Citizens Community Bank sues over unpaid promissory note

Kelly Holleran Jan. 12, 2010, 8:36am

A bank claims three people owe it more than $130,000 after they failed to pay off a promissory note.

Citizens Community Bank claims it loaned $387,000 to defendants Jim R. Coughlin and Gregg S. Blomenkamp on June 10, 2005.

Defendant Annajean Coughlin agreed to guarantee the loan, the complaint says.

However, the defendants failed to pay the loan off by the time it reached its maturity on June 10, according to the complaint filed Jan. 5 in St. Clair County Circuit Court. As a result, they owe the bank $125,653.84 in principal, plus interest of $2,148.60 and late payments of $2,785.17, the suit states.

In addition to the money it says it is owed, Citizens Community Bank is seeking attorney's fees, costs and other relief the court deems just.

Myron A. Hanna of Hanna and Volmert in Belleville will be representing it.

St. Clair County Circuit Court case number: 10-L-2.

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