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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 VSH6eGoGQKBNZzTCqZFhPNYDxO2N/H9vpkCO4lilfBnkTrjYnSf9dMx4HHeGFVUI
 0MQrlDd1kvCRmD/8hF7jUA==

<SEC-DOCUMENT>0000899078-04-000109.txt : 20040206
<SEC-HEADER>0000899078-04-000109.hdr.sgml : 20040206
<ACCEPTANCE-DATETIME>20040206113605
ACCESSION NUMBER:		0000899078-04-000109
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031231
FILED AS OF DATE:		20040206

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MATRIX BANCORP INC
		CENTRAL INDEX KEY:			0000944725
		STANDARD INDUSTRIAL CLASSIFICATION:	MORTGAGE BANKERS & LOAN CORRESPONDENTS [6162]
		IRS NUMBER:				841233716
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			1231

	MAIL ADDRESS:	
		STREET 1:		700 17TH STREET
		STREET 2:		SUITE 2100
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MATRIX CAPITAL CORP /CO/
		DATE OF NAME CHANGE:	19960711

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MCCONNELL T ALLEN
		CENTRAL INDEX KEY:			0001191632

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21231
		FILM NUMBER:		04572328

	BUSINESS ADDRESS:	
		STREET 1:		700 17TH STREET
		CITY:			DENVER
		STATE:			CO
		ZIP:			80222
		BUSINESS PHONE:		303 595 9898
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>dec2003-form5mcconnell_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2003-12-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0000944725</issuerCik>
        <issuerName>MATRIX BANCORP INC</issuerName>
        <issuerTradingSymbol>MTXC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001191632</rptOwnerCik>
            <rptOwnerName>MCCONNELL T ALLEN</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>700 17TH STREET</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 2100</rptOwnerStreet2>
            <rptOwnerCity>DENVER</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80202</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Vice Pres &amp; General Counsel</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>COMMON STOCK</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>9580</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Share increase from the previously filed Form 5 constitutes shares aquired on 12/31/03 pursuant to the issuer's Rule 16b-3 qualified employee stock purchase plan.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ T. Allen McConnell</signatureName>
        <signatureDate>2004-02-05</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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