Bank appeals lawsuit dismissal

Published 9:39 am Friday, March 23, 2012

LAKE MILLS — A Lake Mills bank has appealed to the Iowa Supreme Court the dismissal of its lawsuit against a customer for nonpayment of a $150,000 loan.

Attorney David Siegrist filed the appeal Wednesday on behalf of Manufacturers Bank & Trust.

A Winnebago County judge dismissed the bank’s lawsuit against 87-year-old Clemence Weber, of Austin last month. The judge said the bank’s former president breached a fiduciary relationship with the man and was aware of his growing dementia when the loan was made in 2007.

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The lawsuit sought repayment of the loan, at 16 percent interest, plus collection and attorney fees.