creates 31 living-wage jobs, with 10 modern classrooms.
• USDA Rural DevelopmentcoreStrategic or Co-development Partner · 1 January 2025Ten-year collaboration with USDA providing Business & Industry Guaranteed Loans and Community Facilities Relending programs. Enables FSWB to offer government-guaranteed financing to rural businesses and essential community facilities.
• SBA (U.S. Small Business Administration)coreStrategic or Co-development Partner · 1 January 2025Preferred SBA rural lender offering 7(a), Express, 504, and CAPLines programs. FSWB named SBA Colorado Rural Lender of the Year 2024, 2022, and 2021 Community Rural Lender of the Year.
• Colorado Lending SourcecoreChannel Partner/ Reseller/ Distributor · 1 January 2024SBA 504 loans financed in part by First Southwest Bank, Colorado Lending Source (50% bank, 40% SBA, 10-20% borrower equity). Colorado Lending Source packages SBA 504 loans for FSWB.
• CHFA (Colorado Housing and Finance Authority)coreStrategic or Co-development Partner · 1 January 2024FSWB partners with CHFA providing Colorado Credit Reserve (CCR) and Green Colorado Credit Reserve programs for small businesses - quick processing, limited application forms, competitive rates, startup eligible up to $250,000.
• La Plata Electric Association (LPEA)coreStrategic or Co-development Partner · 1 January 2015Partnership delivering On-Bill Financing for LPEA members - low-cost loans for energy efficiency and solar installations up to $60,000. Loan payments repaid through monthly LPEA electric bill. FSWB provides loan capital, LPEA handles billing and collection.

Scale indicators15 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Alpine Bank: Colorado-based community bank with an extensive Western Slope branch network serving rural communities. Comparable multi-branch community banking model with strong local-relationship focus and similar deposit-funded small business and consumer lending franchise.
• Sunflower Bank: Mid-size community bank with deep SBA preferred-lender and USDA lending programs serving small businesses and ag producers. Closely comparable mission-driven small-business lending focus and government-guaranteed loan portfolio.
• Live Oak Bank: National digital-first community bank specializing in SBA lending to small businesses and niche industries. Comparable model of building a specialized community-bank franchise around SBA 7(a) lending and purpose-built small-busin
• Optio Bank: Colorado-headquartered CDFI-designated community bank with a mobile-first/technology-driven approach to serving unbanked and underbanked populations. Direct CDFI peer with similar regulatory moat and mission focus on financial inclusion.
• Beneficial State Bank: Certified B Corp and CDFI community bank serving low-income and underbanked communities in the Western U.S. with comparable mission of community development lending and CDFI-funded programs.

Broad incumbents

• Pinnacle Financial Partners: Large multi-state community bank with strong small-business and SBA lending franchise in the Southeast. Comparable product set (SBA, USDA-style programs, deposit gathering) but operates at substantially greater scale and geographic scope.
• Glacier Bank: Large multi-state community bank holding company serving Western U.S. rural and suburban markets. Comparable community-banking positioning in the Mountain West and Pacific regions, but at materially greater scale.
• FirstBank (Colorado): One of Colorado's largest community banks with statewide branch coverage. Overlaps FSWB's Colorado retail-banking footprint but operates at much greater scale with broader corporate-banking capabilities.
• Zions Bancorporation: Multi-state bank holding company with community-bank divisions including Vectra Bank in Colorado. Operates overlapping rural and small-business banking services in FSWB's markets but at vastly greater scale and product breadth.

Emerging players

• Capital Plus Financial: Certified CDFI non-bank small-business lender focused on SBA 504 and SBA 7(a) lending. Comparable mission of expanding capital access to underserved small businesses using government-guaranteed programs, but operates without a deposit base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/1stSWBank
• Facebookfacebook.com/firstsouthwestbank
• LinkedInlinkedin.com/company/first-southwest-bank
• Instagraminstagram.com/firstsouthwestbank

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Southwest Bank