Court rules Franklin County couple liable for $3.45 million

Franklin County District Court ruled that Roger and Kaye Peters, owners of now-closed-Hampton-business Franklin County Lumber (F.C. Lumber) are responsible for payment of $3,455,626.67 to the Exchange Bank of Missouri (Exchange Bank), as well as the bank’s attorney and legal fees — part of a law binding account agreement signed by both Peters with the bank, according to court documents.

On Feb. 26, 2016, the Exchange Bank filed a suit, outlining the counts of allegations against the business and its owners. The Exchange Bank alleged that both Peters opened a commercial business checking account for F.C. Lumber, signing on to the account services agreement, which bound them to “liable to us [Exchange Bank] for debit balances…overdrafts and account charges…and promise to pay, on demand, any and all debit balances, all fees and charges, and our reasonable attorney’s fees and costs and expenses…”

Read the full article in the June 29 edition of the papers.