FIRST STATE BANK OF CLUTE, v. BD. OF GOVERNORS

No. 76-3073 Summary Calendar.

553 F.2d 950 (1977)

FIRST STATE BANK OF CLUTE, TEXAS, et al., Petitioners, v. BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, Respondent.

United States Court of Appeals, Fifth Circuit.

June 10, 1977.


Attorney(s) appearing for the Case

John E. Teed, Houston, Tex., C. Wayne Holder, Freeport, Tex., Charles T. Richardson, Clute, Tex., for petitioners.

James E. Scott, Atty., Board of Governors of the Fed. Reserve, John D. Hawke, Jr., Gen. Counsel, Washington, D. C., Ronald R. Glancz, Atty., Rex E. Lee, Asst. Atty. Gen., Appellate Sect., Dept. of Justice, Washington, D. C., for respondent.

Before THORNBERRY, RONEY and HILL, Circuit Judges.


JAMES C. HILL, Circuit Judge:

This appeal raises the issues of whether substantial evidence supports the findings of the Board of Governors of the Federal Reserve System that the acquisition of a proposed new bank will not have significant anticompetitive effects and will not violate State branch banking laws. In addition, this case also raises the question whether a bank must be in operation before the Board may approve an application by a bank holding company to...

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