ALLL. At all times after the date the hereof and through and until the Closing Date, maintain the ALLL account for Provident State Bank in an amount adequate in all material respects and consistent with past practices and in compliance with applicable regulatory requirements, including GAAP and RAP.
ALLL. All reserves for loan losses shown on the most recent financial statements furnished by River Financial have been calculated in accordance with GAAP and prudent and customary banking practices and are adequate in all material respects to reflect the risk inherent in the loans of River Financial. River Financial has no Knowledge of any fact which is likely to require a future material increase in the provision for loan losses or a material decrease in the loan loss reserve reflected in such financial statements.
ALLL. All allowances for credit losses shown on the most recent financial statements furnished by CBB have been calculated in accordance with GAAP and prudent and customary banking practices and are adequate in all material respects to reflect the risk inherent in the loans of CBB. CBB has no Knowledge of any fact that is likely to require a future material increase in the provision for credit losses or a material decrease in the credit loss allowances reflected in such financial statements.
ALLL. All reserves for loan losses shown on the most recent financial statements furnished by Trinity have been calculated in accordance with GAAP and prudent and customary banking practices and are adequate in all material respects under GAAP to reflect the risk inherent in the loans of Trinity. Trinity has no Knowledge of any fact which is likely to require a future material increase in the provision for loan losses or a material decrease in the loan loss reserve reflected in such financial statements.
ALLL. Section 6.3(i) of the Agreement is amended to provide as follows: “(i) The Bank’s ALLL as of the Closing Date shall be greater than or equal to two million two hundred thousand dollars ($2,200,000) after giving effect to the Loan Transfer.”
ALLL. In the reasonable judgment of Alterra Bank, the allowance for loan and lease losses (“ALLL”) shown on the March 31, 2014 Call Report filed for Alterra Bank is in compliance with GAAP and adequate to provide for estimated loan losses, net of recoveries relating to loans previously charged off, on loans outstanding as of March 31, 2014. In the reasonable judgment of Seller, the ALLL on the consolidated balance sheet of the Seller as of March 31, 2014 is in compliance with GAAP and adequate to provide for estimated loan losses, net of recoveries relating to loans previously charged off, on consolidated loans outstanding as of March 31, 2014.
ALLL. In the reasonable judgment of Union, the allowance for loan and lease losses (“ALLL”) shown on the December 31, 2014 Call Report filed for Union is in compliance with GAAP and adequate to provide for estimated loan losses, net of recoveries relating to loans previously charged off, on loans outstanding as of December 31, 2014. In the reasonable judgment of Seller, the ALLL on the consolidated balance sheet of the Seller as of December 31, 2014 is in compliance with GAAP and adequate to provide for estimated loan losses, net of recoveries relating to loans previously charged off, on consolidated loans outstanding as of December 31, 2014.
ALLL. All reserves for loan losses shown on the most recent financial statements furnished by PSB have been calculated in accordance with GAAP and prudent and customary banking practices and are adequate in all material respects to reflect the risk inherent in the loans of PSB. PSB has no Knowledge of any fact which is likely to require a future material increase in the provision for loan losses or a material decrease in the loan loss reserve reflected in such financial statements.
ALLL. All reserves for loan losses shown on the most recent financial statements furnished by SSB have been calculated in accordance with GAAP and prudent and customary banking practices and are adequate in all material respects to reflect the risk inherent in the loans of Southern States Bank. SSB has no Knowledge of any fact which is likely to require a future material increase in the provision for loan losses or a material decrease in the loan loss reserve reflected in such financial statements.
ALLL. All reserves for loan losses shown on the most recent financial statements furnished by East Alabama have been calculated in accordance with GAAP and prudent and customary banking practices and are adequate in all material respects to reflect the risk inherent in the loans of East Alabama. East Alabama has no Knowledge of any fact which is likely to require a future material increase in the provision for loan losses or a material decrease in the loan loss reserve reflected in such financial statements.
