State v. Cabarrus Bank & Trust Co.

BRITT, Judge.

Appellants contend that G.S. 53-62 (b) requires that an applicant bank establish the existence of specific, unmet banking needs as a prerequisite to the establishment of a branch bank. We do not agree with this contention.

Appellants’ contention relates to the “meet the needs and promote the convenience of the community” proviso of G.S. 53-62 (b). This contention was expressly disavowed by this court in the recent decision rendered in Banking Comm. v. Bank, 14 N.C. App. 283, 188 S.E. 2d 9 (1972), and the reasoning applied in that case applies equally to this case. In that case the…