Common use of Allowance for Loan and Lease Losses Clause in Contracts

Allowance for Loan and Lease Losses. (1) Immediately following the signing of this Agreement, the Board shall review the adequacy of the Bank's Allowance for Loan and Lease Losses (“Allowance”) and shall establish a program for the maintenance of an adequate Allowance. This program shall be designed to meet Generally Accepted Accounting Principles and regulatory guidance set forth in FAS 5, FAS 114, OCC Bulletin 2001-37, OCC Bulletin 2006-47, and the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:

Allowance for Loan and Lease Losses. (1) Immediately following Within sixty (60) days of the signing date of this Agreement, the Board shall review the adequacy of the Bank's ’s Allowance for Loan and Lease Losses (“Allowance”) and shall establish a program for the maintenance of an adequate appropriate Allowance. This review and program shall be designed to meet Generally Accepted Accounting Principles and regulatory guidance set forth in FAS 5, FAS 114, OCC Bulletin 2001-37, OCC Bulletin 2006-47, and the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:

Allowance for Loan and Lease Losses. (1) Immediately following Within sixty (60) days of the signing date of this Agreement, the Board shall review the adequacy of the Bank's ’s Allowance for Loan and Lease Losses (“Allowance”) and shall establish a program for the maintenance of an adequate Allowance. This review and program shall be designed to meet Generally Accepted Accounting Principles and regulatory guidance set forth in FAS 5, FAS 114, OCC Bulletin 2001-37, OCC Bulletin 2006-47, and the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:

Allowance for Loan and Lease Losses. (1) Immediately following the signing Within sixty (60) days of this Agreement, the Board shall review the adequacy of the Bank's ’s Allowance for Loan and Lease Losses (“Allowance”) and shall establish a program for the maintenance of an adequate appropriate Allowance. This review and program shall be designed to meet Generally Accepted Accounting Principles (“GAAP”) and regulatory guidance set forth in FAS 5, FAS 114, OCC Bulletin 2001-37, OCC Bulletin 2006-47, and the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors: