Fortis Bank
Fortis Bank is a $1.3B-asset, FDIC-insured Colorado state-chartered commercial bank serving small-to medium-sized businesses in Colorado and Utah, with specialty verticals in healthcare/senior care, law firm, and self-directed retirement banking offered nationwide.
- Company typePrivate
- Founded2020
- HeadquartersDenver, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Fortis Bank does
Fortis Bank is a Colorado state-chartered, FDIC-insured commercial bank and a wholly owned subsidiary of Fortis Bancorp, with approximately $1.3 billion in assets, headquartered in Denver with a second office in Midvale (Salt Lake City metro). The bank serves small-to medium-sized privately held businesses primarily in Colorado and Utah, and offers self-directed retirement banking services on a nationwide basis. Its product portfolio is organized into four lines: (1) core commercial banking — commercial real estate financing, term loans, lines of credit, and deposit accounts; (2) treasury management — cash management, ACH/wire origination, fraud prevention tools (Check Positive Pay, ACH Positive Pay, user access controls with MFA), online and mobile banking, and remote deposit capture; (3) specialty verticals — healthcare/senior care banking with revolving credit, bridge, and term loans including HUD-insured options; law firm banking covering QSF, IOLTA, trust/escrow, and case-cost financing; and self-directed retirement banking offering Solo 401(k) checking, Self-Directed IRA with checkbook control, and non-recourse lending for real estate within retirement accounts (loan sizes $100K-$750K); and (4) Bitcoin Key Agent services delivered through a partnership with Unchained, providing cryptographic signature services for client bitcoin custody vaults.
The business model is a relationship-driven, sales-led commercial bank with deposit-funded lending at its core. Revenue is generated through net interest margin on commercial loans and specialty lending, plus fee income from treasury management, deposit services, and specialty verticals (self-directed retirement, law firm, healthcare). Pricing is not publicly disclosed. Distribution combines direct relationship banking with dedicated commercial bankers alongside self-serve digital channels (online banking, mobile app, remote deposit capture). Marketing is executed through the company website, press releases, and local business community engagement in Colorado and Utah.
Ownership is privately held under Fortis Bancorp, with no disclosed external funding rounds or institutional investors. The leadership team is built around CEO and co-founder Chris Luce, CFO Mark Olson (formerly of Altabank prior to its sale to Glacier Bancorp), CLO Josh Peters (formerly NBH Bank), CCO Ed Mennona, and CXO Laura Hildreth. The bank is a two-time Great Place to Work-certified employer (2023 and 2026) and was rebranded from Fortis Private Bank to Fortis Bank in 2024 to reflect its broader commercial banking positioning.
Fortis Bank firmographics
Firmographics- Name
- Fortis Bank
- Legal name
- Fortis Bank
- Website
- https://fortisbankus.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Fortis Bank is a $1.3B-asset, FDIC-insured Colorado state-chartered commercial bank serving small-to medium-sized businesses in Colorado and Utah, with specialty verticals in healthcare/senior care, law firm, and self-directed retirement banking offered nationwide.
- Ownership category
- akta.pro rank
Where Fortis Bank is headquartered
LocationHeadquarters
- HQ city
- Denver
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Fortis Bank business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Commercial Lending: Provides commercial real estate financing, term loans, lines of credit, and specialty lending solutions to middle-market businesses.
- Deposit Services: Checking, savings, and money market accounts along with deposit management services.
- Treasury Management: Cash management, fraud prevention, wire transfers, ACH origination, and other treasury solutions for business clients.
- Self-Directed Retirement Banking: Solo 401(k) checking accounts, Self-Directed IRA with checkbook control, and non-recourse lending for retirement account holders.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels3 records
Fortis Bank product offering
Product offeringCore offering
Fortis Bank is a state-chartered, FDIC-insured commercial bank that provides commercial lending (commercial real estate financing, term loans, lines of credit, specialty healthcare and non-recourse retirement lending), business deposit accounts, treasury management (cash management, ACH/wire transfers, fraud prevention), and self-directed retirement banking (Solo 401(k) checking, Self-Directed IRA with checkbook control, non-recourse lending) to small-to-medium-sized businesses in Colorado and Utah, with retirement services available nationwide. The bank also serves healthcare/senior care providers, law firms (QSF, IOLTA, case finance), and Bitcoin custody clients through a Key Agent service partnership with Unchained.
