Reserve for Loan Losses. The reserve for credit losses as reflected in Old Kent's Financial Statements as of December 31, 1998 was (a) adequate in the reasonable opinion of management to meet all reasonably anticipated credit losses, net of recoveries related to assets previously charged off as of that date, and (b) consistent with GAAP and safe and sound banking practices.
Reserve for Loan Losses. Umpqua’s reserve for loan losses, as established from time to time, equals or exceeds the amount required of Umpqua and Umpqua Bank as determined (i) by internal policies and procedures of Umpqua and Umpqua Bank for determining the reserve for loan losses; (ii) by applicable SEC rules and guidance; (iii) by applicable bank regulatory agencies; and (iv) pursuant to GAAP. Since September 30, 2006, Umpqua has not reversed any provision taken for loan losses. Umpqua and the Umpqua Banks have properly accounted for all impaired loans in accordance with internal policies of Umpqua and the Umpqua Banks and in accordance with SFAS 114.
Reserve for Loan Losses. The reserve for credit losses as re- flected in Old Kent's Financial Statements were (a) adequate to meet all reasonably anticipated credit losses, net of recoveries related to assets previously charged off as of those dates, and (b) consistent with GAAP and safe and sound banking practices.
Reserve for Loan Losses. The allowance for losses on loans and real estate as reflected in CFSB's Financial Statements and Call Reports were and will be, as of their respective dates, (a) adequate to meet all reasonably anticipated loan and real estate losses, net of recoveries re- lated to assets previously charged off as of those dates, and (b) consis- tent with GAAP and safe and sound banking practices.
Reserve for Loan Losses. The reserve for loan and lease losses as reflected in First Evergreen's Financial Statements and Call Reports for the periods ended December 31, 1997 and March 31, 1998, were and will be, as of their respective dates, (a) adequate in the reasonable opinion of management to meet all reasonably anticipated loan and lease losses, net of recoveries related to loans previously charged off as of those dates, and (b) consistent with GAAP and safe and sound banking practices.
Reserve for Loan Losses. Prior to the Effective Date, and if requested as of December 31, 1997 if all regulatory approvals have been received and closing is anticipated early January 1998, Colonial Bank shall make a provision sufficient to increase its loan loss reserves to 1.75% of its outstanding loans. Any such provision shall not, however, be deemed a material adverse change to Colonial Bank's income or financial condition for purposes of Section 6.10, or otherwise form a basis for any breach or failure of condition and shall not serve as a basis for any assertion that the current reserve is inadequate.
Reserve for Loan Losses. WSB’s reserve for loan losses, as established from time to time, equals or exceeds the amount required of WSB and the WSB Banks as determined (i) by internal policies and procedures of WSB and the WSB Banks for determining the reserve for loan losses; (ii) by applicable SEC rules and guidance; (iii) by applicable bank regulatory agencies; and (iv) pursuant to GAAP. Since September 30, 2005, WSB has not reversed any provision taken for loan losses. WSB and the WSB Banks have properly accounted for all impaired loans in accordance with internal policies of WSB and the WSB Banks and in accordance with SFAS 114.
Reserve for Loan Losses. The Bank shall use its best efforts to maintain its allowance for loan losses at a level equal to at least 2.0% of total loans; provided, however, that if the allowance for loan losses is less than 2.0% of total loans on the business day immediately prior to the Closing Date, the Bank shall take all action necessary to increase the allowance for loan losses to an amount equal to 2.0% of total loans on such date.”
Reserve for Loan Losses. As of the last day of the calendar month immediately preceding the Closing Date, the reserve for loan losses of the Bank shall be an amount that is at least 2.0% of total loans as of such date.”
Reserve for Loan Losses. BOCC’s and BOC’s reserve for possible loan losses (the “Loan Loss Reserve”) has been established in conformity with GAAP, sound banking practices and, to the Best Knowledge of BOC and BOCC, all applicable requirements, rules and policies of the Commissioner and the FDIC and, in the best judgment of management and the Board of Directors of BOC, is reasonable in view of the size and character of BOC’s loan portfolio, current economic conditions and other relevant factors, and is adequate to provide for losses relating to or the risk of loss inherent in BOC’s loan portfolio and other real estate owned.
