Fifth Third Bank v. Peoples National Bank

OPINION

DARDEN, Judge.

STATEMENT OF THE CASE

Fifth Third Bank ("Fifth Third") appeals the trial court's judgment in proceedings supplemental in favor of People's National Bank ("PNB").

We reverse and remand with instructions.

ISSUE

Whether Fifth Third waived its right to enforce its security interest with respect to its indebted depositor's checking account and proceeds held therein.

FACTS 1

In 2005 or early 2006, Odle, McGuire & Shook ("OMS") 2 opened deposit account(s) with Fifth Third. OMS maintained the deposit account(s) at all times relevant for our purposes. It is undisputed that the deposit…