Elkins Park, Pa.-based NoahBank filed a lawsuit against Duluth, Ga.-based NOA Bank over allegations of violating the Lanham Act, includingtrademark infringement, false designation of origin and description and unfair competition,as well as a number of state law claims.
The lawsuit — filed in the U.S. District Court for the SouthernDistrict of New York — stems from NOA Bank's hiring of a former Noah Bank officerand the opening of a loan production office in New York in March.
According to an April 13 news release, Noah Bank alleges thatNOA Bank intentionally engaged in an unlawful scheme to confuse customers and prospectsof Noah Bank in an effort to steal them away.
In addition, Noah Bank claims that NOA Bank targeted the Korean-Americancommunity that it has served since 2004, by adopting infringing trademarks and usingconfidential information unlawfully obtained from its former executive vice presidentand senior lender.
NOA Bank is a unit of NOABancorp Inc.