-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 DaNX1/sftxNEZzjgtpYje4ugODt9AfHG0jvPZLQ6Fvx1YbBsFsqsqwrRls/a8Igg
 t7dTqv+BZiDLvY8za6XokA==

<SEC-DOCUMENT>0000899078-05-000132.txt : 20050215
<SEC-HEADER>0000899078-05-000132.hdr.sgml : 20050215
<ACCEPTANCE-DATETIME>20050215112154
ACCESSION NUMBER:		0000899078-05-000132
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050211
FILED AS OF DATE:		20050215
DATE AS OF CHANGE:		20050215

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:			KLOOS DAVID W
		CENTRAL INDEX KEY:			0001191634

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21231
		FILM NUMBER:		05615412

	BUSINESS ADDRESS:	
		STREET 1:		700 17TH STREET
		CITY:			DENVER
		STATE:			CO
		ZIP:			80222
		BUSINESS PHONE:		303 595 9898
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>feb2005-form4_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-02-11</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001191634</rptOwnerCik>
            <rptOwnerName>KLOOS DAVID W</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>700 SEVENTEENTH STREET, SUITE 2100</rptOwnerStreet1>
            <rptOwnerStreet2></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>Sr. Vice President &amp; CFO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Employee Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>12.839</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-02-11</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>20000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2015-02-11</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>20000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>20000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The option vests in five equal annual installments beginning February 11, 2006.</footnote>
        <footnote id="F2">N/A</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ David W. Kloos</signatureName>
        <signatureDate>2005-02-15</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----