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FARMERS STATE BANK, KANAWHA v. BERNAU

Nos. 87-1199, 87-1202.

433 N.W.2d 734 (1988)

In the Matter of the Receivership of FARMERS STATE BANK, KANAWHA, Iowa, an Iowa Banking Corporation, v. William R. BERNAU, As State Superintendent of Banking, State of Iowa, Applicant. FARMERS STATE BANK, KANAWHA, Iowa, Appellant, v. DEPARTMENT OF BANKING and William R. Bernau, As Superintendent of Banking of the State of Iowa, Appellees.

Supreme Court of Iowa.

December 21, 1988.

Attorney(s) appearing for the Case

Earl Hill, David J. Siegrist, and David J. Hanson of Hill & Siegrist, Britt, for appellant.

Thomas J. Miller, Atty. Gen., Donald G. Senneff and Julie F. Pottorff, Asst. Attys. Gen., for appellees.

Considered en banc.

NEUMAN, Justice.

This is an appeal by the Farmers State Bank of Kanawha, Iowa, (bank) from a district court judgment that affirmed, on judicial review, the agency action of the Iowa Division of Banking and its Superintendent William R. Bernau (superintendent). The superintendent assumed management of the financially troubled bank pursuant to authority granted under Iowa Code sections 524.224 and .226 (1987), and the district court upheld that action and appointed...

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