First National Bank of Commerce v. Hibernia National Bank in New Orleans

KLEES, Judge.

This matter involves a dispute between Hibernia National Bank in New Orleans (hereinafter “Hibernia”) and First National Bank of Commerce, New Orleans, Louisiana (hereinafter “FNBC”) over a certificate of deposit (the “CD”) issued by Hibernia to Ciro P. Callico, Sr. or Florence D. Callico (collectively, the “Callicos”). Both Hibernia and FNBC were creditors of the Callicos by virtue of loans extended by the banks to them and both Hibernia and FNBC assert that each has a superior security right to the proceeds of the CD. Judgment was rendered in favor of FNBC and against Hibernia…