State ex rel. Banking Commission v. Lexington State Bank

HIGGINS, Justice.

As a condition precedent to the establishment of a branch, the Commissioner of Banks must find that such branch will meet the needs of the community and the probable volume of business will be sufficient to assure and maintain the solvency of such branch. G.S. 53-62 provides: “Such approval shall not be given until he (Commissioner) shall find (i) that the estab*110lishment of such branch or teller’s window will meet the needs and promote the convenience of the community to be served by the bank, and (ii) that the probable volume of business and reasonable public demand in such…