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.
Appears in 3 contracts
Samples: Agreement and Plan of Merger (Grand Premier Financial Inc), Agreement and Plan of Merger (Merchants Bancorp Inc/De/), Old Kent Financial Corp /Mi/
Reserve for Loan Losses. The reserve for credit losses as reflected re- flected in Old Kent's Financial Statements as of December 31, 1998 was were (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 datethose dates, and (b) consistent with GAAP and safe and sound banking practices.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (Old Kent Financial Corp /Mi/), Agreement and Plan of Merger (CFSB Bancorp Inc)
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 datethose dates, and (b) consistent with GAAP and safe and sound banking practices.
Appears in 1 contract
Samples: Agreement and Plan of Merger (Old Kent Financial Corp /Mi/)
