Fourth Circuit Holds That Bank Officers May Be Personally Liable for Poor Loan Decisions Under a Theory of Negligence if Not Protected Under the Bank’s Articles of Incorporation

The United States Court of Appeals for the Fourth Circuit recently vacated a lower court’s grant of summary judgment on negligence and breach of fiduciary duty allegations against the officers of a failed bank.  See F.D.I.C. ex rel. Co-op. Bank v. Rippy, 2015 WL 4910473 (4th Cir. Aug. 18, 2015)