First National Bank of Philip v. Temple

STEELE, Circuit Judge.

[¶ 1.] Doug Temple appeals from a judgment ordering that First National Bank of Philip held a perfected security interest in and to certain livestock as a result of loan instruments executed by Merle Temple. We affirm.

FACTS

[¶ 2.] Beginning in 1990, Merle Temple (Merle) obtained loans from First National Bank in Philip, South Dakota (FNB). To secure the loans, he pledged as collateral cattle bearing one or more brands owned by him. FNB perfected a security interest in all the cattle so branded, their products and proceeds, after first determining that no other security…