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STAFFORD STATE BANK v. SCHAUB

143 N.J. Super. 145 (1976)

362 A.2d 1209

STAFFORD STATE BANK, A PROPOSED BANKING CORPORATION OF THE STATE OF NEW JERSEY, APPELLANT, v. RICHARD F. SCHAUB, COMMISSIONER, STATE OF NEW JERSEY, DEPARTMENT OF BANKING, RESPONDENT, AND CITIZENS STATE BANK OF NEW JERSEY, A BANKING CORPORATION OF THE STATE OF NEW JERSEY, APPELLANT, v. RICHARD F. SCHAUB, COMMISSIONER, STATE OF NEW JERSEY, DEPARTMENT OF BANKING, RESPONDENT. IN THE MATTER OF THE APPLICATION OF THE BAY STATE BANK FOR A NEW BANK CHARTER TO BE LOCATED BETWEEN 15TH AND 16TH STREETS ON THE NORTHWEST SIDE OF LONG BEACH BOULEVARD, BOROUGH OF SHIP BOTTOM, COUNTY OF OCEAN, STATE OF NEW JERSEY.

Superior Court of New Jersey, Appellate Division.

Decided July 9, 1976.

Attorney(s) appearing for the Case

Mr. E. Robert Levy and Mr. Michael E. Levin argued the cause for appellant Stafford State Bank (Messrs. Marcus, Rosen, Breslow, Levy, Jaffe & Fiorello and Messrs. Matthews, Levin & Shea, attorneys).

Mr. Steven S. Radin argued the cause for objector-appellant Beach Haven National Bank and Trust Company, (Messrs. Sills, Beck, Cummis, Radin & Tishman, attorneys).

A brief was filed on behalf of objector-appellant Citizens State Bank by Mr. Malcolm S. Zlotkin (Messrs. Shackleton, Hazeltine & Zlotkin, attorneys).

Mr. T. Robert Zochowski argued the cause for applicant, Bay State Bank.

Mr. Michael E. Goldman, Deputy Attorney General, argued the cause for respondent Commissioner of Banking, State of New Jersey (Mr. William F. Hyland, Attorney General of New Jersey, attorney; Mr. Stephen Skillman, Assistant Attorney General, of counsel).

Before Judges MATTHEWS, LORA and MORGAN.

PER CURIAM.

This appeal concerns primarily the procedural entanglements and consequences thereof resulting from the competitive attempts of two banks to establish themselves as newly chartered home office banks serving essentially the same trade area. At issue is the concept of "priority" and the effect thereof on the disposition of competing applications for bank charters. Also involved, however, is the propriety of considering the consequences of so-called "home...

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