Stockman Bank of Montana v. Agsco, Inc.

VANDE WALLE, Chief Justice.

[¶ 1] Stockman Bank of Montana (“Bank”) appealed a judgment awarding interest at a rate of 1.5 percent on money it received in repayment from AGSCO, Inc. (“AGSCO”). We reverse and remand for further proceedings in accordance with this opinion.

I

[¶ 2] The Bank had deposited proceeds from the sale of a farmer’s crop with the district court, which was to determine the priority of several agricultural suppliers’ claims to the proceeds. In January 2006, a judgment against the Bank in favor of AGSCO was entered in the amount of $287,406.30. The amount was wired from the…