First Security Bank of New Mexico, N.A. v. Pan American Bank

BRISCOE, Circuit Judge.

First Security Bank (First Security) appeals the district court’s entry of summary judgment in favor of Pan American Bank (Pan American), and the court’s assessment of liability on three counterclaims. Pan American cross-appeals the district court’s calculation of damages. We reverse the entry of summary judgment in favor of Pan American and the judgments in favor of 1st State Investment Co. (1st State) and John P. McGovern Foundation (McGovern).

I

On August 3,1994, Beatrice Stonebanks, in the name of her business “Benjamin, Maxwell & Co. Corp.,” opened a business savings…