Southwest Washington Production Credit Ass'n v. Seattle-First National Bank

Seattle-First National Bank (Sea-First) appeals from a declaratory judgment in favor of Southwest Washington Production Credit Association (PCA) holding that the PCA had a security interest in certain farm products in the hands of a purchaser and that that security interest had priority over Sea-First's interest in the same collateral. We reverse.

Symons Frozen Foods, Inc., was a food processor financed by Sea-First Bank. Sea-First held a valid security interest in several of Symons' assets including inventory. Part of the inventory consisted of corn, peas, and berries purchased by Symons from…