Feb 3, 2011 7:18 AM by Bea Karnes

Punishment for failed Colorado bank

GREELEY, Colo.-Two former lending officers for the failed New Frontier Bank in Greeley have been sanctioned.

The Federal Deposit Insurance Corp. says Jamie Weeks and John Kundert are banned from working in banking. The Greeley Tribune reports both were commercial loan officers.

Neither admitted or denied the FDIC's claims that they breached their fiduciary duty or committed unsound banking practices. The Tribune reports that a criminal investigation is continuing.

The FDIC had previously disclosed that former bank President Larry Seastrom, former chief lending officer Greg Bell, and former board members Robert Brunner, Timothy Thissen, John Kammeier and Jack Renfroe also were barred from banking.

New Frontier Bank was shut down in April 2009.


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