A Freeburg bank is suing a Perry County man who allegedly defaulted on several loans and owes nearly $60,000.
Citizens Community Bank filed a lawsuit Nov. 9 against Ryan Neal Sommer in St. Clair County Circuit Court.
According to the complaint, Sommer borrowed a total of $57,750 on four different loans from May 2002 through December 2011. Sommer allegedly signed an extension agreement on all four debts in July of this year, promising to pay all the principal and unpaid interest by September 30.
However, the bank claims Sommer failed to make the full payments and still owes almost $60,000 in principal and accrued interest. Citizens Community Bank asks for a judgement of the entire outstanding balance. The bank is also asking to be allowed to foreclose on the collateral Sommer used to acquire the loans, with the proceeds helping to repay the debt.
Citizens Community Bank is represented by attorney Myron A. Hanna of Belleville.
St. Clair County Circuit Court Case No. 12-L-607