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GRAVOIS BANK v. BOARD OF GOV. OF FED. RES. SYSTEM

No. 72-1423.

478 F.2d 546 (1973)

GRAVOIS BANK et al., Petitioners, v. BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM et al., Respondents, and Manchester Financial Corp. and the National Bank of Affton, Intervenors.

United States Court of Appeals, Eighth Circuit.

Decided April 27, 1973.

Attorney(s) appearing for the Case

Richard L. Hughes, St. Louis, Mo., for petitioners.

David F. Ulmer, St. Louis, Mo., for intervenors.

James C. Hair, Atty., Department of Justice, Washington, D. C., for respondents.

Before VAN OOSTERHOUT, Senior Circuit Judge, MEHAFFY and HEANEY, Circuit Judges.

HEANEY, Circuit Judge.

The petitioners, three Missouri banks, ask us to review an order of the St. Louis Federal Reserve Bank granting the intervenor, Manchester Financial Corporation, permission to acquire The National Bank of Affton, a bank in organization.

Manchester Financial Corporation (MFC) is a bank holding company incorporated in 1968. In September of 1969, pursuant to a reorganization plan, the shareholders of the Manchester Bank of St. Louis, a...

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