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WALSH v. FIRST STATE BANK OF PENNOCK

Nos. C5-87-339, C6-87-379.

409 N.W.2d 5 (1987)

Patrick J. WALSH, et al., Appellants, v. FIRST STATE BANK OF PENNOCK, Respondent. Charles HEIMARK, Jr., Appellant, v. NORWEST BANK MONTEVIDEO, Respondent.

Court of Appeals of Minnesota.

Review Granted September 23, 1987.

Attorney(s) appearing for the Case

Scott B. Lundquist, Austin & Roth, Minneapolis, Michael D. Miller, Edina, for appellants.

Donald M. Spilseth, Anderson, Burgett & Spilseth, Willmar, for respondent First State Bank of Pennock.

David Minge, Nelson, Oyen, Torvik, Minge & Gilbertson, Montevideo, for respondent Norwest Bank Montevideo.

Heard, considered and decided by POPOVICH, C.J., and PARKER and FORSBERG, JJ.

OPINION

POPOVICH, Chief Judge.

These appeals are from trial court summary judgments holding respondent state-chartered, federally-insured banks did not charge usurious interest rates on appellants' agricultural loans. Appellants Walsh and Heimark claim the trial court erred because (1) Minn.Stat. § 334.011 exclusively determines the maximum interest rate permitted to be charged on agricultural class loans,...

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