sa国际传媒官网网页入口

Fist bumps and head bumps 鈥� that pretty much sums up the atmosphere at the groundbreaking ceremony for Capra Bank鈥檚 new sa国际传媒官网网页入口 location last week.

Joining dozens of employees, community members and city officials in attendance on Thursday were two miniature goats 鈥� Zero and Missy 鈥� from Mandy鈥檚 Farm. Standing in as the bank鈥檚 mascot, they alternated between soaking up attention from curious children and butting heads.

For the kids, the goats were the main event. For the adults, it was a series of speeches and dirt-and-shovel photo opportunities marking the beginning of Capra Bank鈥檚 presence in the Journal Center and an expanded presence in the Duke City.

鈥淎bout 20 months ago, a team of 15 New Mexicans set out to deliver an elevated banking experience to our community,鈥� President Andres Garcia said on Thursday. 鈥淭oday鈥檚 groundbreaking marks a significant milestone in our journey. Capra Bank is committed to stimulating economic growth in New Mexico, with our focus and commitment to operating a local money cycle.鈥�

Capra Bank, which also has branches in Lubbock, Texas, and Dubuque, Iowa, first entered the sa国际传媒官网网页入口 market with the opening of a location Downtown in July 2024.

The bank announced plans to relocate to the Journal Center by building a new sa国际传媒官网网页入口 headquarters on an empty lot next door to Bass Pro Shops late last year, and opened a temporary facility on site in January.

The new location will stand two stories tall, span 12,000 square feet and feature a drive-thru, ATM, night drop box, community spaces for client events and entertainment, and a 3,000-square-foot deck showcasing a view of the Sandia Mountains and Balloon Fiesta Park.

鈥淰ery excited about that,鈥� Garcia said, adding the location will also feature New Mexico touches like the iconic kiva fireplace.

Garcia, a New Mexican who鈥檚 worked in banking for 20 years, said he and other New Mexicans helped bring Capra to New Mexico after experiencing 鈥渢he negative side of banking in our respective communities鈥� and hoping to establish a bank built on the ideology of keeping local money local.

鈥淲hether that鈥檚 the lending side, whether that鈥檚 what we do with marketing or donations 鈥� anything that really moves the needle for our community,鈥� Garcia said.

Leading the bank is CEO Tut Fuller, a fourth-generation banker whose father founded New Mexico Bank & Trust, now UMB Bank. Fuller created Capra Bank in 2022 after his family 鈥� which held stock in Heartland Financial, the former parent company of UMB Bank 鈥� took what they had and sold it. Fuller and his brother used their share of the money to purchase Peoples Savings Bank, rebranded to Capra Bank.

After more than a year of doing business Downtown, bank leaders decided to move Capra鈥檚 sa国际传媒官网网页入口 location to the Journal Center, fueled by growth and drawn by better opportunities for parking and accessibility.

While the bank鈥檚 groundbreaking celebration was held last week, Garcia said the project is awaiting final construction approvals from the city and will likely officially begin construction sometime in May. Garcia declined to share the development cost, adding the final budget is still being finalized.

Project completion is expected in 2028, but Garcia said he鈥檚 hoping the location is built in time for a grand opening around next year鈥檚 International Balloon Fiesta.

No new permanent jobs will be created as a direct result of this expansion, but it is what Garcia described as an essential step to giving the bank 鈥渟pace to grow鈥� and onboard more clients and staff in the future, he said. Since July 2024, Capra Bank鈥檚 sa国际传媒官网网页入口 branch has onboarded 700 clients and, today, manages roughly $320 million in deposits across 1,000 accounts.

City Economic Development Director Max Gruner hailed the bank鈥檚 expansion at Thursday鈥檚 groundbreaking event, calling it 鈥渕ore than a celebration of a new 12,000-square-foot beautiful facility.鈥�

鈥淚t鈥檚 a celebration of a theory of action that when local deposits are deployed locally, that can move the needle. And it moves the needle because it roots opportunity here,鈥� Gruner said. 鈥淐apital is deeply personal. Capital is deeply local.鈥�

Garcia agreed, saying that Capra was built for ultra-local communities like sa国际传媒官网网页入口.

鈥淭his bank was purpose-built,鈥� Garcia said. 鈥淭his bank isn鈥檛 for every market 鈥� it鈥檚 for communities like sa国际传媒官网网页入口, where there鈥檚 a high population of people (who) grew up here, are from here and don鈥檛 want to leave.鈥�

Kylie Garcia covers retail and real estate for the Journal. You can reach her at kgarcia@abqjournal.com.