In Re City Savings Bank

This action involves a petition for approval of the consolidation of City Savings Bank of Berlin and Berlin City National Bank under RSA ch. 388. The issue presented on this appeal is whether dissenting depositors in a mutual savings bank are constitutionally entitled to a right of appraisal and cash payment option for their share of the bank’s surplus.

The merger plan provides that the Berlin City National Bank would convert from a federally chartered national bank to a state chartered trust company and that deposits in the mutual savings bank, City Savings, would be transferred to the new…