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FARMERS & MERCHANTS BANK OF LAS CRUCES v. BD. OF GOVERNORS OF FEDERAL RESERVE SYSTEM

No. 76-1367.

567 F.2d 1082 (1977)

FARMERS AND MERCHANTS BANK OF LAS CRUCES, NEW MEXICO, Petitioner, v. BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, Respondent, First New Mexico Bankshare Corp., Intervenor.

United States Court of Appeals, District of Columbia Circuit.

Decided November 7, 1977.

As Amended December 22, 1977.

Attorney(s) appearing for the Case

William L. Lutz, Las Cruces, N. M., for petitioner.

Ronald R. Glancz, Atty., Dept. of Justice, Washington, D.C., with whom Rex E. Lee, Asst. Atty. Gen., and John D. Hawke, Jr., Gen. Counsel, Bd. of Governors of the Federal Reserve System, Washington, D.C., were on the brief, for respondent. Michael Kimmel, Atty., Dept. of Justice, Washington, D.C., also entered an appearance for respondent.

Edwin B. Spievack and Ian D. Volner, Washington, D.C., were on the brief, for intervenor.

Before MacKINNON, ROBB and WILKEY, Circuit Judges.

Opinion for the court filed by Circuit Judge MacKINNON.

MacKINNON, Circuit Judge:

On March 29, 1976, the Board of Governors of the Federal Reserve System (hereafter "Board"), acting pursuant to the Bank Holding Company Act of 1956, 12 U.S.C. § 1841 et seq., approved the application by the First New Mexico Bankshare Corporation (hereafter "Bankshare"), a bank holding company of Albuquerque, New Mexico, to acquire all of the stock of the Bank of Las Cruces...

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