Failure Comes to Fourteenth Ranked Bank

Premier Bank of Denver, Colorado, was closed on Friday by the Colorado Division of Banking, The two branch bank was acquired by United Fidelity Bank of Evansville, Indiana, to assume all of the deposits of Premier Bank. As of March 31, 2015, Premier Bank had approximately $31.7 million in total assets and $29.6 million in total deposits. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $4.4 million.