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Drop beans into boiling water and simmer for 3 to 4 min.
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Remove from heat, drain and drop into bowl of iced water for 2 min. to stop cooking. Drain and set aside.
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Saute bacon in wide, deep skillet until just starting to brown.
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Add oil, shallots and garlic, and cook over medium heat for 3 to 5 min. until shallots are golden and bacon is almost crisp. Transfer to small bowl and set aside.
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In same skillet, melt 4 Tbsp. butter over medium heat, whisk in flour and cook for 2 min., stirring constantly and scraping up any bacon and onion bits.
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Slowly whisk in milk 1 cup at a time and cook, whisking constantly, until mixture thickens enough to coat the back of a spoon.
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Stir in cheese, red pepper and 3 tsp. Long’s Peak, and transfer mixture to casserole dish.
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Melt remaining 1 Tbsp. butter in small bowl and add remaining 1 tsp. Long’s Peak, bread crumbs and toasted onion.
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Sprinkle bread crumb mixture on top of casserole and bake at 350 for 30 to 40 min. until browned and bubbly. Serve hot.