Peoples Bank of Indian River County v. State, Department of Banking & Finance

ERVIN, Judge.

The Department of Banking and Finance denied the appellants’ application for authority to organize a bank for failure to meet the criteria in Section 659.03(2)(a), (b), (e), and (f). Inability to meet criterion (a), requiring a showing that “[pjublic convenience and advantage will be promoted by the establishment of the proposed bank,” and criterion (b), requiring a showing that “[ljocal conditions assure reasonable promise of successful operation,” which could not be remedied by the appellants, was fatal to the application.

The appellants argue that the Department erred in basing…