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CENTRAL BANK & TRUST COMPANY v. BRIMHALL

No. 12636.

497 P.2d 638 (1972)

28 Utah 2d 14

CENTRAL BANK & TRUST COMPANY, a corporation, and Utah Valley Bank, Plaintiffs and Appellants, v. W.S. BRIMHALL, Commissioner of Financial Institutions, et al., Defendants and Respondents.

Supreme Court of Utah.

May 25, 1972.

Attorney(s) appearing for the Case

Peter W. Billings, of Fabian & Clendenin, Salt Lake City, for appellant.

H. Wright Volker, Asst. Atty. Gen., Salt Lake City, for W.S. Brimhall.

Don B. Allen, Ray, Quinney & Nebeker, Salt Lake City, for First Security Corp.

CROCKETT, Justice:

Plaintiffs, Utah Valley Bank and the Central Bank & Trust Company, appeal from a judgment of the district court which sustained the findings and order of the State Bank Commissioner1 granting the First Security Corporation a charter to establish a bank in Springville, Utah. The position of the plaintiffs is that the application of First Security to establish the new bank was in fact a subterfuge to disguise its real...

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