SUMMARY OF ANTITRUST ENFORCEMENT ACTIONS
FOR PUBLIC RELEASE
FOR MONDAY, MAR. 9, 1992 THROUGH FRIDAY, MAR. 13, 1992
U.S. v. Society Corporation and Ameritrust
Civil No.: l:92CV0525 (N.D. Ohio)
A civil complaint was filed in U.S. District Court in Cleveland,
Ohio, challenging the proposed merger of Society Corporation and
Ameritrust Corporation, two Cleveland, Ohio, bank holding companies.
At the same time, a proposed consent decree was filed which, if
approved by the court, will resolve the suit by requiring the
parties to divest 26 branch offices in Cuyahoga County and two
branch offices in Lake County and more than $1 billion in deposits
and more than $40 million in loans to small businesses in those
counties. The complaint alleges that the proposed acquisition
would violate Section 7 of the Clayton Act by substantially lessening
competition in business banking services, including business checking
accounts and commercial loans, for small business customers in
Cuyahoga and Lake counties.
Copies of legal filings are available from the Legal Procedure
Unit, Antitrust Division, Room 3233, Telephone No.: 514-2481.