AMARILLO, TEXAS -- The office of the comptroller recently closed several failing banks in Georgia, Kansas, and Colorado. One of the banks closed was the Colorado National Bank, based out of Colorado Springs, CO.

Herring Bank, based out of Amarillo, let the FDIC or federal deposit insurance corporation, know that they we're interested in failing financial institutions within a 400 mile radius of Amarillo.

After the comptroller closed the bank it was then passed on to the FDIC, which then awarded the bid for assets to Herring Bank.

Colorado National Bank had 3 branches which officially opened today as Herring Bank branches. It's a move that officials with Herring Bank are excited about.

"This helps us validate our business model, it helps us stay consistent which gives our customers more predictable access to capitol and a better place to deposit their money," said Campbell Burgess, President/CEO, Herring Bank.

Herring Bank recently opened brand new branches in Seymour, OK and Azle TX, near Fort Worth.