FDIC liquidating New Frontier Bank

GREELEY – New Frontier Bank was taken into receivership by federal regulators Friday evening, becoming the 23rd U.S. bank to fail this year.

The Greeley-based bank, with a branch in Longmont, had been operating under a cease-and-desist order issued by the Federal Deposit Insurance Corp. since early December. A deal to inject at least $30 million in capital into the bank fell through a couple of weeks ago when a Boulder-based investment group headed by Gary Jacobs and Mark Wong backed out.

The FDIC was unable to find another bank to purchase New Frontier. Instead, the regulator set up the Deposit Insurance…