Commerce Bank of Missouri filed a federal lawsuit against Forest Park Medical Center in Southlake, seeking more than $3.4 million it is owed from when the hospital defaulted on a loan.
FPMC Southlake entered into a $9.4 million syndicated loan agreement to buy equipment led by Commerce Bank in April 2013, according to the lawsuit, filed Nov. 5 at U.S. District Court for the Northern District of Texas.
The bank alleges that the hospital defaulted on the loan in August after failing to maintain minimum operating cash flow and tangible net worth requirements and failing to provide complete financial statements for 2014.
Other hospitals in the FPMC system have also experienced financial woes. FPMC in San Antonio and Dallas both closed in October, and FPMC Frisco filed for bankruptcy in September to restructure more than $12 million in debts.