Craig bank manager accepts new position
August 28, 2018
CRAIG — The bank manager who resigned in the face of a global marketing campaign by her company against tobacco, coal, fracking, and Arctic drilling will continue her career in banking.
Stacy Razzano, former manager and vice president at Bank of the West Craig branch and a coal miner's daughter, has joined the team at Craig’s Bank of Colorado, according to Market Manager Chris Jones.
Her first day was Aug. 20.
"I am thrilled to be working with Stacy. She brings a tremendous amount of experience and knows our community," Jones said.
Razzano's new position is equivalent to the one she held for 27 years at the Bank of the West — a subsidiary of the French company, BNP Paribas.
In the days before Bank of the West's social media declaration against coal and fossil fuels, Razzano said she was told a new marketing campaign was set to launch, but it was not until the social media post went public that she became aware of the content of the messaging.
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"I kept reporting upwards on how it was going to impact the branch. I think that Bank of the West is so large, it was taking time to get to the people that it needed to get to," she said.
She declined to speak negatively about her previous employer, but acknowledged she believes her resignation and the community’s reaction came as a surprise.
"My personal opinion is that I don't believe they realized the impact it was going to have on certain communities. It started here and moved it's way up to the Wyoming branches,” Razzano said.
After learning of Razzano's decision to resign, the bank asked if there was anything it could do to retain her, but Razzano said she didn't think that was possible "given the stance that they had taken."
Razzano went public with her decision in a letter to the editor.
Soon after, she said she had "options." Her decision to join Bank of Colorado was based on its support of local communities, such as recent support provided to the Moffat County Fair.
"It's family owned, but there are still several branches for the convenience of the customers," she said.
Before accepting her new position at the Bank of Colorado, Razzano was able to meet with the leadership team, including Bank of Colorado President Shawn Osthoff, grandson of the founders and chairman of parent company Pinnacle Bancorp Sid Dinsdale, and Pinnacle Bancorp President Mark Hesser.
"We do not have a policy on climate change," Osthoff said, nor does the bank have a policy of fossil fuel divestment.
Jones added, "We are focused on the communities we serve, and we focus on supporting the businesses in our community, and mining is an important part of our local economy."
A banner on the front of the bank reads, "We support coal miners in Craig," reflecting the corporate position.
As for Razzano, she is grateful to family and community support during a difficult time in her career.
"I think that change can be positive," she said. "I firmly believe everything happens for a reason, and right now, I am just looking forward to continuing my career here at the Bank of Colorado."
Contact Sasha Nelson at 970-875-1794 or snelson@CraigDailyPress.com.