Image 1 of 1

WSJ_New-Frontier0060-6-8-9.JPG

Portraits of bank founder and former CEO Larry Seastrom in his Greeley, Colorado home...___..Photographs of Karen Healey's small livestock operation outside of Eaton, Colorado.  Healey received one of many agriculture loans made by New Frontier Bank who now faces the FDIC's disposition of bank assets following their auction in August.  For many loanholders, this means that they must find another institution to pick up the loan or have their collateral liquidated at the hands of the loan purchaser.._____..Scenes of Weld County, an agricultural tract of land on the northern plains of Colorado.  .._____...New Frontier Bank. People and places impacted by the New Frontier Bank being placed into receivership by the State of Colorado. The Greeley, Colo. bank was forced from business after making a series of bad loans. Many eastern Colorado farms and business were impacted by the closing of the bank and are unable to transfer their loans to other institutions. The fallout threatens commercial institutions that have historically relied on the bank for short-term credit.
twitterlinkedinfacebook