CHILDERSBURG BANCORP., INC. v. Peoples State Bank of Commerce

[EDITORS' NOTE: THIS PAGE CONTAINS HEADNOTES. HEADNOTES ARE NOT AN OFFICIAL PRODUCT OF THE COURT, THEREFORE THEY ARE NOT DISPLAYED.]

Childersburg Bancorporation, Inc. ("CBI"), appeals from a summary judgment in favor of Peoples State Bank of Commerce ("Peoples") on CBI's counter-claim alleging the breach of a settlement agreement. We reverse the judgment in favor of Peoples and render a judgment in favor of CBI.

In the companion case of Childersburg Bancorporation, Inc.v. Alabama Department of Environmental Management,893 So.2d 1142 (Ala. 2004), Peoples filed a complaint for interpleader,…