VBFI definition
Examples of VBFI in a sentence
The Bank meets or exceeds the standards necessary to be considered “well capitalized” under the FDIC’s regulatory framework for prompt corrective action and is in compliance with all minimum capital adequacy requirements of the FDIC and the VBFI, as applicable.
During the period in which the Prospectus is required to be delivered, each of the Company and the Bank will conduct its respective business in compliance in all material respects with all applicable federal and state laws, rules, regulations, decisions, directives and orders, including all decisions, directives and orders of the Commission, the Federal Reserve Board, the VBFI, and the FDIC.
WFBI and FP Holdings shall have received any required approval of the transactions contemplated by this Agreement from the Federal Reserve Board, the VBFI, the SCC and any other federal or state regulatory agencies whose approval is required for consummation of such transactions (including those relating to mortgage banking, brokerage or lending activities), and all notice and waiting periods after the granting of any such approval shall have expired.
Before the transactions contemplated in the merger agreement can be completed, various approvals must be obtained from the Federal Reserve Board and the VBFI.
These approvals include approvals from the Federal Reserve Board in connection with the merger, and the Federal Reserve Board and the VBFI connection with the bank merger.
The Company and the Bank are in compliance in all material respects with all laws administered by VBFI, the Federal Reserve Board, the Federal Deposit Insurance Corporation (the “FDIC”) and any other federal authorities (together with the VBFI, the Federal Reserve Board, and the FDIC, the “Bank Regulatory Authorities”) with jurisdiction over the Company and the Bank, except for failures to be so in compliance that would not, individually or in the aggregate, have a Material Adverse Effect.
WFBI shall have received approval of the transactions contemplated by this Agreement from the Federal Reserve Board, the VBFI, the SCC and any other federal or state regulatory agencies whose approval is required for consummation of such transactions (including those relating to mortgage banking, brokerage or lending activities), and all notice and waiting periods after the granting of any such approval shall have expired.
First National and or First Bank, as applicable, filed the applications with the Federal Reserve Board and with the VBFI on or about May 24, 2024.
As of the date of this joint proxy statement/prospectus, the VBFI had not granted its approval.
It is possible that other regulatory agencies, such as the VBFI, could adopt similar expectations for applicants.