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STATE EX REL. BANK. COM'N v. CABARRUS BANK & TRUST CO.

No. 7210SC291.

189 S.E.2d 496 (1972)

STATE of North Carolina On Relation of the BANKING COMMISSION, and First-Citizens Bank & Trust Company v. CABARRUS BANK & TRUST COMPANY and First National Bank of Albemarle.

Court of Appeals of North Carolina.

June 28, 1972.

Attorney(s) appearing for the Case

Ward, Tucker, Ward & Smith, by David L. Ward, Jr., and J. Troy Smith, Jr., New Bern, for plaintiff appellee, First-Citizens Bank & Trust Co.

Sanford, Cannon, Adams & McCullough, by Hugh Cannon and E. D. Gaskins, Jr., Raleigh, for defendant appellants.

BRITT, Judge.

Appellants contend that G.S. § 53-62(b) requires that an applicant bank establish the existence of specific, unmet banking needs as a prerequisite to the establishment of a branch bank. We do not agree with this contention.

Appellants' contention relates to the "meet the needs and promote the convenience of the community" proviso of G.S. § 53-62(b). This contention was expressly disavowed by this court in the recent decision rendered...

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