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FIRST BANK v. DEPT. OF REGULATORY AGENCIES

No. 92CA0386.

852 P.2d 1345 (1993)

FIRST BANK, a State Bank; Edward V. Lohman, David E. Lohman, Richard V. Lohman, and such other shareholders of First Bank of Colorado Springs as may hereinafter elect to join in such action, Plaintiffs-Appellants, v. STATE of Colorado, DEPARTMENT OF REGULATORY AGENCIES, DIVISION OF BANKING; Ralph E. Mires, State Bank Commissioner; and all members of the Colorado State Banking Board, Defendants-Appellees.

Colorado Court of Appeals, Div. V.

April 22, 1993.

Attorney(s) appearing for the Case

Eason, Sprague & Wilson, P.C., Richard L. Eason, Eugene M. Sprague, Denver, Duitch & Ogawa, P.C., Dean T. Ogawa, Colorado Springs, for plaintiffs-appellants.

Gale A. Norton, Atty. Gen., Raymond T. Slaughter, Chief Deputy Atty. Gen., Timothy M. Tymkovich, Sol. Gen., Richard H. Forman, Senior Asst. Atty. Gen., Denver, for defendants-appellees.

Opinion by Judge BRIGGS.

Petitioners, First Bank and certain former directors and shareholders (collectively the Bank), appeal the judgment of the district court affirming the order of the Colorado State Banking Board (Board). In its order, the Board denied the Bank's request to rescind the Board's earlier order for possession and liquidation of First Bank's assets. The Bank contends the Board misapplied statutory procedures and violated the Bank's right to due process...

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