Non-compete Suit

I recently left a local bank where I worked for 1 1/2 years as a mortgage loan officer. I was hired to work in the Huntley branch and was told when a position became available to work in an area closer to my home (Huntley was 1 1/2 hours away), I would be transferred. A position became available in Princeton. I purchased a home there and was transferred to Princeton. Three weeks later, I was transferred back to Huntley for reasons I had no control over. I was told I was a "victim of the situation" and I just had to deal with it and continue driving to Huntley, which was now over two hours each way to work from my new home. I left my job and went to work for a local mortgage company who is in direct competition with the bank I worked for. Now I received a letter from the bank's attorney about the non-compete agreement that I signed. It says that I can not work in the mortgage or banking industry for 18 months at any location within 30 miles of any of the bank's branches (with cover most of Illinois.) What do youn suggest I do? Do you think that this is a scare tactic or that it will go farther? Thank you and I appreciate any help you could give me.