PEOPLES NAT. BANK, N.A. v. BANTERRA BANK

No. 12-3079.

719 F.3d 608 (2013)

PEOPLES NATIONAL BANK, N.A., Plaintiff-Appellant, v. BANTERRA BANK, Cort Jones and Lisa Jones, Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided May 20, 2013.


Attorney(s) appearing for the Case

Terrell L. Sharp (argued), and John T. Hundley , Sharp Law Firm, Mount Vernon, IL, for Plaintiff-Appellant.

James L. Van Winkle (argued), Attorney, Van Winkle & Van Winkle, McLeansboro, IL, Michael E. Reed , Law Office of Michael E. Reed, Centralia, IL, Micheal L. Weissman , Attorney, Levin & Ginsburg, Chicago, IL, for Defendants-Appellees.

Steven M. Wallace , Attorney, Kunin Law Offices, Collinsville, IL, for Amicus Curiae.

Before KANNE and WILLIAMS, Circuit Judges, and ZAGEL, District Judge.


ZAGEL, District Judge.

Two banks disagree over creditor priority in connection with a mortgage. Cort and Lisa Jones, the debtors underlying this dispute ("Debtors"), unsurprisingly take no position in this matter.

I. BACKGROUND

On November 1, 2004 Peoples National Bank ("Peoples") extended Debtors a loan for $214,044.26 ("Peoples Loan 1"). This loan was secured by certain real property in a mortgage dated the same day and recorded on November 5,...

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