1. Home
  2. Browse Decisions
  3. N.W.2d
  4. 523 N.W.2d
  5. 523 N.W.2d 591 (1994)
 

REC. OF FIRST NAT. BANK IN HUMBOLDT

No. 93-392.

523 N.W.2d 591 (1994)

In the Matter of the RECEIVERSHIP OF the FIRST NATIONAL BANK IN HUMBOLDT, Humboldt, Iowa, A National Banking Association, and Federal Deposit Insurance Corporation, Receiver. FEDERAL DEPOSIT INSURANCE CORPORATION, Appellant, v. IOWA GROWTHLAND FINANCIAL CORP. and Joe Dodgen, Appellees.

Supreme Court of Iowa.

As Modified on Denial of Rehearing November 21, 1994.

Attorney(s) appearing for the Case

G. Mark Rice of Adams, Howe & Zoss, P.C., Des Moines, Ann Duross, Asst. Gen. Counsel, Richard J. Osterman, Jr., Sr. Counsel, and Edward J. O'Meara, Counsel to F.D.I.C., Washington, DC, for appellant FDIC.

Thomas D. Hanson, Barry A. Russell, and Lu Ann White of Hanson, Bjork & Russell, Des Moines, for appellees Iowa Growthland Financial Corp. and Joe Dodgen.

Considered by McGIVERIN, C.J., and CARTER, LAVORATO, NEUMAN, and ANDREASEN, JJ.

NEUMAN, Justice.

When the Federal Deposit Insurance Corporation (FDIC), acting as receiver of a failed bank in Humboldt, Iowa, sought a court order terminating the receivership, a controversy arose over a surprising development: a surplus of over $2 million in the receivership estate. The FDIC claimed entitlement to the excess as a "reasonable return" on the funds it advanced in the bailout. The bank's shareholders disputed the government agency's authority to collect...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases