First National Indemnity Co. v. First Bank & Trust of Groves

753 S.W.2d 405 (1988)

FIRST NATIONAL INDEMNITY COMPANY, Appellant,

v.

FIRST BANK AND TRUST OF GROVES, TEXAS, Appellee.

No. 09-87-157 CV.

Court of Appeals of Texas, Beaumont.

June 30, 1988.

Ron J. West, Houston, for appellant.

Clint Lewis, Beaumont, for appellee.

OPINION ON APPELLEE'S MOTION FOR REHEARING

DIES, Chief Justice.

The opinion of this court dated April 28, 1988, is withdrawn and this opinion is substituted.

Appellant, First National Indemnity Company, issued a credit insurance policy to Appellee, First Bank and Trust of Groves, Texas. The bank suffered a loss on an improvement loan and…