First Arkansas Bank & Trust is hoping to find some money in the cupboard of Wright’s Cabinets Inc. of Jacksonville.
The Jacksonville bank filed a lawsuit in May against Wright’s Cabinets and its related company RDH Cabinets LLC, seeking a judgment of $5.7 million for allegedly defaulting on loans. The bank’s lawsuit was filed in Pulaski County Circuit Court.
The companies share an address and officers. Robert E. Heard and Donna M. Heard are the managing members of RDH Cabinets. Donna Heard is the president of Wright’s Cabinets and Robert Heard is the company’s vice president. The Heards have been named individually as defendants in the lawsuit.
The bank said in its lawsuit that RDH Cabinets borrowed $2 million from the bank in 2017 and as of April 27, owes $1.55 million.
Between 2017 and 2022, Wright’s Cabinets borrowed $4.9 million, according to the complaint. As of late April, the amount owed on the loans totaled $4.1 million.
The Heards had personally guaranteed some of the loans.
RDH Cabinets is in default under the terms of the notes because “RDH has failed to pay the amounts owed when due,” the lawsuit said.
Wright’s Cabinets also is in default under the terms of the loans because it failed to pay the amounts owed when due, the lawsuit said.
The bank wants to foreclose on the mortgages that were used to secure the loans, which includes the property at Wright’s Cabinets’ address in Jacksonville.
Donna Heard told Whispers last month she didn’t know about the lawsuit and declined to talk further.
The company said on its website that it’s “been in business since 1972 and always strives to provide the highest quality at wholesale prices.”
The bank is represented by attorneys Adrienne Baker and Collins Hickman of Wright Lindsey Jennings of Little Rock.