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COBIZ FINANCIAL INC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2018 10-Q, filed Jul 27, 2018. Its latest SEC filing is a SC 13G/A from Oct 10, 2018.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Provides business banking and fee-based financial services, including wealth management and insurance brokerage, to professionals, high-net-worth individuals, and small to mid-sized businesses.

How Did They Make Money?

FY2012 revenue

Who Were Their Customers?

The Bank serves customers through Colorado Business Bank and Arizona Business Bank, with local decision-making at each location; affiliated businesses provide its fee-based services.

Did Revenues Turn Into Profits?

Yes. It kept 23 cents of every revenue dollar as net income in FY2012 and turned 28 cents into free cash flow.

Net income, FY2012
23% of revenue
▼ −27% vs FY2011 ($33.5M, 30%)
Free cash flow, FY2012
28% of revenue
▼ −20% vs FY2011 ($36.9M, 33%)

How Were They Changing?

Since the FY2017 annual report
Latest quarter: Q2 FY2018, the three months to Jun 30, 2018
Revenue
▲ +11%
vs $35.4M in Q2 FY2017
Net income
▲ +20%
vs $9.5M in Q2 FY2017
  • Oct 1, 2018 BOK Financial completed its merger with CoBiz CoBiz merged into BOK Financial's wholly owned subsidiary; its common stock was removed from Nasdaq.

Shrank. Revenue fell 8% in 2 years, from $116M in FY2010 to $106.1M in FY2012, about 4% a year.

Investment banking exit The older report lists investment banking among fee-based services; the latest says the division ceased operations and reports it as discontinued.

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