Return on Average Assets. Borrower’s consolidated net income shall be at least eighty-five hundredths of one percent (0.85%) of its average assets, calculated on an annualized basis as at the last day of each fiscal quarter of Borrower; provided, however, that for purposes of determining return on average assets, customary and reasonable, non-recurring expenses and charges incurred by Borrower in connection with a permitted acquisition under Sections 5.1 and 5.6 hereof shall be excluded.
Return on Average Assets. Bank shall maintain an annualized return on Average Assets of at least .40% percent as of each Covenant Compliance Date until September 30, 2017, increasing to at least .45% as of each Covenant Compliance Date until September 30, 2018, and increasing to at least .50% as of each Covenant Compliance Date thereafter. In determining such annualized return, Bank’s earnings will be annualized using its year to date earnings.
Return on Average Assets. Bank shall maintain a return on Average Assets of at least 65/100 percent (0.65%) as of each Covenant Compliance Date. Bank’s earnings will be calculated on a rolling four-quarter basis. For purposes of the foregoing covenant, non-recurring Merger-related expenses may be added back to the Bank’s Net Income for a period of up to four (4) quarters following the closing of the Merger.
Return on Average Assets. The Borrower shall not permit the Bank’s annual Return on Average Assets at any time to be less than one percent (1.0%).
Return on Average Assets. Borrower's consolidated net income shall be at least seventy hundredths of one percent (0.70%) of its average assets, calculated on an annualized basis as at the last day of each fiscal quarter of Borrower.
Return on Average Assets. The Borrower on a consolidated basis will have at the end of each Fiscal Quarter a Return on Average Assets for such Fiscal Quarter and the previous three Fiscal Quarters of not less than an average of 0.50%, determined by taking the sum of the Return on Average Assets (adjusted for special restructuring, merger-related or other exceptional charges but excluding any special charges with respect to additional loan loss reserves or other loan quality deterioration) for each such Fiscal Quarter (as such figure is disclosed in the Borrower’s consolidated financial statements that are submitted to the Securities and Exchange Commission on Forms 10-K or 10-Q), divided by four (4).
Return on Average Assets. Bank shall maintain an annualized return on Average Assets of at least forty one hundredths of one percent (0.40%) as reported quarterly on an annualized basis for the quarters ending through and including December 31, 2010 and at least fifty one hundredths of one percent (.50%) as reported quarterly on an annualized basis for periods ending after December 31, 2010. For purposes of this covenant “total average assets” shall be deemed to mean the year-to-date average of total assets of Bank.
Return on Average Assets. Each Financial Institution Subsidiary will not permit at the end of each Fiscal Quarter its Return on Average Assets to be less than the following: Fiscal Quarter Minimum Return on Average Assets December 31, 2015 0.25%, annualized based only on fourth Fiscal Quarter results March 31, 2016 0.10% June 30, 2016 through and including September 30, 2016 0.35% December 31, 2016 through and including September 30, 2017 0.40% Fiscal Quarter Minimum Return on Average Assets December 31, 2017 through and including September 30, 2018 0.45% December 31, 2018 and thereafter 0.50%
Return on Average Assets. Borrower’s consolidated net income shall be at least eighty-five hundredths of one percent (0.85%) of its average assets, calculated on an annualized basis as at the last day of each fiscal quarter of Borrower; provided, however, that for purposes of determining return on average assets, customary and reasonable, non-recurring expenses and charges incurred by Borrower in connection with a permitted acquisition or public offering under Sections 5.1 and 5.6 hereof shall be excluded and, with respect to the fiscal quarter of the Borrower ending June 30, 2007, the net after tax effect of the addition to the Borrower’s reserve for loan losses of $11,555,000 made during such fiscal quarter shall be disregarded in calculating the Borrower’s consolidated net income.
Return on Average Assets. The Borrower will have, as of the end of each Fiscal Quarter, a Return on Average Assets for such Fiscal Quarter of not less than 0.30%.
