First National Bank of Smithfield, North Carolina v. James J. Saxon, Comptroller of the Currency of the United States, First National Bank of Smithfield, North Carolina v. First National Bank of Eastern North Carolina’s Empirical Analysis

Citation profile

34 federal appellate · 7 district · 8 state decisions

Most-quoted passages

The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 75 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. ““Abundant authority, with which we agree, holds that the Comptroller’s determination in the present area is not immunized from review by the exemption in the preface of § 1009, APA, reading, ‘Except so far as * * * agency action is by law committed to agency discretion.’ Any discretion vested in the Comptroller in passing upon applications for approval of bank branches is not the type of discretion to which action has been ‘committed by law’ but is rather one of the character expressly made reviewable by § 1009(e) (1). * * *” 352 F.2d at 270.”

   3 later decisions quote this exact passage · from the majority
   e.g. Pitts v. Camp · 345 F. Supp. 622 - Farmers National Bank of Annapolis v. Camp

2. ““First, approval of this application will meet the needs and promote the convenience of the Gastonia community and particularly the greater Gastonia-Gaston County area which applicant expects the branch to serve. While the primary service area of Wachovia’s proposed branch is heavily oriented toward the textile-apparel industry, this industry is well diversified in Gaston County, and has remained a more stable employer there than in other areas which also rely heavily on this industry. The textile industry is a basic industry whose products are used extensively by other industries, and it appears to represent the source of an increasing portion of the consumer goods demanded by rising living standards. The Comptroller, moreover, concludes that the economic outlook for the service area of Wachovia’s proposed branch is healthy, and may be expected to continue the stable economic and population expansion it has enjoyed in the past. Although the rate of deposit and loan growth predicted by Wachovia may be slightly optimistic, it is apparent that the existing $1 million in deposits, $8% million in loans, and $4.8 million in trust business already claimed by applicant within the service area projected for the new branch [footnote omitted] will provide a substantial and sound foundation for further growth and assure a profitable operation within a reasonable period of time. Indeed, this substantial existing business compels the conclusion that applicant already competes in large mea”

   1 later decision quote this exact passage · from the majority
   e.g. Citizens National Bank v. Wachovia Bank & Trust Co., N.A.

3. ““The conditions upon which a national banking association may retain or establish and operate a branch or branches are the following: * * * (c) A national banking association may, with the approval of the Comptroller establish and operate new branches: (1) Within the limits of the city, town or village in which said association is situated, if such establishment and operation are at the time expressly authorized to State banks by the law of the State in question; and (2) At any point within the State in which said association is situated, if such establishment and operation are at the time authorized to State banks by the statute law of the State in question by language specifically granting such authority affirmatively and not merely by implication or recognition, and subject to the restrictions as to location imposed by the law of the State on State banks.””

   1 later decision quote this exact passage · from the majority
   e.g. Hoosier State Bank of Indiana v. Saxon