United States Supreme Court Cases & Opinions

U.S. Supreme Court

First Security Nat. Bank v. United States, 382 U.S. 34 (1965)

First Security National Bank & Trust Co.

of Lexington v. United States

No. 141

Decided October 18, 1965

382 U.S. 34

Syllabus

This Court held that the bank merger resulting in appellant bank's formation violated the Sherman Act and remanded the case to the District Court "for further proceedings in conformity with the opinion of this Court." ( 365 U. S. 376 U.S. 665.) After several postponements of the date set by the District Court for reporting progress "in complying with the mandate of the Supreme Court," the parties presented a proposed interlocutory decree providing for submission of a detailed divestiture plan in six months. The District Court thereupon held appellant bank and its officers in contempt for failure to comply with this Court's mandate.

Held: Since divestiture was not ordered within any specific period, appellants did not violate this Court's judgment.

Reversed.