1/23/25
First Southwest Bank (FSWB), a locally-owned, independent community bank and one of two Community Development Financial Institution (CDFI) banks in Colorado, is proud to announce the appointment of Brenna Morlan as its new CDFI/CRA Officer and Vice President.
Ms. Morlan, who joined FSWB in 2020, has held various roles including Branch Manager, Retail Operations Officer, and Community Outreach/Financial Analyst. In her new role, she will focus on advancing the bank's mission to transform the economic and social landscape of rural Colorado by fostering community engagement, strategic planning, and impactful investment initiatives.
“As a CDFI, First Southwest Bank can help other banks increase their impact and achieve their CRA compliance goals,” said Eric Guttormson, Senior Lending Officer at FSWB. “It can be as simple as creating a deposit relationship or generating loan participations with us. Brenna’s leadership in this area will undoubtedly enhance our ability to serve underserved communities and build stronger partnerships with other banks across the state.”
Eric Guttormson also highlighted Ms. Morlan’s success in 2024, raising over $13 million in IntraFi CDs and securing an ICS account, as a testament to her exceptional ability to drive results.
Ms. Morlan’s key responsibilities will include:
- Leading CDFI and CRA initiatives to meet community needs and regulatory expectations.
- Attracting capital through grants, partnerships, and CRA credit opportunities.
- Developing financial products aligned with community impact goals.
- Attract additional deposits and loan participation from banks seeking CRA credit.
Ms. Morlan expressed her enthusiasm for her new role, stating, “I am enthusiastic about starting this new role as a CDFI/CRA Officer. I really feel the role captures our mission at the bank and feel that I will be able to see first-hand how our efforts positively affect those in need. I'm passionate about helping others achieve their financial aspirations, and I believe this role will enable me to promote financial inclusion for those who need it most.”
With 28 years of experience in the financial industry, Ms. Morlan holds an MBA with honors from the University of Phoenix and actively contributes to her community through leadership roles in organizations such as the La Plata Economic Development Alliance, Bayfield Town Board, and Rotary International.
First Southwest Bank achieved CDFI Bank status in 2014, aligning with the principles of the Community Reinvestment Act (CRA) to address the credit needs of low-and-moderate-income communities. The bank continues to promote financial inclusion, foster economic growth, and invest in a thriving rural culture.
Banks looking for IntraFi or CRA opportunities are encouraged to reach out to Brenna via email.