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The full case caption appears at the end of this opinion.

In the course ofhis employment with Jo Daviess Services,Inc. (“Jo Daviess,” or “the company”),Arlyn Hemmen managed to misappropriatemore than $80,000 from the company’s bankaccount at the Elizabeth State Bank(“ESB” or “the bank”). Mutual ServiceCasualty Company (“Mutual”), whichinsured Jo Daviess, compensated thecompany for its loss. Mutual then filedsuit against ESB, contending that thebank had breached its contractualobligations to Jo Daviess byallowingHemmen to abscond with its funds.The case proceeded to trial, and afterboth parties had presented their cases,Judge Reinhard entered judgment as amatter of law in favor of Mutual. ESBappeals, contending that Mutual was notentitled to judgment as a matter of lawand that the prejudgment interest thatthe district court awarded to Mutual wasinappropriate. We affirm the judgment inMutual’s favor but remand forrecalculation of the award of prejudgmentinterest.

 
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