CAMELS definition
Examples of CAMELS in a sentence
Notwithstanding any other provision of this Agreement to the contrary, this Agreement shall terminate immediately upon the Bank's composite CAMELS rating becoming 3 or worse.
During the term of this Agreement, the Executive shall be eligible to receive a performance-related bonus determined annually by the Board based on performance goals set annually by the Board (the “Performance-Related Bonus”); provided, however, that the Executive is only entitled to the Performance-Related Bonus if the Bank has a CAMELS rating of 1 or 2 for the year to which the Performance-Related Bonus relates.
Furthermore, 7 CAMELS ratings refer to the depository institution ratings of capital adequacy, asset quality, management, earnings, liquidity, and bank’s sensitivity to market risk assigned by the Prudential Regulators (and includes the CAMEL rating assigned by the NCUA).
Notwithstanding the foregoing, the Executive shall only receive a bonus if the Bank has a CAMELS rating of 1 or 2 for the year in which the bonus will be paid and the overall financial condition of the Bank, including its asset quality, will not be adversely affected by payment of such bonus.
In the event any governmental agency having jurisdiction over the Bank has declared the Bank to be troubled, critically undercapitalized, received a CAMELS rating of 5, willfully violating a Cease and Desist Order or operating in an unsafe or unsound manner, the Executive shall be given a first right to purchase the Annuity Contracts as defined in the Agreement.
On the Effective Date, (a) Superior Bank will have a CAMELS rating of at least “2” and a Compliance Rating and Community Reinvestment Act rating of at least “Satisfactory; and (b) the results of any regulatory exam of Buyer and Superior Bank will be reasonably satisfactory to Acquired Corporation.
The bonus amount shall be determined based on performance goals established by the Board of Directors of the Employer; provided, however, that the Executive shall only be entitled to an Annual Bonus if the Bank has a CAMELS rating of 1 or 2 for the year to which the Annual Bonus relates.
No performance bonus shall be earned in any year in which the Bank's composite C-A-M-E-L-S rating is less than "2".
The payment will be made in a lump sum on the ninety-fifth (95) day after Executive’s termination under this Section 4(b), provided that the Bank is rated CAMELS 1 or 2.
An annual bonus will be paid to the EMPLOYEE provided the CORPORATION maintains a "CAMELS" rating of 2 or better, and the CORPORATION achieves certain objectives.