Gibsland Bank and Trust Company v. The Security Guarantee Corporation of Baltimore

CourtLouisiana Court of Appeal
DecidedJanuary 21, 2026
Docket56,594-CA
StatusPublished
AuthorEllender

This text of Gibsland Bank and Trust Company v. The Security Guarantee Corporation of Baltimore (Gibsland Bank and Trust Company v. The Security Guarantee Corporation of Baltimore) is published on Counsel Stack Legal Research, covering Louisiana Court of Appeal primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Gibsland Bank and Trust Company v. The Security Guarantee Corporation of Baltimore, (La. Ct. App. 2026).

Opinion

Judgment rendered January 21, 2026. Application for rehearing may be filed within the delay allowed by Art. 2166, La. C.C.P.

No. 56,594-CA

COURT OF APPEAL SECOND CIRCUIT STATE OF LOUISIANA

*****

GIBSLAND BANK AND TRUST Plaintiff-Appellee COMPANY

versus

THE SECURITY TITLE Defendant-Appellant GUARANTEE CORPORATION OF BALTIMORE

Appealed from the First Judicial District Court for the Parish of Caddo, Louisiana Trial Court No. 606,872

Honorable Ramon Lafitte, Judge

HARLAN LAW FIRM, LC Counsel for Appellant By: Hansel M. Harlan

PERKINS AND ASSOCIATES, LLC By: Mark A. Perkins John F. Frederickson

COLVIN, SMITH, McKAY & BAYS Counsel for Appellee By: James H. Colvin, Jr. J. Clayton Caraway

Before PITMAN, STONE, and ELLENDER, JJ. ELLENDER, J.

Security Title Guarantee Corp. of Baltimore (“Security”) appeals a

judgment finding it breached its title insurance policy to Gibsland Bank &

Trust (“GBT”) and that its failure to pay was arbitrary and capricious,

resulting in property tax penalties and interest of $33,256.71, attorney fees

from the borrower’s bankruptcy and sheriff sale of $13,113.12, a statutory

penalty of $5,632.76, and attorney fees of $140,174.78. GBT answers the

appeal seeking additional damages of $258,500 and an enhanced penalty of

$92,739.66. For the reasons expressed, we find the district court erred in

awarding certain damages that were not covered by Security’s policy and in

imposing excessive attorney fees. We therefore reverse in part, affirm in

part, and render to reflect these changes. We also deny GBT’s answer to

appeal.

FACTUAL BACKGROUND

The borrower, Timothy Thomas, owned property in Avery

Subdivision, in central Shreveport (4710 Linwood Ave.). In late 2010 he

came to GBT to get a loan for his construction business and tree service,

offering the property as security. GBT agreed to extend him a $150,000

secured line of credit and hired John Settle, of ArkLaTex Title, to conduct a

title exam.1 The preliminary exam, dated January 5, 2011, revealed one

prior lien, a 2008 mortgage held by Bankers’ Insurance Co. (“BIC”), which

was to be canceled at closing. On January 13, 2011, the loan was closed,

GBT advanced Thomas $50,634.07, and had him sign a multiple obligations

1 Settle was a practicing attorney who also owned the title company at the time. He sold the title company in 2019 and permanently resigned from the practice of law in lieu of discipline in early 2020. In re Settle, 19-1838 (La. 1/14/20), 268 So. 3d 1038. mortgage (“MOM”) for $154,009. GBT purchased a title insurance policy

issued by Security, as principal, from ArkLaTex Title, as agent, for

$154,009, dated January 13, 2011. The policy insured GBT’s MOM would

be in a first lien position.

The MOM was not recorded until January 19, 2011, six days after the

closing. However, on January 11 – after the date Settle completed his

preliminary title exam on January 5 but before GBT’s MOM was recorded –

Thomas executed another mortgage on the property in favor of BIC, for

$100,000 and payable to any future holder. BIC recorded this the same day,

January 11. The preliminary title exam was not updated prior to issuing the

title policy on January 13, or prior to GBT’s MOM being filed on January

19, to confirm no new liens were now encumbering the property. Settle

issued the title insurance policy on behalf of Security on January 13 showing

GBT in a first lien position. However, because BIC’s mortgage was filed

eight days before GBT’s MOM, BIC was actually in a first lien position,

relegating GBT to second.

On May 18, 2011, the Caddo Parish Clerk of Court generated a

mortgage certificate showing BIC’s 2011 mortgage was superior to GBT’s

MOM. However, GBT did not scan this into its system until almost a year

later, May 8, 2012. GBT’s internal auditor, Scott Spillers, testified he had

no idea when GBT received the certificate, and he never saw it until it was

scanned.

In the meantime, however, on February 4, 2012 – before the

certificate was scanned – GBT advanced another $140,569 to Thomas, still

secured by the MOM. Then, on April 26, GBT obtained from Security an

increase in its policy limits, from $154,009 to $500,000. Again, on May 3, 2 GBT advanced yet another tranche, $292,000, to Thomas, secured by the

MOM.

On May 8 – the day the mortgage certificate was scanned – Wade

Holloway, the GBT officer who handled Thomas’s loan, emailed John Settle

to say there was “some confusion” about the BIC mortgage, which predated

the MOM. Holloway wrote GBT needed to advance still more money to

Thomas, but they were “at a standstill” until the matter could be clarified.

Notably, GBT did not notify Security about the problem, only Settle. For the

next several years, Settle tried to negotiate with Thomas to subordinate the

BIC mortgage to the MOM; these efforts were unsuccessful.

Nevertheless, on June 4, 2013, GBT advanced yet another large sum

of money, $197,500, to Thomas, again secured by the MOM. GBT’s

president, Tom Martin, testified that for several years Thomas was current

on his payments. Unbeknownst to GBT, however, Thomas had let his

property taxes lapse for the years 2012 through 2016; because GBT was not

the first-position lender, it did not receive notice of this delinquency. In

early 2017, Thomas defaulted on his GBT loans.

On March 22, 2017, GBT’s in-house counsel, Jack Slaid, advised

Security by certified mail that the policy insured a merchantable title, the

BIC mortgage was in fact in first position, and the payoff on the MOM was

$475,325. The letter demanded that Security “resolve the claim” under the

policy. This was the first notice sent directly to Security at the address

provided in the policy for such notices.

On March 28, Security responded to GBT, acknowledging the claim

and stating the company was investigating the matter. That same day,

3 Security emailed John Settle referring to a “notice of claim” and asking

Settle to forward his file; Settle promptly sent Security the closing file.

On April 4, Security sent GBT a follow-up letter advising its

investigation disclosed GBT had knowledge of the BIC mortgage at least by

April 2012. Security asked why notice of the prior mortgage was not given

then, as required by the policy. Security also emailed a series of follow-up

questions to Settle, who denied recalling much about the transaction. In

later emails between Settle and GBT’s president, Martin, Settle stated, “It’s

always a former employee who drops the ball,” and advised that his agency

relationship with Security had been terminated.

On July 5, GBT’s in-house counsel responded to Security, “I am at a

loss as to why our knowledge or lack thereof would be relevant.” Slaid

further said he would gather the requested materials, but he reiterated GBT’s

claim on the policy.2 According to Security, no further documents were ever

provided.

PROCEDURAL HISTORY

On February 21, 2018, GBT filed this suit against Security. It alleged

the policy was triggered by the notice it sent on March 22, 2017, and

acknowledged on March 28, but Security took no further action within the

60 days allowed by La. R.S. 22:1973 for resolution of the claim. It also

claimed this conduct was in bad faith, arbitrary, capricious, and without

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