Benton State Bank v. Hartford Accident and Indemnity Company

This diversity appeal involves a suit brought on a bankers’ blanket bond issued by the defendant, Hartford Accident and Indemnity Company, to plaintiff, Benton State Bank. The district court granted Hartford’s motion for partial summary judgment, ruling that the coverage under Hartford’s bond was limited to an aggregate sum of $25,000.-00. We affirm.

Briefly the facts are that Benton State Bank was the victim of a fraudulent scheme whereby a real estate developer had obtained loans from the bank by the use of promissory notes and real estate mortgages bearing the names of fictitious persons or…