Nebraska Depository Institution Guaranty Corp. v. Stastny

In December 1982, the Dwight Cooperative Credit Association (Association), facing insolvency, merged with the Farmer’s State Bank of Dwight, now known as the First State Bank of Dwight (Bank), the third-party codefendant and sole appellee involved in this appeal. To keep the Association operating during 1982, the Nebraska Depository Institution Guaranty Corporation (NDIGC) had deposited a total of $210,000 in a correspondent bank to the credit of the Association. The $210,000 was made available through two promissory notes signed by the third-party plaintiffs-appellants.

The appellants are 12…