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FARMERS STATE BANK v. BOARD OF GOVERNORS, ETC.

No. 77-1039.

565 F.2d 1056 (1977)

FARMERS STATE BANK OF CROSBY, a State Banking Association, Petitioner, v. The BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, Respondent.

United States Court of Appeals, Eighth Circuit.

Decided November 30, 1977.

Attorney(s) appearing for the Case

Frank F. Jestrab, Williston, N. D., for petitioner.

Ronald R. Glancz, Atty., Dept. of Justice, Civ. Div., Appellate Sec., Washington, D.C., for respondent; John D. Hawke, Jr., Gen. Counsel, Richard M. Ashton, Atty., Board of Governors of the Federal System, Barbara Allen Babcock, Asst. Atty. Gen., Washington, D.C., on brief.

James B. Loken, Minneapolis, Minn., for intervenor-respondent.

Before GIBSON, Chief Judge, BRIGHT, Circuit Judge, and TALBOT SMITH, Senior District Judge.

PER CURIAM.

Petitioner Farmers State Bank of Crosby, North Dakota (Farmers Bank), challenges an order of the Board of Governors of the Federal Reserve System (the Board) granting Dakota Bancorporation (DBC) permission to acquire a proposed national bank at Crosby. We affirm the Board's order.

DBC, a bank holding company in South Dakota, contemplates the following series of transactions. A group of investors, including the president of DBC, has received permission...

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