Missouri-based Pulaski Bank has filed a lawsuit against rival First State Bank and three former employees alleging the theft of customer information, loan files and confidential trade secrets.
The suit, filed in the US District Court of Kansas, claims the former employees, while still employed at Pulaski, conspired to recruit new employees and pass confidential customer data and files to First State Bank for use in establishing a competing mortgage operation.
The suit follows the opening by First State Bank of two Kansas City-area home mortgage lending and origination offices with a combined work force of between 40 and 50 employees. The new local management staff includes Rita Rieke, previously a senior vice president and star sale person with Pulaski Bank Home Lending.
Pulaski has named Rieke and colleagues Linda Stewart and Charles Ziegler in the suit, which is seeking a return of data and punitive damages.