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COMMERCIAL NATIONAL BANK v. FDIC

No. 3-84-0454.

131 Ill. App.3d 977 (1985)

476 N.E.2d 809

COMMERCIAL NATIONAL BANK OF PEORIA, Plaintiff-Appellee, v. FEDERAL DEPOSIT INSURANCE CORPORATION, Defendant-Appellant.

Appellate Court of Illinois — Third District.

Opinion filed April 3, 1985.

Attorney(s) appearing for the Case

Tim Swain, of Swain, Johnson & Gard, of Peoria, for appellant.

David J. Dubicki and Timothy J. Howard, both of Kavanagh, Scully, Sudow, White & Frederick, P.C., of Peoria, for appellee.

Judgment affirmed.

PRESIDING JUSTICE HEIPLE delivered the opinion of the court:

Commercial National Bank of Peoria (Commercial) recovered a judgment of $105,652.57 plus costs against the Federal Deposit Insurance Corporation (FDIC) based on loans fraudulently induced by Farmers State Bank of Lewistown (Farmers), for whom the FDIC is acting as receiver. The FDIC appeals and we affirm.

At all times relevant to the instant case, Commercial and Farmers...

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