Bank seeks repayment of unpaid loans worth nearly $500,000

A bank has filed suit against the Edwardsville and East St. Louis men who it claims failed to repay two loans with a combined worth of nearly $500,000.

First Bank claims it lent defendants Beau T. Hayes and James A. Hayes Sr. $220,000 on Feb. 3, 2006. According to the complaint filed Jan. 28 in St. Clair County Circuit Court, the bank also lent the Beau T. Hayes $266,400 on April 4, 2007.

Since then, however, the defendants defaulted on the loans, the suit states.

"After allowing all just credits and set-offs, defendants are justly indebted to plaintiff pursuant to note 1 in the amount of $232,010.50," the complaint says. ""After allowing all just credits and set-offs, defendant is justly indebted to plaintiff pursuant to note 2 in the amount of $354,781.39."

In addition to the money it claims it is owed, the bank is seeking costs, attorneys' fees and other relief the court deems just.

It will be represented by Patrick J. Boyle of Gunn and Gunn in St. Louis.

St. Clair County Circuit Court case number: 15-L-48.