Advantage Bank works to right fiscal ship, end fed’s scrutiny

LOVELAND — Advantage Bank’s chairman and acting chief executive, John Nigh, believes the troubled financial institution will get out from under federal scrutiny in the coming year as it continues to improve its capital levels.

The Loveland-based bank, with branches in Fort Collins and Greeley, has been under the Federal Deposit Insurance Corp.’s watchful eye since 2009 when the federal regulator of banks issued Advantage a cease-and-desist order to stop its risky banking practices.

At the time, the FDIC said Advantage Bank was operating with inadequate capital and an excessive level of adversely classified assets and delinquent loans, and was using inadequate…