Robbery suspect has long list of financial struggles

Steven Dee Norred, the 55-year-old Bigfork man arrested in relation to the robbery of Glacier Bank in Lakeside Wednesday, has faced serious financial struggles in recent years.

On Dec. 11, 2009, Norred and his wife filed for bankruptcy according to documents filed through U.S. Bankruptcy Court in Butte. The Norreds cited more than $2 million in debt ranging from a $31 bill in Milwaukee to an outstanding loan of $519,328 through Citi Residential Lending of Rancho Cucamonga, Calif.

That mortgage amount matches the value of a pair of condominiums Norred reported as having been repossessed or surrendered in 2008. Several others of Norred’s belongings and properties were also listed as having been repossessed or surrendered prior to the bankruptcy filing, including a 2007 Pontiac, two 2007 Dodge vehicles, a 2004 Hummer, a 2003 Glastron boat, a motor and a trailer. He also lost two Bigfork properties.

The total value of everything seized was more than $1 million.

Despite the high value of property and claims involved in the case, Norred reported his household income — including that of his wife — totaled just $44,691 in 2007, $69,901 in 2008 and $53,621.23 in 2009. Throughout that period and earlier, Norred worked as a general contractor, doing business as Steve Norred Construction Inc. from 1996 to 2007, renaming the business Flathead River Construction in 2007.

At the time the filing was made, their average monthly income was reported to be $5,298, roughly $200 less than their monthly expenses. Norred and his wife had $93 in cash and $12 between two checking accounts.

The debt was discharged March 16, 2010, and the case was terminated three days later.

In the ruling, Norred and his wife were allowed to retain one vehicle — a 2008 Dodge Nitro — and approximately $2,350 worth of property, including $69.75 in cash.