Inside DC| More...
 

FDIC Stood Idly As Greeley's New Frontier Bank Took On Bad Assets

digg Share this on Facebook Huffpost - FDIC Stood Idly As Greeley's New Frontier Bank Took On Bad Assets stumble reddit del.ico.us RSS


First Posted: 09-23-09 08:58 AM   |   Updated: 09-23-09 09:40 AM

I Like ItI Don’t Like It
Read More: Bank Bailout, Banking Crisis, Colorado, Fdic, Financial Crisis, Greeley Colorado, New Frontier Bank, Denver News
Money

Bloomberg:

Sept. 23 (Bloomberg) -- New Frontier Bank, the largest lender in northern Colorado, had a lot to be proud of in early 2007. Assets had grown by 66 percent the previous year and profits by 53 percent. American Banker rated the bank the ninth- most efficient in the country.

Regulators knew the reality was different. In mid-2007, the Federal Deposit Insurance Corp., citing weak management, a rise in soured loans and an increased reliance on volatile funding, told executives to slow growth and add capital, according to board minutes of the privately held bank obtained under the Freedom of Information Act.

Read the whole story: Bloomberg

Sept. 23 (Bloomberg) -- New Frontier Bank, the largest lender in northern Colorado, had a lot to be proud of in early 2007. Assets had grown by 66 percent the previous year and profits by 53 percent.
Sept. 23 (Bloomberg) -- New Frontier Bank, the largest lender in northern Colorado, had a lot to be proud of in early 2007. Assets had grown by 66 percent the previous year and profits by 53 percent.
Related News On Huffington Post:
 

Read more from Huffington Post bloggers:
Garrett Johnson

Garrett Johnson: Just How Corrupt are the Bank Regulators?

Can we really expect the FDIC to effectively regulate the banks that have loaned them money so that they can do their job?
Marshall Auerback

Marshall Auerback: FDIC shortfall symptom of much bigger problem

So it has come to this. According to the NY Times, regulators are "seriously considering a plan to have the nation's healthy banks lend billions...

Loading...
 
Filed by Ethan Axelrod  |  Report Corrections
 
Comments
0
Pending Comments
0
iPhone App Promo

Want to reply to a comment? Hint: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to

View Comments:
Comments are closed for this entry

 You must be logged in to comment. Log in  or connect with 

Connect