Common use of Charge-Offs Clause in Contracts

Charge-Offs. Charge off loans and maintain its allowance for loan and lease losses, in each case in a manner in conformity with the prior practices of Keystone and the Bank and applicable industry, regulatory, and generally accepted accounting standards; provided, however, that the allowance for loan and lease losses shall not be less than 1.30% of total loans.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Firstbank Corp)

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Charge-Offs. Charge off loans and maintain its allowance for loan and lease losses, in each case in a manner in conformity with the prior practices of Keystone Home and the Home Bank and applicable industry, regulatory, and generally accepted accounting standards; provided, however, that the allowance for loan and lease losses shall not be less than 1.30% of total loans.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Old Kent Financial Corp /Mi/)

Charge-Offs. Charge off loans and maintain its allowance for loan and lease losses, in each case in a manner in conformity with the prior practices of Keystone Fidelity and the Bank and applicable industry, regulatory, and generally accepted accounting standards; provided, however, that the allowance for loan and lease losses shall not be less than 1.30% of total loans$1.7 million.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Dearborn Bancorp Inc /Mi/)

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Charge-Offs. Charge off loans and maintain its allowance for loan and lease losses, in each case in a manner in conformity with the prior practices of Keystone ICNB and the Bank and applicable industry, regulatory, and generally accepted accounting standards; provided, however, that the allowance for loan and lease losses shall not be less than 1.301.28% of total loans.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Firstbank Corp)

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