CountyBank of Orange was advertised as "the bank of a lifetime," but its agreement with the ad agency lasted less than a year and now the bank wants its money back.
On April 14, 2004, CountyBank signed a three-year contract with Cygnus Inc., doing business as Golnick Advertising Inc. of Fort Lauderdale, Fla.
Under the contract, the bank paid Golnick $20,390 for television commercials and radio spots using the "Bank of a Lifetime" theme. The contract included a one-year opt-out with a prorated refund at the client's request.
On Feb. 28, 2005, officials at the First National Bank of Newton sent a letter to Golnick to cancel the agreement.
"As per our contract, we are exercising our right to opt-out of the agreement between CountyBank and Golnick, effective March 1, 2005," the letter states. "Please wire our pro-rated refund."
As of Jan. 31, 2006, the bank had not received the reimbursement of $14,018.
The matter resulted in a lawsuit, CountyBank vs. Cygnus Inc., filed in Orange County District Court on April 26.
CountyBank is seeking the amount of refund plus attorney fees of at least $1,500.
Allan and Lynwood Sanders of Orange are representing the plaintiff.
The case has been assigned to the 128th District Court of Judge Pat Clark.
Case No. A070-217-C