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FIRST WESTERN BANK WALL v. OLSEN

No. 21441.

621 N.W.2d 611 (2001)

2001 SD 16

FIRST WESTERN BANK WALL, Petitioner and Appellant, v. Kenneth OLSEN; Kermit Olsen; Ray S. Olsen; Roberta Olsen; Roberta Olsen, as Executrix of the Estate of Ruth E. Olsen; Walborg M. Robbins, and Karen Kunstle, Appellees.

Supreme Court of South Dakota.

Decided January 31, 2001.

Attorney(s) appearing for the Case

Gregory A. Eiesland, Kristi K. Wammen of Johnson Eiesland Huffman & Clayborne, Rapid City, SD, Attorneys for petitioner and appellant.

Haven L. Stuck, Donald R. Shultz of Lynn, Jackson, Shultz & Lebrun, Rapid City, SD, Attorney for appellees.

GILBERTSON, Justice.

[¶ 1.] Pursuant to SDCL 47-6-48, First Western Bank of Wall (Bank) petitioned the circuit court for a determination of "fair value" of certain fractional shares belonging to dissenting shareholders. The circuit court determined the "fair value" of the fractional shares did not include a minority discount or a non-marketability discount. Therefore, the circuit court determined the "fair value" of the shares to be $1,414,640, rather than $601...

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