Bank failure backstory

Saturday I posted about New Frontier Bank in Colorado being taken over by the FDIC.  The backstory on the bank is that last year they had problems with their lending practices and had regulators demanding the bank clean up its books.  In December 2008, it was operating under a cease and desist order requiring New Frontier to raise capital, cut bad debt and fire its top official.  Early this month, a deal with a local private investment firm fell apart and that was it for New Frontier.

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