Colorado Grapples with High Rate of Bank Robberies Despite National Decline

In the shadow of the Rocky Mountains, Colorado’s banking industry faces a persistent challenge that stands in stark contrast to national trends. Despite a nationwide decrease in bank robberies over the past few years, Colorado continues to rank among the top states for these crimes, securing the third position in 2023 with 104 recorded incidents, trailing only behind California (192) and Illinois (116). “Colorado, unfortunately, has always been high in robbery,” explains Jenifer Waller, CEO and President of the Colorado Bankers Association. “We compete with California and a few other states for the number one position.” While the state saw a significant drop from the 191 robberies recorded in 2021, banking leaders report concerning signs of an uptick in recent months, renewing worries about this persistent issue in the Centennial State.

The reality of these statistics was starkly illustrated on September 24 when Aurora police responded to a BMO Bank branch after a man pulled a gun on a teller and demanded cash. The suspect, later identified as 41-year-old Matthew Procella, fled with approximately $1,000 before being apprehended three days later thanks to a license-plate reader alert. Though this incident involved a weapon, Waller notes that most bank robberies in the state are actually “note jobs” where no gun is displayed. “The majority of robberies in Colorado and nationwide are nonviolent robberies,” she explains. Despite this general pattern, these crimes still exact a heavy emotional toll on everyone involved. “Bank robbery isn’t a victimless crime,” Waller emphasizes. “Those involved—employees and customers alike—experience a certain amount of stress, even if it’s just a note job.” This psychological impact often lingers long after the incident itself has concluded.

What drives Colorado’s persistently high bank robbery rates remains something of a mystery, even to industry experts. Waller speculates that geographic factors may play a role: “I’ve often questioned if the easy access to highways and interstates doesn’t aid in bank robberies here.” The state’s extensive transportation network provides quick getaway routes that cross multiple jurisdictions, potentially complicating law enforcement efforts. Economic factors may also contribute, as historical patterns show increases during economic downturns. Whatever the cause, Colorado banks aren’t waiting for answers before taking action. Many institutions have implemented enhanced security measures, some of which were initially adopted during the pandemic but have since become permanent fixtures. These include controlled access systems where doors remain locked until customers are screened for entry, advanced surveillance technology, dye packs, and in some cases, armed security personnel.

Beyond traditional bank robberies, Colorado financial institutions are now battling an evolving landscape of criminal activity. “Check washing,” a seemingly outdated crime where thieves alter legitimate checks to change payee information or amounts, has made a surprising comeback. “It surprises me, but we’re seeing a rise in old-fashioned check washing,” Waller notes, adding that law enforcement has identified organized criminal networks behind this resurgence. Even more concerning is the emergence of “jugging” in Colorado—a dangerous trend where criminals observe customers making large withdrawals and then target them outside the bank or at their next destination. “Jugging is when an individual is robbed after taking a withdrawal or carrying cash,” Waller explains. “We’re reminding customers to stay aware of their surroundings and not leave bank bags in vehicles.” This crime represents a troubling expansion of risk beyond the controlled environment of the bank itself, potentially putting customers in danger even after completing their transactions safely inside.

The response to these challenges has been multi-faceted, involving close collaboration between financial institutions, law enforcement agencies, and community partners. Waller particularly credits the FBI and the Rocky Mountain Safe Streets Task Force for their strong partnership with banks across the state. “The FBI is extremely helpful,” she says. “The Task Force does a phenomenal job of identifying and convicting bank robbers.” This cooperation has historically led to impressive clearance rates, with approximately 80% of bank robberies solved within 24 months, though current figures weren’t immediately available due to the government shutdown affecting FBI operations. Banks are also increasingly focusing on customer education, particularly regarding situational awareness and safe cash-handling practices. For those who might find themselves present during a robbery, Waller’s advice is straightforward: “You just comply with the robber’s demands immediately. After the fact, write down everything you can remember without talking to anyone else so no one influences your memory. The most important thing is for a customer not to try to intervene.”

As Colorado’s financial institutions navigate this complex security landscape, they continue to prioritize adaptation and vigilance while maintaining their primary focus on customer experience. Advanced technology plays an increasingly important role, not just in preventing robberies but in apprehending suspects when crimes do occur—as demonstrated in the Aurora case where license plate reader technology proved crucial to the arrest. While the state may not currently top the national list for bank robberies, the combination of persistently high numbers and emerging criminal tactics demands ongoing attention and resources. Through it all, Waller emphasizes the industry’s unwavering commitment: “Customer and employee safety is our number one priority.” This balance—maintaining open, accessible financial services while protecting against a diverse and evolving array of threats—represents the core challenge facing Colorado’s banking sector as it works to reverse its position among the nation’s bank robbery hotspots.