“ Security Trust, in 1960, had 'total assets of $21,033,000, total deposits of $17,402,000 and total net loans and discounts of $12,317,000.' Ibid.↑ The only contrary evidence, testimony of presidents of three of the four competing local banks who 'expressed considerable fear that the consolidation would result in serious loss to the other banks and would be disastrous to some of them,' 208 F.Supp., at 460, was discredited by the District Court. ”

“ Since commercial banks carry a large volume of demand deposits, their real estate loans are generally of a shorter duration than those offered by savings and loan associations or insurance companies.↑ The Federal Deposit Insurance Corp. ”

“ Philadelphia National Bank, 374 U.S. 321, 83 S.Ct. 1715, 10 L.Ed.2d 915, the 'factor of inconvenience' does indeed localize banking competition 'as effectively as high transportation costs in other industries.' 374 U.S., at 358, 83 S.Ct. at 1739, 10 L.Ed.2d 915. Practically all of the business of the banks in Lexington originates in Fayette County. Only 4.8% of First National's demand deposit accounts and 4.5% of Security Trust's were held by depositors who did not maintain offices in Lexington. In dollar volume the percentage was 2.8 for each bank. ”

“ The District Court, while agreeing that the Comptroller of the Currency's approval of the consolidation did not render it immune from challenge under the Sherman Act, [2] held that no violation of that Act had been shown. 208 F.Supp. 457. The case is here on direct appeal. 15 U.S.C. § 29. We noted probable jurisdiction. 374 U.S. 824, 83 S.Ct. 1864, 10 L.Ed.2d 1049.
We agree with the District Court that commercial banking is one relevant market [3] for determining the § 1 issue in the case. ”