UMB Bank sues Jerseyville concrete company over loan default

Andrea Dearden Apr. 29, 2011, 4:42am

A Jerseyville concrete company is being asked to pay more than $150,000 after allegedly defaulting on a loan.

UMB Bank N.A. filed the complaint March 31 in St. Clair County Circuit Court against W.C. Beiser Concrete Company Inc. William C. Beiser III, Kenneth E. Beemer and Nell E. Beemer are also listed as defendants.

UMB Bank says it loaned W.C. Beiser Concrete Company $200,000 in November 2009. The bank says Beiser and the Beemers signed a promissory note, agreeing to repay the principal plus interest.

UMB Bank contends WC Beiser defaulted on the loan by failing to make timely payments. The bank says the concrete company owed $150,151 as of March 29. The lender says the balance grows daily because of interest and fees.

UMB Bank is asking the company to pay $150,151 along with all interest, court costs and attorney fees.

Attorney Patrick T. McLaughlin of St. Louis is representing UMB Bank.

St. Clair County Circuit Court Case No. 11-L-165

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