New Frontier Bank Auction Yields Fraction Of Former Value
Author: The Huffington Post News Editors
DENVER — An auction last month of loans from the failed New Frontier Bank generated $157 million on a portfolio once valued at more than $500 million, according to government records. The federal government salvaged 27 cents on the dollar in the auction, underscoring the poor quality of agriculture loans that were stranded when the Greeley bank failed in April, The Denver Post reported Tuesday. One package of notes valued at $5 million sold for $122,778 – or 2 percent of its values, the newspaper reported
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New Frontier Bank Auction Yields Fraction Of Former Value
Tags: colorado, greeley, had-spoken, join-with, loans, the-audience, there-are, Wall
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