BestBank, Boulder, Colo., was closed by state regulators Thursday, the second bank to fail this year.

Colorado's banking board said BestBank's $23 million in capital was overwhelmed by $135 million of classified loans. "Substantial losses resulted from a concentration in subprime credit card receivables," according to a release from the state banking board. The bank's assets had grown tremendously, to $233 million at March 31 from $15.6 million at yearend 1994.

The Federal Deposit Insurance Corp. announced it will take bids for BestBank's insured deposits on Saturday and is aiming to reopen the bank Monday.

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