First Collinsville Bank claims borrowers defaulted on loan

By Michael Abella | Sep 27, 2016

EDWARDSVILLE — First Collinsville Bank is suing after two borrowers allegedly defaulted on their loan.

First Collinsville Bank filed a complaint on Sept. 12, in the Madison County Circuit Court against Michael W. Swindell and Matthew Scott Biason, alleging that they failed to comply with the terms of the promissory note.

According to the complaint, the plaintiff alleges that on Dec. 10, 2004, it made a loan to defendants in the original sum of $100,000. As of Aug. 30, 2016, the balance amount of $67,295.06 remains unpaid.

The plaintiff alleges Swindell and Biason defaulted by failing to make payment under the terms of the note.

The plaintiff requests a trial by jury and seeks judgment against defendants for damages in the amount of $67,295.06, plus post-judgment interest, attorney's fees, costs of suit, and such other relief as the court deems just and proper.

First Collinsville Bank is represented by Kevin J. Stein of Kevin J. Stein Attorney at Law in O'Fallon.

Madison County Circuit Court case number 16-L-1282

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