Colorado state regulators on Friday closed the $31.7 million-asset Premier Bank in Denver.

The failed bank's operations, which include two branches, were sold to United Fidelity Bank in Evansville, Ind. The buyer agreed to assume all of Premier's $29.6 million deposits and will purchase essentially all of the bank's assets. The bank will reopen during normal business hours as United Fidelity Bank.

The failure, the sixth of 2015, is estimated to cost the Federal Deposit Insurance Corp. $4.4 million. Premier is the first Colorado institution to fail since Community Banks of Colorado in Greenwood Village in 2011.

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