Just in time for your holiday listening pleasure, two songs are making their way around the blogosphere, marking another year of falling home prices and an expanding commercial real estate bust. Cheers!
The failure of the $2 billion New Frontier Bank of Greeley April 10 has left farmers and dairy owners struggling to find agriculture loans to finance the impending growing season, The Greeley Tribune reports. “This is the time of year when farmers need to rely on a line of credit,” said Tony Miller, president of First FarmBank of Greeley.
Colorado banking regulators shut down the $2 billion New Frontier Bank of Greeley Friday night and federal officials stepped in to cover insured deposits after no buyer could be found, the Federal Deposit Insurance Corporation announced. It’s the largest bank failure in the nation so far this year and the second Colorado bank to go under following the failure last month of Colorado National Bank in Colorado Springs.
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