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Smart_Money

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Smart_Money

Re: Newly2b post# 620629

Saturday, 04/11/2009 12:34:38 AM

Saturday, April 11, 2009 12:34:38 AM

Post# of 704019
Colorado bank biggest US bank failure of 2009

http://www.google.com/hostednews/afp/article/ALeqM5hEiHHCMevSVB6HlZH-I_abHVBcag

Unable to have a rival bank take charge of New Frontier's credits and deposits, the FDIC said it "created the Deposit Insurance National Bank of Greeley (DINB), which will remain open for approximately 30 days to allow depositors time to open accounts at other insured institutions."

New Frontier's failure will cost the FDIC around 670 million dollars.
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