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CAPITOL SAV. & LOAN v. FIRST FINANCIAL SAV.

No. 84-299.

364 N.W.2d 267 (1984)

CAPITOL SAVINGS & LOAN ASSOCIATION, an Iowa Corporation, f/k/a Fort Madison Savings & Loan Association, Plaintiff-Appellant, v. FIRST FINANCIAL SAVINGS & LOAN ASSOCIATION, an Iowa Corporation, f/k/a Marion County Savings & Loan Association, Defendant-Appellee.

Court of Appeals of Iowa.

December 26, 1984.

Attorney(s) appearing for the Case

Thomas T. Skewes and Michael M. Phelan, Fort Madison, for plaintiff-appellant.

William J. Lillis and Eugene E. Olson of Connolly, O'Malley, Lillis, Hansen & Olson, Des Moines, for defendant-appellees.

Heard by SNELL, P.J., and SCHLEGEL, and HAYDEN, JJ.

HAYDEN, Judge.

Plaintiff appeals from a judgment for defendant in an action seeking damages for breach of a fiduciary duty and breach of a loan participation agreement.

On July 1, 1970, a loan was made by defendant Marion County Savings and Loan Association, now known as First Financial Savings and Loan Association, to Terrace Inn, Inc., which operated a motel and restaurant in Newton, Iowa. Additional loans were made to Terrace Inn between 1970 and 1975 which...

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