Spiro State Bank v. First Poteau Corp.

Spiro State Bank v. First Poteau Corp.
1999 OK 6
976 P.2d 1042
70 OBJ 471
Case Number: 92518
Decided: 02/01/1999
Mandate Issued: 03/25/1999
Supreme Court of Oklahoma

SPIRO STATE BANK and COMMUNITY BANKERS ASSOCIATION OF OKLAHOMA Petitioners,
v.
FIRST POTEAU CORPORATION, POTEAU STATE BANK and THE OKLAHOMA STATE BANKING BOARD, Respondents.

ORDER

¶1 After a hearing with all parties present, the court determines that petitioners' request for relief by mandamus should be granted. The undertaking posted by the petitioners, pursuant to

¶2 The posting of the §207(C) bond suspended the authority of the Oklahoma Banking Board and of the Commissioner of the Banking Department to enforce or implement the November 1, 1998 order approving application in Matter of the Combined Applications of First Poteau Corporation and Poteau State Bank, Poteau Oklahoma, for Interim Charter, Merger and Branch, No. 98-INCH-06. The Certificate of Authority issued [976 P.2d 1043] by the Commissioner on January 27, 1998 was hence unauthorized.

¶3 Let the writ issue directing the Board and the Commissioner to withdraw the January 27 Certificate of Authority within 5 days of this order's date. Rule 1.193 of the Oklahoma Supreme Court Rules.

HARGRAVE, V.C.J., LAVENDER, OPALA, ALMA WILSON, KAUGER and WATT, J.J., concurring.

SUMMERS, C.J. and HODGES, J., not voting.

SIMMS, J., absent.