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GREGORY v. MITCHELL

No. 78-3128

634 F.2d 199 (1981)

E. A. GREGORY and Vonna Jo Gregory, Plaintiffs-Appellants, v. Dennis M. MITCHELL, Individually and in his capacity as Alabama State Superintendent of Banks and as Chairman and Ex Officio a Member of the Alabama State Banking Board, et al., Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied February 11, 1981.

Attorney(s) appearing for the Case

E. A. Gregory, pro se.

Vonna Jo Gregory, pro se.

Steiner, Crum & Baker, Robert E. Steiner, III, Montgomery, Ala., for Mitchell, Watson, Grimsley, Rainer, Crump, Strother, McGahey.

Smith, Bowman, Thagard, Crook & Culpepper, Charles M. Crook, Montgomery, Ala., for F.D.I.C., First Alabama Bank, N.A., Notasulga, Alabama, First Alabama Bancshares, Inc.

Kenneth E. Vines, Asst. U. S. Atty., Montgomery, Ala., for U.S.A.

Before DYER, RUBIN and POLITZ, Circuit Judges.

POLITZ, Circuit Judge:

The events leading to this appeal commence circa 1974 when appellants purchased controlling interests in several rural Alabama banks, including the state-chartered First Bank of Macon County, Notasulga, Alabama. Appellants divested themselves of their interests in all but the First Bank of Macon prior to the initiation of this litigation. After acquiring majority stock ownership in each of the banks, appellants elected themselves directors and...

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