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KANSAS BANKERS SUR. CO. v. FARMERS STATE BANK, YALE

No. 4:04-CV-10230.

408 F.Supp.2d 751 (2005)

KANSAS BANKERS SURETY COMPANY, A Kansas Corporation, Plaintiff v. FARMERS STATE BANK, YALE, IA, An Iowa Banking Corporation, Defendant.

United States District Court, S.D. Iowa, Central Division.

November 21, 2005.

Attorney(s) appearing for the Case

H. Raymond Terpstra, II, Terpstra & Epping, Cedar Rapids, IA, Matt P. Patterson, Randy R. Debenham, Stanley R. Parker, Parker & Hay LLP, Topeka, KS, for Plaintiff.

Steven L. Serek, Ahlers Cooney Dorweiler Haynie Smith & Allbee, Des Moines, IA, for Defendant.

RULING ON PLAINTIFF'S MOTION FOR SUMMARY JUDGMENT AND DEFENDANT'S CROSS-MOTION FOR PARTIAL SUMMARY JUDGMENT

WALTERS, Chief United States Magistrate Judge.

KBS issued a Financial Institution Crime Bond No. 6819IA to Farmers State Bank of Yale, Iowa (FSB). FSB's Vice President, Brian Barber, caused certain bad loans to be made (the Lancaster and Funk loans) and a guaranty entered into which resulted in significant losses to FSB. FSB contends the circumstances...

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