Northwest Bank is seeking the tools of the trade from a Des Moines recycling facility that has ties to Regency companies.

Northwest filed a lawsuit last week seeking $1 million in damages or collateralized equipment from Taylor Recycling Facility of Iowa LLC, a company that currently operates as Environmental Reclamation and Recycling Inc., 1422 Scott Ave.

Robert Myers, son of Regency co-founder Michael Myers, and John Gamble, Regency’s former chief financial officer, signed purchase agreements representing two limited liability companies with ties to the company when the site was purchased in 2003.

The land at the site was listed as collateral on a $26.6 million promissory note obtained by another Regency affiliated company in December 2007 from JPMorgan Chase Bank and signed by Robert Myers’ brother, James.

According to the Northwest lawsuit, Taylor Recycling obtained a $1.6 million promissory note in June 2004, using equipment valued at $1.7 million as collateral. Northwest demanded final payment on the note in April.

Northwest also filed a lawsuit last week seeking $3.5 million from another Regency company, both Myerses, Gamble and Richard Moffitt, who co-founded Regency with the late Michael Myers.

Meanwhile, West Bank has filed a lawsuit claiming that Moffitt and the Myerses as well as the spouses of the business partners are in arrears on individual loans. The lawsuit does not seek a specified amount of damages, nor does it list any personal property or real estate as security.

The bank’s holding company, West Bancorporation Inc. announced last month that it was increasing its provision for loan losses in the first quarter of 2008 because of financial problems at Regency Homes, which suspended operations April 25.

At the time, West Bancorporation said it had seven loans outstanding to individuals with Regency ties and six loans outstanding to Regency-related companies totaling $22 million, with $18 million secured by first mortgages and limited guarantees; $4 million in loans was unsecured.