First National Bank Midwest has filed a lawsuit over a Regency planned community that was named after the late Michael Myers, the company’s co-founder.

The lawsuit filed Wednesday targets a $7.6 million development loan to Michael’s Landing LLC, a Regency-related company that was to develop nearly 340 acres at the southwest corner of 88th Street and Mills Civic Parkway in West Des Moines.

The project originally was named Tallyn’s Reach, but was renamed after Myers’ death in December 2006.

Michael’s Landing remains largely undeveloped, with vacant lots lining streets and other land improvements that were installed by Regency.

First National Bank Midwest names Myers’ sons, James and Robert, and Regency co-founder Richard Moffitt as defendants.

Michael Medved, another longtime business partner of the Myers family, also is named as a defendant. Michael Myers and Medved were principal owners of check-cashing franchises.

In addition, Medved was a partner in a Regency condominium project in Minneapolis that is in receivership and the target of a foreclosure by Bank of the West. In a separate lawsuit, the bank also seeks to foreclose on Regency properties in Iowa.

A hearing is scheduled for today in Polk County District Court on a Regions Bank motion to have a receiver appointed in connection with a separate foreclosure on 81 Regency properties in Polk, Dallas and three other Iowa counties.