Colorado Business Bankshares Acquires Insurance Agency

Colorado Business Bankshares, the parent company for Colorado Business Banks, has acquired Denver-based Milek Insurance Services Inc.

The agency, which will be renamed CoBiz Insurance Inc., provides commercial and personal property and casualty insurance brokerage as well as risk management consulting services to individuals and small and medium-sized businesses.

Milek shareholders received 44,763 shares of CoBiz stock as consideration for the transaction which will be accounted for as a pooling of interests.