First Bank v. State, Department of Regulatory Agencies, Division of Banking

Opinion by

Judge BRIGGS.

Petitioners, First Bank and certain former directors and shareholders (collectively the Bank), appeal the judgment of the district court affirming the order of the Colorado State Banking Board (Board). In its order, the Board denied the Bank’s request to rescind the Board’s earlier order for possession and liquidation of First Bank’s assets. The Bank contends the Board misapplied statutory procedures and violated the Bank’s right to due process. We affirm.

First Bank was a state commercial bank chartered under § 11-3-110, C.R.S. (1987 Repl.Vol. 4B). In April of 1989, the…