Bank seeks to recover unpaid promissory note

By Kelly Holleran | Nov 2, 2009

A bank has filed suit against the St. Clair County man who it says owes it more than $80,000 after he failed to continue making payments on his promissory note.

First Collinsville Bank claims Matthew S. Jennings executed a promissory note on July 14, 2006, for $106,787.63.

According to the complaint filed Oct. 27 in St. Clair County Circuit Court, Jennings still owes $80,712.34 as of May 28, plus interest at a rate of nine percent per annum.

Although First Collinsville Bank has demanded payment from Jennings, he still has not reimbursed it, the suit states.

In addition to the money it says it is due, First Collinsville Bank is seeking attorneys' fees, costs and other relief it deems just.

Brad Pierce of Kramer and Frank in St. Louis will be representing it.

St. Clair County Circuit Court case number: 09-L-577.

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