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FEDERAL DEPOSIT INS. CO. v. PEOPLES NAT. BANK OF TYLER

No. 229.

407 S.W.2d 512 (1966)

FEDERAL DEPOSIT INSURANCE CORPORATION, Appellant, v. The PEOPLES NATIONAL BANK OF TYLER et al., Appellees.

Court of Civil Appeals of Texas, Tyler.

Rehearing Denied November 3, 1966.

Attorney(s) appearing for the Case

Frank L. Skillern, Jr., Strasburger, Price, Kelton, Miller & Martin, Dallas, for appellant.

Charles Potter, Spruiell, Lowry, Potter, Lasater & Guinn, Tyler, for Peoples Nat. Bank of Tyler.

Kelly Smith, Smith & Smith, Tyler, for J. B. McClung.

Ben Johnson, Johnson, Hathaway & Jackson, Tyler, for L. A. and Wm. L. Brady.

SELLERS, Justice.

The Winona State Bank of Winona, Texas, a banking corporation, had been operated by J. B. McClung, the sole banker in charge, prior to the time this suit was filed, and for many years. In fact, J. B. McClung's father operated the bank for many years before J. B. McClung took charge of the same. Some time around 1965, this bank ceased to do business and was placed in control of appellant Federal Deposit...

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