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STONEMAN v. UNITED NEBRASKA BANK

No. S-96-941.

577 N.W.2d 271 (1998)

254 Neb. 477

Lyle STONEMAN et al., Appellees, v. UNITED NEBRASKA BANK et al., Appellants, and Department of Banking and Finance of the State of Nebraska et al., Appellees.

Supreme Court of Nebraska.

April 17, 1998.

Attorney(s) appearing for the Case

Gerald P. Laughlin and Tiffany L. Seevers, of Baird, Holm, McEachen, Pedersen, Hamann & Strasheim, Omaha, for appellants.

Terry R. Wittler, Larry A. Holle, and Jill Gossin Jensen, of Cline, Williams, Wright, Johnson & Oldfather, Lincoln, for appellees Stoneman et al.

WHITE, C.J., and CONNOLLY, GERRARD, and McCORMACK, JJ., and ENDACOTT, District Judge, and GRANT and FAHRNBRUCH, JJ., Retired.

CONNOLLY, Justice.

The issue in this appeal presents the question of whether the minority shareholders of a banking corporation who are "cashed out" via merger have a right to receive fair value for their shares, notwithstanding bank minority shareholders' exclusion from Neb.Rev.Stat. § 21-20,138 (Reissue 1997). We conclude that bank shareholders do indeed have such a right, and we affirm.

I. BACKGROUND

Lexington State Bank & Trust Co. ...

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