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GREELEY — Auctions of the assets of the failed New Frontier Bank have raised just more than $441,000.
The Federal Deposit Insurance Corp. ordered the auctions after closing the Greeley-based bank in April.
The Greeley Tribune reported Sunday that items from the bank’s three branches were auctioned, including a bathroom vanity and a 2007 Cadillac Escalade. The Escalade sold for $34,000, and one bidder was able to get a 2003 Bentley Arnage for $50,000. The British luxury car usually sells for about $200,000.
The bank closed because loan defaults left it with shrinking capital to cover potential losses.
