In consumer credit (non-auto): The Home Credit Companies, the HCC Credit Companies, the Franklin Finance Companies and the Franklin Credit Companies.
7. Wachovia’s December 31, 1969 resources (GX 71) were listed at $1,694,240,292; the total deposits of the bank were $1,328,706,574. As of ong all United States banks.
8. Wachovia operates 142 branch banking offices in over 50 North Carolina communities (GX 71, page A-8). It is the largest bank in the area. The State of North Carolina had 121 banks with 930 main or branch offices as of December 31, 1968 (GX 71, page A-8). Wachovia has a sizeable trust department and is subject to regulations of the Comptroller of the Currency and the laws of North Carolina and state authorities. It does not operate banking offices outside North Carolina.
10. NCNB Corporation, with headquarters in Charlotte, had December 31, 1969, bank deposits of $1,087,650,000 and total assets of $1,431,289,000 (GX 95); and First Union National Bancorp of Charlotte had bank deposits of $865,585,797 and total assets of $1,092,117,664 (GX 94). Both NCNB Corporation and First Union National Bancorp are one bank holding companies.
11. NCNB Corporation has recently acquired Factors, Inc., a factor with a 1969 volume of between $45,000,000 and $50,000,000. That company was bought to “meet the competition.” First Union National Bancorp has recently bought a factoring company, H. A. Caesar & Company, which had a 1969 volume of about $35,000,000. First Union intends to do factoring in North Carolina.
In addition to the bank, the defendant Wachovia owns a real estate title insurance company, a real estate mortgage company, a data processing company, an insurance agency and a courier service corporation
*635 12petition among Wachovia, NCNB Corporation and First Union National Bancorp is strong. All three have numerous branch banks in North Carolina. NCNB has 91 bank branches in 27 North Carolina cities (GX 95) and First Union has 132 bank branches in 63 North Carolina cities (GX 94). The three banks have competed among themselves and with other banking chains for the acquisition of small banks for a good many years.
13. Both Wachovia and American are sizeable financial institutions, and if combined their assets would exceed two billion dollars, and they would be larger than any financial institution in the South.
14. However, the absolute size of the present or the potentially combined institutions is not complained of, and does not appear to be a factor in the problem. More than twenty United States banks are larger than the two combined would be. The Bank of America is ten times as large. American Credit Company’s numerous offices in fourteen states other than North Carolina are not involved and would not be involved in any competition with any Wachovia branches in those states, because Wachovia is licensed to operate offices only in North Carolina. The commercial banking and the trust operations of Wachovia are not paralleled in any fashion by similar agencies of American; there is no suggestion of competition between the institutions in the realm of traditional commercial banking. Consideration of the gross corporate size of the defendants and the scope of their out-of-state operations is therefore not material.
Its principal subsidiary is the Wachovia Bank and Trust Company, N
15. The complaint alleges that the acquisition will violate the Clayton Act by reducing competition or eliminating or tending to eliminate potential competitors in “lines of commerce” including loans on automobiles, consumer lending other than automobile, factoring of accounts receivable, credit life insurance and equipment leasing; that “tying” effects will result and that other mergers will be encouraged. The “section of the country” is variously described as “in North Carolina” and “other sections of the country within payday loans AR North Carolina” and “other sections of the country.”