United States v. Central State Bank

OPINION

BENJAMIN F. GIBSON, District Judge.

This action was filed by the Government alleging that the joint control of Central State Bank and State Savings Bank by Mr. Harry C. Calcutt violates section 1 of the Sherman Act, 15 U.S.C. § l. 1 The two banks have long competed for business in Benzie County, a small, rural community in northern Michigan. Of the 371 commercial banks in Michigan in 1984, State Savings ranked 319th and Central State ranked 321st in terms of total deposits. Mr. Calcutt, who was president, chairman of the board and the majority shareholder at State, obtained control of…