FFSB definition
Examples of FFSB in a sentence
First Federal owns beneficially and of record all of the issued and outstanding equity securities of FFSB and FFSB owns beneficially and of record all of the issued and outstanding equity securities of each of Firstfedco and MCT.
No other shares of capital stock of FFSB are authorized, issued, reserved for issuance or outstanding.
FFSB (i) is duly authorized to conduct a general thrift business, in accordance with its charter, subject to the supervision of the OTS and other applicable regulatory authorities; (ii) is an insured savings bank as defined in the Federal Deposit Insurance Act; and (iii) has full power and authority (including all licenses, franchises, permits and other governmental authorizations which are legally required) to engage in the business and activities now conducted by it.
In addition, the Company has delivered to Texas United the unaudited consolidated balance sheet of the Company and its subsidiaries as of September 30, 2001, and unaudited bank only balance sheets and regulatory reports of condition of FFSB as of September 30, 2001 and the related unaudited statements of income for the nine-month period then ended.
FedFirst and FFSB shall adopt the necessary amendment(s) and board resolution(s) to effect the provisions of this Section 6.13.
Texas United agrees that the employees of FFSB who are bona fide participants in any of FFSB's health and welfare plans and who continue as employees of State Bank will be entitled to participate in all employee health and welfare plans maintained for employees of Texas United and State Bank in accordance with the terms of such plans.
True and complete copies of the Charter and Bylaws of FFSB, as amended to date, have been delivered to Texas United.
Notwithstanding the foregoing, the parties agree that prior to the merger of FFSB with and into State Bank, Texas United shall provide sufficient funds to FFSB to redeem, and shall cause FFSB to redeem, all of 87,263 outstanding shares of Noncumulative Voting Perpetual Preferred Stock, Series A, of FFSB (the "Series A Preferred Stock") in accordance with the terms of the Supplemental Section to the Charter of FFSB relating to such Series A Preferred Stock.
Except as disclosed in Schedule 2.2, FFSB has no subsidiaries or affiliates, owns no voting securities of any other corporation (other than readily marketable securities and stock of the Federal Home Loan Bank of Dallas), and is not a member of any joint venture or partnership.
Each FedFirst Subsidiary (other than FFSB) is a corporation, limited liability company or other legal entity as set forth on FedFirst Disclosure Schedule 4.2.3, duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation or organization.