GREELEY, Colo.—The former locations of New Frontier Bank in Greeley, Longmont and Windsor will reopen under a different name Monday to give customers a chance to start moving their money.
Regulators closed the bank at 6:30 p.m. Friday. It will reopen as Deposit Insurance National Bank for 30 days to give depositors time to transfer their accounts to other banks.
All regular deposit accounts are insured up to $250,000.
New Frontier was the second Colorado bank to fail this year. Colorado National Bank in Colorado Springs was shut down March 20.
Federal Deposit Insurance Corp. spokesman David Barr says banking activities such as direct deposit and ATM and debit card transactions can continue as usual during the 30-day transition period.
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