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U.S. Department of Justice Seal and Letterhead
  March 16, 1992


SUMMARY OF ANTITRUST ENFORCEMENT ACTIONS
FOR PUBLIC RELEASE
FOR MONDAY, MAR. 9, 1992 THROUGH FRIDAY, MAR. 13, 1992


3/13/92

U.S. v. Society Corporation and Ameritrust Corporation
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.

92-089