Volunteer State Bank v. National Bank of Commerce

MEMORANDUM

WISEMAN, Chief Judge.

On October 2, 1987, the Comptroller of the Currency of the United States approved applications of the National Bank of Commerce, (NBC), a national banking association located in Shelby County, Tennessee, to establish five branches outside its home county. Plaintiffs, Volunteer State Bank (Volunteer) and The Farmers Bank (Farmers), state chartered banks of Sumner County, Tennessee, brought suit in this Court seeking a permanent injunction against the action of the Comptroller and NBC. Plaintiffs allege that permitting the national bank to branch statewide…