SIOUX FALLS (AP) – A second bank is suing a Sioux Falls school bus company for defaulting on loans.
Reliabank Dakota says School Bus, Inc. and its owner Steven Hey owe more than $1 million. Collateral includes at least seven school buses.
The Argus Leader reports the lawsuit by Reliabank comes weeks after Frontier Bank sued, claiming School Bus owed more than $500,000.
Sioux Falls School District officials say they are aware of the financial issues facing School Bus, but believe transportation for its students will not be affected.