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Byline: Aldo Svaldi
Apr. 18--Lower interest rates caused a spike in loan demand at Wells Fargo Bank West, Colorado's largest bank, during the first quarter.
"We are in a lower rate environment, which is more conducive for borrowers," said Thomas Honig, president and chief executive of the bank, which is part of San Francisco-based Wells Fargo & Co.
Wells Fargo's Colorado loans rose 21 percent in the first three months of the year from the first quarter 2000, reaching $5 billion, Honig said. Home equity loans and small-business borrowing drove much of that increased demand, he said.
The bank's deposits in the state also rose 7 percent and …