A Shelby County financial institution is attempting to recover monies from a foreclosed Nacogdoches business. Texas State Bank in Joaquin is the first and third lien holders of the closed Hotel Fredonia. Texas State Bank began foreclosure proceedings in December—a month after the hotel’s owner, Susan Reents filed for personal bankruptcy protection in federal court. Reents closed the property in November after acquiring it for $2.5 million five years earlier. She later invested a million dollars in renovation. A foreclosure sale is scheduled for tomorrow, while another’s been put on hold while due diligence is done. Texas State Bank’s foreclosure notice says the owner owes them over $1.7 million, which is growing daily. There’s also a $145-thousand federal tax lien against the Hotel Fredonia. If a foreclosure sale takes place, it’ll be at 10:30 Tuesday at the Nacogdoches County Courthouse.