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IN RE APPLICATION OF UNION COMMUNITY BANK

144 N.J. Super. 39 (1976)

364 A.2d 553

IN THE MATTER OF THE APPLICATION OF UNION COMMUNITY BANK FOR A CHARTER AT 1981 MORRIS AVENUE, UNION TOWNSHIP, UNION COUNTY, NEW JERSEY.

Superior Court of New Jersey, Appellate Division.

Decided September 29, 1976.

Attorney(s) appearing for the Case

Mr. Justin P. Walder argued the cause for appellant (Messrs. Walder, Steiner, Sondak & Evenchick, attorneys; Mr. Walder and Mr. Barry H. Evenchick of counsel; Mr. Evenchick on the brief).

Mr. Kenneth L. Estabrook argued the cause for cross-appellant Union Center National Bank (Messrs. Lindabury, McCormick & Estabrook, attorneys; Messrs. Estabrook, Peter A. Somers and William R. Watkins on the brief).

Mr. Richard A. Norris argued the cause for cross-appellant Franklin State Bank (Messrs. Norris, McLaughlin, Trucker & Marcus attorneys; Mr. Norris on the brief).

Mr. Michael E. Goldman, Deputy Attorney General, argued the cause for respondent Richard F. Schaub, Commissioner of Banking (Mr. William F. Hyland, Attorney General of New Jersey, attorney; Mr. Stephen Skillman, Assistant Attorney General, of counsel; Mr. Michael E. Goldman, Deputy Attorney General, on the brief).

Before Judges CARTON, KOLE and LARNER.

The opinion of the court was delivered by KOLE, J.A.D.

In October 1973 Union Community Bank filed an application with the Department of Banking seeking a new bank charter. Hearings on that application were conducted in March and April 1974. Union Center National Bank and Franklin State Bank appeared in opposition to the grant of the charter.

On September 24, 1974 the hearing officer submitted his report, recommending approval of the charter application subject...

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