State regulators have closed Premier Bank, and the deposits of its two branches, in Denver and Aurora, have been acquired by United Fidelity Bank.
According to the Denver Post (http://tinyurl.com/nn88mdw), Premier Bank is the sixth FDIC-insured institution to fail in the nation this year, and the first in Colorado. The last FDIC-insured institution closed in the state was Community Banks of Colorado in Greenwood Village in 2011.
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The bank has been in trouble since at least 2007, when Small Business Administration loans accounted for 90 percent of its loan portfolio and it was hit with a cease and desist order by state and federal regulators.
Officials say depositors of Premier Bank can access their money by writing checks or using ATM or debit cards.
Information from: The Denver Post, http://www.denverpost.com