First National Bank v. Insurance Co. of North America

HASTINGS, Senior Circuit Judge.

Plaintiff First National Bank of Decatur, Illinois (Decatur) brought this diversity action in the district court against defendant Insurance Company of North America (INA) seeking recovery under a Bankers’ Blanket Bond issued by defendant. Decatur asserts that a loss it suffered as the result of an alleged check kiting scheme is covered by the bond issued by INA. On the basis of evidence presented during a bench trial and an agreed stipulation of facts, written briefs and oral argument, the trial court entered judgment adverse to INA in .the amount of…