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STATE EX REL. BANKING COM'N v. LEXINGTON STATE BANK

No. 75.

187 S.E.2d 747 (1972)

281 N.C. 101

STATE of North Carolina on relation of the BANKING COMMISSION, and Branch Banking and Trust Company v. LEXINGTON STATE BANK.

Supreme Court of North Carolina.

April 12, 1972.

Attorney(s) appearing for the Case

Jordan, Morris & Hoke by John R. Jordan, Jr. and William R. Hoke, Raleigh, Walser, Brinkley, Walser & McGirt by Walter F. Brinkley, Lexington, for defendant appellant.

Carr & Gibbons by F. L. Carr, Wilson, DeLapp, Ward & Hedrick by Hiram H. Ward, Lexington, for plaintiff appellee.

HIGGINS, Justice.

As a condition precedent to the establishment of a branch, the Commissioner of Banks must find that such branch will meet the needs of the community and the probable volume of business will be sufficient to assure and maintain the solvency of such branch. G.S. § 53-62 provides: "Such approval shall not be given until he (Commissioner) shall find (i) that the establishment of such branch or teller's window will meet the needs and promote the...

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