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FARMERS BK. & TR. CO. v. DEPT. OF BKG.

No. 1523 C.D. 1978.

43 Pa.Commw. 325 (1979)

The Farmers Bank and Trust Company of Hummelstown, Petitioner v. Commonwealth of Pennsylvania, Department of Banking, Respondent.

Commonwealth Court of Pennsylvania.

June 11, 1979.

Attorney(s) appearing for the Case

Herbert A. Schaffner, with him Reynolds, Bihl and Schaffner, for petitioner.

Bonnie Jean McRobbie, Assistant Attorney Gen-with her John E. Nanorta, Assistant Attorney General, and Gerald Gornish, Acting Attorney General, for respondent.

Argued March 7, 1979, before President Judge BOWMAN and Judges WILKINSON, JR., MENCER, ROGERS, BLATT, DiSALLE and MacPHAIL. Judges CRUMLISH, JR. and CRAIG did not participate.

OPINION BY JUDGE MENCER, June 11, 1979:

The Department of Banking (Department), by order dated June 2, 1978, directed The Farmers Bank and Trust Company of Hummelstown (Farmers Bank) to reduce the interest rate applicable to 24 mortgages to the rate originally contracted, to continue that interest rate during the entire life of the loans, and to refund to the affected mortgagors any excess interest paid to the Farmers Bank. The Farmers Bank petitioned for review in...

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