GREELEY, Colo.—Federal regulators are taking action against two more banks in northern Colorado.
Signature Bank of Windsor and Advantage Bank of Loveland say they’ve entered into agreements with the Federal Deposit Insurance Corp. Regular bank examinations revealed that the concentrations of the banks’ commercial real estate lending were too high.
Both banks believe they can correct the problems found by the FDIC and remain open.
Advantage CEO Tom Chinnock said the bank will be required to maintain capital at certain levels as well as reserves for loan losses.
Greeley’s New Frontier Bank in Greeley closed in April, about four months after the FDIC issued a cease-and-desist order against the bank for “unsafe” and “unsound” practices.
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Information from: Greeley Daily Tribune,
