Common use of Source of Strength Clause in Contracts

Source of Strength. 1. The board of directors of Bankshares shall take appropriate steps to fully utilize Xxxxxxxxxx’s financial and managerial resources, pursuant to section 38A of the Federal Deposit Insurance Act (the “FDI Act”) (12 U.S.C. § 1831o-1) and section 225.4(a) of Regulation Y of the Board of Governors of the Federal Reserve System (the “Board of Governors”) (12 C.F.R. § 225.4(a)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with the Consent Order issued jointly by the Federal Deposit Insurance Corporation (“FDIC”) and the WVDFI dated November 10, 2015, and any other supervisory action taken by the Bank’s federal or state regulators.

Source of Strength. 1. The board of directors of Bankshares Covenant shall take appropriate steps to fully utilize XxxxxxxxxxCovenant’s financial and managerial resources, pursuant to section 38A of the Federal Deposit Insurance Act (the “FDI Act”) (12 U.S.C. § 1831o-1) and section 225.4(a) of Regulation Y of the Board of Governors of the Federal Reserve System (the “Board of Governors”) (12 C.F.R. § 225.4(a)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with the Consent Order issued jointly by the Federal Deposit Insurance Corporation (“FDIC”) and the WVDFI Department dated November 10March 25, 2015, and any other supervisory action taken by the Bank’s federal or state regulators.

Source of Strength. 1. The board of directors of Bankshares Mesquite shall take appropriate steps to fully utilize XxxxxxxxxxMesquite’s financial and managerial resources, pursuant to section 38A of the Federal Deposit Insurance Act Act, as amended (“the “FDI Act”) (12 U.S.C. § 1831o-1) and section 225.4(a) of Regulation Y of the Board of Governors of the Federal Reserve System (the “Board of Governors”) (12 C.F.R. § 225.4(a225.4 (a)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with the Consent Order issued jointly entered into by the Federal Deposit Insurance Corporation (the “FDIC”) and the WVDFI dated November 10Department on February 13, 20152017, and any other supervisory action taken by the Bank’s federal or state regulators.regulator. Dividends and Distributions