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NORTHERN BANK v. F.D.I.C.

No. S-90-407.

496 N.W.2d 459 (1993)

242 Neb. 591

NORTHERN BANK, a Nebraska Banking Corporation, Appellee, v. FEDERAL DEPOSIT INSURANCE CORPORATION, Receiver, Appellant.

Supreme Court of Nebraska.

March 5, 1993.

Attorney(s) appearing for the Case

Chip Lowe of Adams, Howe & Zoss, P.C., Des Moines, IA, and Ann S. DuRoss, Joan E. Smiley, and E. Whitney Drake, Washington, DC, for receiver, appellant.

Steven J. Woolley of Polack, Woolley & Forrest, P.C., Omaha, for appellee.

HASTINGS, C.J., and BOSLAUGH, WHITE, CAPORALE, SHANAHAN, FAHRNBRUCH, and LANPHIER, JJ.

CAPORALE, Justice.

I. STATEMENT OF CASE

The plaintiff-appellee, Northern Bank, a Nebraska banking corporation, participated in loans which were arranged by another Nebraska banking corporation, Fairfield State Bank, for the latter's customer, the borrower Fairfield Nonstock Co-op Fertilizer Association. The defendant-appellant, Federal Deposit Insurance Corporation (FDIC), an instrumentality of the government of the United States, subsequently became the...

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