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NORTHWEST BANCORPORATION v. BOARD OF GOVERNORS, ETC.

No. 16774.

303 F.2d 832 (1962)

NORTHWEST BANCORPORATION, Petitioner, v. BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, Respondent.

United States Court of Appeals Eighth Circuit.

June 13, 1962.

Attorney(s) appearing for the Case

Loring M. Staples, of Faegre & Benson, Minneapolis, Minn., for petitioner; Leonard O. Langer, of Faegre & Benson, Minneapolis, Minn., with him on the brief.

Pauline B. Heller, Attorney, Dept. of Justice, Washington, D. C., for respondents; William H. Orrick, Jr., Asst. Atty. Gen., Washington, D. C., and John G. Laughlin, Jr., Atty., Dept. of Justice, Washington, D. C., with her on the brief.

Horace R. Hansen, St. Paul, Minn., for Independent Bankers Ass'n; Hansen, Hazen & Lynch, St. Paul, Minn., on the brief.

Before VOGEL, BLACKMUN and RIDGE, Circuit Judges.

VOGEL, Circuit Judge.

This is a petition for review of an order of the Board of Governors of the Federal Reserve System (hereinafter the Board) dated March 23, 1961, denying an application of Northwest Bancorporation, petitioner, to secure prior approval of petitioner's proposed acquisition of 80% or more of the 1500 outstanding shares of stock of the First National Bank of Pipestone, Minnesota (hereinafter the bank). Petitioner is a bank holding company as defined...

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