FirstCapital Bank denied wrongdoing hours after news broke that Lubbock-based Vista Bank made allegations against FirstCapital, namely that it supported a $6 million check kiting fraud.
Vista accused FirstCapital of relying on insider information to pass along $6 million of damage related to the Reagor Dykes bankruptcy case. Vista said until recently Rick Dykes was a director on the FirstCapital board of directors.
FirstCapital said the following in a brief statement:
“This is a lawsuit which asserts claims that are without merit either in law or in fact. FirstCapital Bank utilized legally appropriate procedures available through the bank collection process to return checks presented by Vista Bank to FirstCapital for payment and which FirstCapital was legally entitled to reject. As always, we will continue to act in the best interest of our shareholders, customers, team members and communities.”
CLICK HERE to see a copy of the FirstCapital response. The official legal response was not yet available in court records at the time of the FirstCapital’s media statement. It was provided by FirstCapital via email.
Related Story: Lubbock bank accused another bank of $6 million fraud
