McCoy v. First Citizens Bank

¶1 In 1997, plaintiffs Michael and Diane McCoy (the McCoys) established a line of credit with the First Citizens Bank (the Bank) against which they periodically borrowed money for working capital associated with their cattle ranch. As of their last loan on January 21, 2000, the principal amount owed by the McCoys was $414,173.00. The Bank notified them that this amount was due on September 30,2000, and that the Bank would not issue any further loans to them. The McCoys failed to pay the loan on September 30, or on January 31, 2001, the extended due date. On August 29, 2002, the Bank filed a…