The presence of a small credit union provides an additional source of banking services to the consumers in the market. In its advisory report on competitive effects, the U.S. Department of Justice concluded that the proposed transaction would not have a significantly adverse effect on competition. The Federal Reserve Bank of Minneapolis's Competitive Effects report concluded that the proposed transaction could have significantly anti-competitive effects, but advised that it did not consider all of the economic factors that may be relevant to the competitive effects of the proposed transaction. The Office of Thrift Supervision offered no comments and the Commissioner of Banking and Financial Institutions does not object to the proposal. Prudential Factors Stockman is in sound financial condition with adequate capital and satisfactory management.
Future prospects appear favorable.
Factor A customer of Western's Miles City branch filed a CRA protest, however, it was concluded that the issues raised are insubstantial and that Stockman's acquisition would not adversely impact the banking services of Miles City. The scope and convenience of banking services offered to the general public should not be significantly affected by the proposal. Stockman would provide no lesser amount of services than is currently offered by Western. That, until the proposed transaction becomes effective, the Corporation shall have the right to alter, suspend, or withdraw its approval should any interim development be deemed by the Board of Directors to warrant such action. Dated at Washington, D.C., this 18th day of April, 2000.