Bank sues to recover Houts construction loan
FORT COLLINS — First National Bank of Pierre, South Dakota, with branches in Northern Colorado, has filed suit against Houts Development and Construction LLC of Fort Collins and its owner, David Houts, seeking recovery of a construction loan.
The unpaid principal on the loan, interest, default interest, late charges and fees total $642,758. The original loan amount was $596,180.
The suit, filed Thursday in Larimer County District Court, alleges that Houts received a loan in September 2017 from Advantage Bank, which was acquired by First National Bank of Pierre, South Dakota, in August 2019. Six times over the course…
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