Product overview
Fortis Bank operates as a high-growth $1.3 billion commercial bank serving small-to medium-sized businesses in Colorado and Utah, with self-directed retirement services available nationwide. The bank's product portfolio centers on Commercial Banking (Commercial Loans, Deposit Accounts, Secure Online Banking, Treasury Management) with specialized verticals for Healthcare Banking (Revolving Lines of Credit, Bridge Loans, Term Loans), Self-Directed Retirement (Solo 401(k) Checking, Self-Directed IRA with Checkbook Control, Non-Recourse Lending), Law Firm Banking (QSF Banking, IOLTA Accounts, Case Finance), and Bitcoin Key Agent Services through Unchained partnership. Treasury Management functions as a cross-cutting capability across all segments, providing Account Access, Cash Management, and Fraud Prevention tools. The bank delivers services through secure online and mobile banking platforms with a focus on middle-market commercial and specialty clients.
Differentiator
Problem solved
Functional benefit
Products and services
- Commercial Loans Short and long-term financing solutions including commercial real estate financing, term loans, and lines of credit for working capital, partner buy-ins, and competitor acquisitions for small-to-medium-sized businesses.
- Deposit Accounts Business checking, savings, and money market accounts tailored to a company's financial plans and growth vision.
- Secure Online Banking Secure desktop and mobile access to business accounts for managing company cash flow from anywhere.
- Treasury Management Complete range of cash management, account access, and fraud prevention services to securely streamline financial operations for business clients.
- Revolving Line of Credit (Healthcare) Flexible working capital for day-to-day operating needs and cash flow timing in healthcare banking for skilled nursing and senior living facilities.
- Bridge Loan (Healthcare) Interim financing to support facilities during transition to permanent financing, including HUD-insured options, for skilled nursing and senior living facilities.
- Term Loan (Healthcare) Long-term financing for acquisitions, renovations, or other strategic investments for skilled nursing and senior living facilities.
- Fraud Prevention (Treasury Management) Security tools including Check Positive Pay, ACH Positive Pay, and User Access Controls with multi-factor authentication to protect business accounts against fraud.
- Solo 401(k) Checking Accounts Self-directed retirement banking solution providing accessible and reliable checking accounts for Solo 401(k) plans and the individuals who use them.
- Self-Directed IRA with Checkbook Control Swift and secure self-directed IRA accounts giving investors checkbook control over their retirement assets.
- Non-Recourse Lending Solutions Flexible and efficient non-recourse loans for self-directed IRAs enabling real estate investments within tax-advantaged retirement accounts with loan sizes from $100,000 to $750,000.
- Law Firm Banking Solutions Comprehensive banking products for law firms including trust account management, escrow services, and Qualified Settlement Fund banking.
- Case Finance Credit line for contingency-based law firms to finance case costs until settlement, paired with exclusive software for tracking costs and interest charges per case.
- Bitcoin Key Agent Services Bitcoin vault key management services through the Unchained partnership, providing cryptographic signature services for client bitcoin transactions with a 1 Business Day turnaround.
- Mobile Banking App Mobile application for secure account access, deposits, and transaction management on iOS and Android devices.
Companies that use Fortis Bank
Customer profileSegments4 records
Ideal customer profiles4 records
Fortis Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Fortis Bank partnerships and signals
Strategic signalScale indicators3 records
Recent moves6 records
Expansion highlights6 records
Fortis Bank competitors and assessment
Company assessmentDirect peers
- First Western Financial: Denver-based bank holding company with a similar specialty focus on private banking, wealth management, and commercial lending to privately held businesses and individuals in Colorado and surrounding markets. Directly comparable given shared geography, customer profile, and specialty-banking model.
