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PROGRESSIVE CAS. INS. CO. v. FIRST BANK

No. Civ. A. H-91-3002.

828 F.Supp. 473 (1993)

PROGRESSIVE CASUALTY INSURANCE COMPANY, Plaintiff, v. FIRST BANK, Defendant.

United States District Court, S.D. Texas, Houston Division.

August 27, 1993.

Attorney(s) appearing for the Case

Michael Keeley, Dallas, TX, for plaintiff.

Bruce D. Beach, Houston, TX, for defendant.

OPINION ON SUMMARY JUDGMENT

HUGHES, District Judge.

1. Introduction.

Progressive Casualty Insurance Company indemnified First Bank through a standard banker's blanket bond. The bank cannot recover on the bond for the acts of its president who caused a loss to the bank through personal failings and business neglect. An employee's acts of misfeasance, even of gross incompetence, are not acts of infidelity with the manifest intent to injure...

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