Bank Failure
New Frontier Bank
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Closed April 10, 2009 · Greeley, CO · FDIC Cert #34881.
- Closing date
- April 10, 2009
- Headquarters
- Greeley, CO
- FDIC Certificate
- 34881
- Total assets at closing
- $1.77B
- Total deposits at closing
- $1.50B
- Estimated loss to the insurance fund
- $913.4M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
Context
On April 10, 2009, regulators closed New Frontier Bank, headquartered in Greeley, CO. At closing, the institution held approximately $1.77B in assets and $1.50B in deposits. The FDIC record does not name an acquiring institution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $913.4M.
By assets at closing this is the 126th largest of the 3,526 bank failures in the FDIC record, and the 18th of 140 in 2009. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did New Frontier Bank fail?
New Frontier Bank was closed by regulators on April 10, 2009.
How big was New Frontier Bank when it failed?
New Frontier Bank had approximately $1.77B in total assets and $1.50B in deposits at the time of failure.
Other failures in 2009
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 2009 | First Federal Bank of California, a Federal Savings Bank | $6.14B |
| Dec 18, 2009 | Imperial Capital Bank | $4.05B |
| Dec 18, 2009 | Peoples First Community Bank | $1.80B |
| Dec 18, 2009 | New South Federal Savings Bank | $1.46B |
| Dec 18, 2009 | Independent Bankers' Bank | $585.5M |
| Dec 18, 2009 | Rockbridge Commercial Bank | $294.0M |
| Dec 18, 2009 | Citizens State Bank | $168.6M |
| Dec 11, 2009 | Solutionsbank | $511.1M |
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