Peoples Financial Statements definition

Peoples Financial Statements means (i) the consolidated balance sheets (including related notes and schedules) of Peoples as of March 31, 2007 (unaudited) and December 31, 2006 (audited), and the related statements of income, changes in shareholders’ equity, and cash flows (including related notes and schedules) for the three (3) months ended March 31, 2007 (unaudited) and the year ended December 31, 2006 (audited), as delivered by Peoples to BancTrust, and (ii) the consolidated balance sheets of Peoples (including related notes and schedules, if any) and related statements of income, changes in shareholders’ equity, and cash flows (including related notes and schedules, if any) delivered by Peoples to BancTrust with respect to periods ending subsequent to March 31, 2007.

Peoples Financial Statements means (i) the unaudited balance sheet and income statement of Peoples as of September 30, 1996 and the audited balance sheets as of December 31, 1995 and 1994 and the related statements of cash flows and changes in shareholders' equity (including related notes, if any) and the income statements for each of the three years ended December 31, 1995, 1994 and 1993 and (ii) the balance sheets of Peoples and related statements of income (including statements of cash flows and changes in shareholders' equity and related notes, if any) with respect to quarterly or annual periods ended subsequent to September 30, 1996; except that financial statements as of, or for the nine months ended, September 30, 1996 are contained in a revised Call Report to be filed in November or December, 1996, and have been prepared in accordance with generally accepted accounting principles in all material respects, except that such financial statements do not contain statements of cash flows or changes in shareholders' equity or footnotes and are subject to normal year-end adjustments.

Peoples Financial Statements means (i) the consolidated statements of condition (including related notes and schedules, if any) of Peoples as of June 30, 1999, 1998 and 1997 and the consolidated statements of income, retained income and cash flows (including related notes and schedules, if any) of Peoples for each of the three years ended June 30, 1999, 1998 and 1997, and (ii) the consolidated statements of condition of Peoples (including related notes and schedules, if any) and the consolidated statements of income, retained income and cash flows (including related notes and schedules, if any) of Peoples with respect to the periods ended subsequent to June 30, 1999.

Examples of Peoples Financial Statements in a sentence

• As of the date of this Agreement, there is no audit examination, deficiency, or refund Litigation with respect to any Taxes, except as reserved against in the Peoples Financial Statements delivered prior to the date of this Agreement or as Previously Disclosed.

• Except as Previously Disclosed or as disclosed or reserved against in the Peoples Financial Statements, the Peoples Companies have good and indefeasible title, free and clear of all Liens, to all of their respective Assets that are Material to the business of the Peoples Companies.

• Based on its pro forma analysis of its financial condition following the Merger, assuming the Merger occurred as of the date of this Agreement and in reliance on the Peoples Financial Statements, BancTrust believes, and has received confirmation from reliable sources, that as of the date of this Agreement BancTrust qualifies for Suitable Financing.

• The allowance for loan losses reflected on the Peoples Financial Statements, as of their respective dates, is adequate in all material respects under the requirements of generally accepted accounting principles to provide for reasonably anticipated losses on outstanding loans.

• Peoples has delivered or made available to BancTrust prior to the execution of this Agreement copies of all Peoples Financial Statements for periods ended March 31, 2007 and December 31, 2006 and will deliver or make available to BancTrust copies of all Peoples Financial Statements prepared subsequent to the date hereof.

• Preparation and filing of the Registration Statement and Proxy Statement shall be at the sole cost and expense of Integra, except that Peoples shall be solely responsible for the costs and expenses, including fees of Peoples’ accountants and legal counsel, related to preparation and review of Peoples Financial Statements and Peoples information required to be presented in the Registration Statement and the costs of printing and mailing the Proxy Statement to Peoples shareholders.

• A majority vote by the sponsor shall be required to adopt or modify the administrative law judge’s recommended order.

• The Subsequent Peoples Financial Statements will be prepared on a basis consistent with past accounting practices and GAAP (to the extent applicable) and shall present fairly the financial condition and results of operations as of the dates and for the periods presented (except in the case of unaudited financial statements or Call Report information for the absence of notes and/or year‑end adjustments).

• Peoples has established, and shall establish in the Subsequent Peoples Financial Statements (as hereinafter defined in Section 5.10), in accordance with GAAP, a reserve for taxes in the Peoples Financial Statements adequate to cover all of Peoples’ and its Subsidiaries tax liabilities (including, without limitation, income taxes, payroll taxes and withholding, and franchise fees) for the periods then ending.

• Peoples has established, and shall establish in the Subsequent Peoples Financial Statements (as hereinafter defined), in accordance with GAAP, a reserve for taxes in the Peoples Financial Statements adequate to cover all of Peoples and its Subsidiaries tax liabilities (including, without limitation, income taxes, payroll taxes and withholding, and franchise fees) for the periods then ending.

More Definitions of Peoples Financial Statements

Peoples Financial Statements means