Shut down of the New Frontier Bank - 23rd bank in the nation; the second in Colorado

Regulators have shut down the New Frontier Bank in Greeley, making it the 23rd bank in the nation and the second in Colorado to fail this year.

The Federal Deposit Insurance Corp. was appointed receiver.

Regulators closed New Frontier at 6:30 p.m. Friday. The FDIC on Monday will reopen the bank, along with its branches in Longmont and Windsor, for 30 days to give depositors time to transfer their accounts to other banks. Regular deposit accounts are insured up to $250,000.
-- George Howard, far left, and other claims representatives talk to people in front of New Frontier Bank in Greeley on Saturday. (Travis A. Heuser/The Coloradoan)