- National Bank Holdings Corporation: Colorado-headquartered community bank holding company operating across multiple states with a commercial banking focus on SMBs. Multiple Fortis executives (CLO Josh Peters, Board Chair Lyne Andrich alumni network) have direct ties to NBHC, and the business model and customer profile closely overlap.
- Live Oak Bancorp: Publicly traded specialty commercial bank focused on niche verticals (veterinary, healthcare, small business lending) with a digitally enabled, relationship-driven model. Comparable as a community bank that has built scale by specializing in underserved SMB niches rather than competing on broad commercial banking.
- Independent Bank Group: Texas-based community bank holding company with a commercial banking focus on SMBs and specialty verticals (mortgage, energy). Comparable as a mid-sized regional commercial bank pursuing specialty lending niches while maintaining a relationship-banking culture.
- Customers Bancorp: Pennsylvania-based commercial bank with a focus on SMB lending, specialty banking verticals, and digital banking. Comparable as a mid-sized commercial bank building scale through specialty verticals and technology-enabled service.
- Provident Financial Services: New Jersey-based community bank holding company with a commercial and consumer banking focus on SMBs and middle-market clients. Comparable as a mid-sized regional bank pursuing steady organic growth in commercial lending.
- TowneBank: Virginia-based community bank with a commercial banking focus on SMBs and specialty verticals (including healthcare and law firm banking). Comparable as a relationship-driven mid-sized commercial bank building scale through specialty niches.
- Altabank / Glacier acquisition: Former Utah/Idaho community bank acquired by Glacier Bancorp in 2021 that previously employed Fortis CFO Mark Olson. Closely comparable in size, specialty commercial focus, and regional footprint prior to acquisition.
Broad incumbents
- Glacier Bancorp: Large regional bank holding company that has pursued a roll-up strategy of community banks across the western U.S., including the acquisition of Altabank (Fortis CFO Mark Olson's prior employer). Comparable as a regional consolidator and as an acquirer of community banks similar in profile to Fortis.
- BOK Financial: Large regional commercial bank with significant Colorado presence following the acquisition of CoBiz Financial. Multiple Fortis senior executives (Board Chair Lyne Andrich from CoBiz; Ben Dezen from BOK Financial) come from this institution, and the commercial banking model and SMB customer focus are closely aligned.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
Fortis Bank social profiles
Digital presenceFortis Bank compliance and trust
Trust signalCompliance3 records
Fortis Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fortis Bank leadership team
Management profileNumber of profiles
Profiles14 records
Fortis Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fortis Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fortis Bank
What does Fortis Bank do?
Fortis Bank is a state-chartered, FDIC-insured commercial bank that provides commercial lending (commercial real estate financing, term loans, lines of credit, specialty healthcare and non-recourse retirement lending), business deposit accounts, treasury management (cash management, ACH/wire transfers, fraud prevention), and self-directed retirement banking (Solo 401(k) checking, Self-Directed IRA with checkbook control, non-recourse lending) to small-to-medium-sized businesses in Colorado and Utah, with retirement services available nationwide. The bank also serves healthcare/senior care providers, law firms (QSF, IOLTA, case finance), and Bitcoin custody clients through a Key Agent service partnership with Unchained.
Is Fortis Bank a public or private company?
Fortis Bank is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Fortis Bank founded?
Fortis Bank was founded in 2020. It employs 51 to 100 people.
Where is Fortis Bank based?
Fortis Bank is headquartered in Denver, United States, in the North America region.
How does Fortis Bank make money?
Four revenue lines are on record. Commercial Lending is the primary driver. The others are deposit Services, treasury Management and self-Directed Retirement Banking.
Who are Fortis Bank's main competitors?
Direct peers on record are First Western Financial, National Bank Holdings Corporation, Live Oak Bancorp, Independent Bank Group, Customers Bancorp, Provident Financial Services, TowneBank and Altabank / Glacier acquisition. Broad incumbents are Glacier Bancorp and BOK Financial.
Does Fortis Bank have an API?
No public API is recorded for Fortis Bank.