Second bank sues School Bus Inc. in Sioux Falls


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.

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