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Article: Farm Advocacy Group Opposes Wisconsin Bank Buyout.(Originated from The Wisconsin State Journal)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- July 26, 1996
- Author:
CopyrightCOPYRIGHT 1996 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Jul. 26--A Mount Horeb bank holding company should not be allowed to buy a Belleville bank, a farm advocacy group says, because the Mount Horeb bank has deliberately cut back on its lending to farmers.
The Wisconsin Rural Development Center is asking the Federal Reserve Bank of Chicago to deny a proposal by Country Bank Shares Corp., which owns State Bank of Mount Horeb and three other banks in the state, to acquire Belleville Bancshares Corp. of Belleville.
In a letter to the Federal Reserve Bank, Marv Kamp of the Rural Development Center says State Bank of Mount Horeb has violated the federal Community Reinvestment Act by "failing to meet the credit needs of ...