Town & Country Bank v. E. & D. Bancshares, Inc.

The plaintiff, Town & Country Bank of Quincy (T&C), appeals a summary judgment entered in favor of defendants in a mortgage foreclosure action. The principal issue involved in this case is whether there are triable issues of fact concerning whether defendant Mention State Bank (MSB) acted within its powers in mortgaging its banking premises to T&C, and if so, whether there was adequate consideration for the mortgage. An additional issue is whether the circuit court abused its discretion in vacating a default judgment or not awarding attorney fees and costs to the party in whose favor the…