Colorado

A new group formed to buy failing banks plans to use its recent deal for tiny, well-capitalized Palisades National Bank as a springboard for further acquisitions.

State and federal regulators shut three banks late Friday — $538 million-asset Warren Bank in Michigan, $56.3 million-asset Jennings State Bank of Spring Grove, Minnesota and $39.5 million-asset Southern Colorado National Bank in Pueblo — bringing this year's failure total to 98.

State and federal regulators shut three banks late Friday — $538 million-asset Warren Bank in Michigan, $56.3 million-asset Jennings State Bank of Spring Grove, Minnesota and $39.5 million-asset Southern Colorado National Bank in Pueblo — bringing this year's failure total to 98.

Premier Members Federal Credit Union in Boulder, Colo., which has an agreement to absorb Colorado United Credit Union in Denver, said it expects to pursue more deals.

Guaranty Bancorp in Denver is going out of its way to distance itself from Guaranty Financial Group, the Austin company that has said its failure is imminent.

Recognizing the cash crunch many small businesses are facing, a Colorado banking company has come up with a plan to help them increase their visibility — and, it's hoped, their sales — without increasing their marketing budgets.

With the backing of its deep-pocketed parent, Mutual of Omaha Bank intends to continue buying troubled or failed banks, and within 10 years it could even "rival" its ...