Trust Co and First National Bank Are Located in the Same

Trust Co. and First National Bank are located in the same city and each has assets of over $20 million. The president of First National has been asked to serve as a director of Trust Co. First National has no trust department and no trust operations. Trust Co. operates solely as a trust company. Would this relationship violate the prohibitions against management official interlocks in Regulation L?

A) Yes, because the institutions are in the same city.
B) No, because the institutions are not both depository institutions.
C) No, because the institutions do not compete.
D) Maybe, but it depends on the size of the institutions.