The former Chief Financial Officer of Reagor Dykes, Shane Smith, issued a statement via his attorney on Friday in response to a lawsuit filed by Vista Bank.

UPDATE: On November 1, 2018, Vista Bank requested to non-suit the case. In other words, Vista stopped the lawsuit. The judge allowed Vista to do so without prejudice – meaning Vista has the right to file the lawsuit again if the bank so chooses. 

“It is unfortunate that Vista Bank has decided to attack me and my family with this lawsuit,” Smith said in a written statement.  

“… As early as last week, their attorney informed me he felt they would work out a term loan so that I could pay back the loan with principal and interest payments, as I had promised them I would,” Smith also said.

Vista’s lawsuit on Wednesday afternoon said Smith owed $182,258.54 on a $200,000 loan that started on January 5.

Vista said, “Notwithstanding demands being made for the payment of the above referenced Note 1, Shane Smith has failed to and refused to pay the Note, and the principal balance of the Note was accelerated.”

Smith took issue with that as did his attorney.

Smith said, “All interest payments have been made on time and nothing is past due, as they have claimed. The statement I received just this week says nothing about being past due.”

Smith lost his job around August 1 when Reagor Dykes filed for bankruptcy.  His former boss, Rick Dykes, accused him of making false statements. Smith has not addressed those allegations.

We have invited Vista to comment.  Look for an update if Vista accepts the invitation. 

E.G. “Gerry” Morris issued the following statement and a statement from Shane Smith: 

It is not my practice to comment to the press on any ongoing legal matter. However, in light of the press reports yesterday concerning the Vista Bank lawsuit, Mr. Smith thought it important to correct the article’s mischaracterization of his relationship with Vista Bank and his intentions concerning payment of his outstanding indebtedness to that institution and others. I concur with his decision. The following is a statement from Mr. Smith:

“It is unfortunate that Vista Bank has decided to attack me and my family with this lawsuit, when as early as last week, their attorney informed me he felt they would work out a term loan so that I could pay back the loan with principal and interest payments, as I had promised them I would. All interest payments have been made on time and nothing is past due, as they have claimed. The statement I received just this week says nothing about being past due. I am planning on paying Vista Bank, and any other creditor that I owe. I would hope they would want to be paid back, and I hope that a reasonable agreement, other than demanding the entire balance, can be accomplished.”

Related Story: Vista Bank sues Shane Smith for unpaid loan