Allied Sheet Metal Fabricators, Inc. v. Peoples National Bank

Allied Sheet Metal Fabricators, Inc. (“Allied”) appeals from a summary judgment in favor of defendant Peoples National Bank of Washington (“Peoples”) dismissing Allied’s $2,000,000 claim for damages allegedly caused by Peoples’ action in terminating its credit relationship with Allied.

The affidavits considered by the trial court disclosed these undisputed facts: In a series of loans commencing in 1968, Peoples financed Allied’s sheet metal fabricating plant under the terms of security agreements wherein Allied pledged accounts receivable and other collateral to secure the loans. Although at…