Madison - St. Clair Record

Monday, October 21, 2019

First Bank seeks repayment of loan

By The Madison County Record | Jan 12, 2015


A bank alleges an East St. Louis man has failed to repay it more than $150,000.

First Bank filed a lawsuit Dec. 19, 2014, in St. Clair County Circuit Court against L.V. Thomas, Jim Hayes Properties and James A. Hayes Sr.

In its complaint, First Bank alleges it lent the defendants $150,000 on Aug. 1, 2001. It executed a second promissory note for $115,097.02 on Nov. 7, 2011, the suit states.

Since then, the defendants have failed to completely repay the loans, according to the complaint.

"After allowing all just credits and set-offs, corporation is justly indebted to plaintiff pursuant to note 1 in the amount of $57,265.46," the suit states. "After allowing all just credits and set-offs, corporation is justly indebted to plaintiff pursuant to note 2 in the amount of $79,183.35."

In its complaint, the bank seeks the money it alleges the defendants owe it, plus interest, costs, attorney fees, court costs and other relief the court deems just.

Attorney Patrick J. Boyle, of Gunn and Gunn in St. Louis, will represent First Bank.

St. Clair County Circuit Court case number: 14-L-809.

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