Allowance for Loan and Lease Losses. (1) Within sixty (60) days, 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors: (a) results of the Bank's internal loan review; (b) results of the Bank's external loan review; (c) an estimate of inherent loss exposure on each significant credit; (d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000); (e) loan loss experience; (f) trends of delinquent and nonaccrual loans; (g) concentrations of credit in the Bank; and, (h) present and prospective economic conditions. (2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance. (3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the program.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in that complies with OCC Bulletin 2006-47, Interagency Policy Statement on the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan reviewreview performed by account officers;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant creditcredit deemed impaired in accordance with FAS 114 requirements;
(d) an estimate of inherent historical loan loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000)experience that complies with FAS 5 requirements, including pools established for loans rated special mention and substandard;
(e) loan loss experience;
(f) trends of delinquent and nonaccrual loans;
(gf) concentrations of credit in the Bank; and,;
(hg) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the program.
(4) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the The Board shall within ninety (90) days 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty five thousand dollars ($250,0005,000);
(e) loan loss experience;
(f) trends of delinquent and nonaccrual loans;
(g) concentrations of credit in the Bank; and,
(h) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller ADC for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy ComptrollerADC, the Bank shall implement and adhere to the program.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, consistent with OCC Bulletin 2006-47 and shall focus particular attention on the following factors:
(a) results of the Bank's internal external loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each commercial real estate or criticized credit in excess of two one hundred fifty thousand dollars ($250,000100,000);
(ec) loan loss experience;
(fd) trends of delinquent and nonaccrual loans;
(ge) concentrations of credit in the Bank; and,
(hf) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the program.
(4) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet Losses Booklet of the Comptroller’s 's Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal or external loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,00050,000);
(ec) loan loss experience;
(fd) trends of delinquent and nonaccrual loans;
(ge) concentrations of credit in the Bank; and,
(hf) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, approval.
(4) The Board shall ensure that the Bank shall implement has processes, personnel, and adhere control systems to ensure implementation of and adherence to the programprogram developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the The Board shall review the adequacy of the Bank's Allowance for Loan and Lease Losses (“Allowance”) and shall shall, within ninety (90) days, establish a program for the maintenance of an adequate Allowance. This review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet Losses booklet, A-ALLL, of the Comptroller’s HandbookHandbook and OCC Banking Bulletin 2001-37 “Policy Statement on Allowance for Loan and Lease Losses Methodologies”, and shall focus particular attention on the following factors:
(a) results of the Bank's internal and/or external loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each problem credit in excess of two hundred fifty thousand Fifty Thousand dollars ($250,00050,000);
(ec) loan loss experience;
(fd) trends of delinquent and nonaccrual loans;
(ge) concentrations of credit in the Bank; and,;
(hf) present and prospective economic conditions.; and
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, approval.
(4) The Board shall ensure that the Bank shall implement has processes, personnel, and adhere control systems to ensure implementation of and adherence to the programprogram developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet Losses booklet, A-ALLL, of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two one hundred fifty thousand dollars ($250,000100,000);
(e) loan loss experience;
(f) trends of delinquent and nonaccrual loans;
(g) concentrations of credit in the Bank; and,
(h) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of the Board's program shall be submitted and adherence to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere program developed pursuant to the programthis Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet Losses booklet, A-ALLL, of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's any external or internal loan review;
(b) results an estimate of the Bank's external loan reviewinherent loss exposure on each credit over fifty thousand dollars ($50,000);
(c) an estimate of inherent loss exposure on each significant creditcredit on the problem loan and watch list regardless of amount;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000);
(e) loan loss experience;
(fe) trends of delinquent and nonaccrual loans;
(gf) concentrations of credit in the Bank; and,;
(hg) present and prospective economic conditions; and
(h) trends in loan growth.
(2) The program shall provide for a review of the Allowance by the Board at least once prior to the end of each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A Within five (5) days of its completion, a copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, .
(4) The Board shall ensure that the Bank shall implement has processes, personnel, and adhere control systems to ensure implementation of and adherence to the programprogram developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal external loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000);
(e) loan loss experience;
(fc) trends of delinquent and nonaccrual loans;
(gd) concentrations of credit in the Bank; and,
(he) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the program.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) daysdays of the date 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in OCC Bulletin 2001-37 and the “"Allowance for Loan and Lease Losses” " booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000);
(e) loan loss experience;
(fe) trends of delinquent and nonaccrual loans;
(gf) concentrations of credit in the Bank; and,
(hg) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the program.
(4) The Board shall be responsible for the Bank having the processes, personnel, and control systems in place necessary to implement and adhere to the program and systems developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the The Board shall review the adequacy of the Bank's ’s Allowance for Loan and Lease Losses (“Allowance”) and shall establish a enhance the Bank’s program for the maintenance of an adequate Allowance. This review and enhanced program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on include, but not be limited to, the following factors:
(a) results of the Bank's internal loan reviewlending officer-initiated downgrades;
(b) results of findings from the Bank's external ’s internal loan review;
(c) an estimate results of inherent loss exposure on each significant creditany applicable external loan review;
(d) an estimate adjusting historical loss ratios, through the use of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000)applicable qualitative factors, for classified and special mention loans;
(e) loan loss experience;
(f) trends of delinquent and nonaccrual loans;
(gf) concentrations of credit in the Bank; and,
(hg) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.
(4) Upon adoption, a copy of the Board's program shall be submitted forwarded to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the program.
Appears in 1 contract
Samples: Material Definitive Agreement (Mainstreet Bankshares Inc)
Allowance for Loan and Lease Losses. (1) Within sixty The Board shall, within ninety (6090) days, 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty five thousand dollars ($250,0005,000);
(e) loan loss experience;
(f) trends of delinquent and nonaccrual loans;
(g) concentrations of credit in the Bank; and,
(h) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller ADC for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy ComptrollerADC, the Bank shall implement and adhere to the program.
(4) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Compliance Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the Board shall review review, revise, and thereafter ensure Bank adherence to its written program designed to ensure the adequacy maintenance of the Bank's an adequate Allowance for Loan and Lease Losses (“Allowance”) and shall establish a program for the maintenance of an adequate Allowance). This review and The program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) analyses and support for the amount of FAS 114 impairment;
(b) analyses and support for the FAS 5 allocation;
(c) quarterly analysis and support of qualitative factors;
(d) results of the Bank's internal loan review;
(b) results of the Bank's and external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000)reviews;
(e) loan loss experience;
(f) trends of delinquent and nonaccrual loans;
(g) concentrations of credit in the Bank; and,
(h) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board within sixty (60) days and continue to provide for a review of the Allowance at least once each calendar quarterquarter thereafter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A Upon revision, a copy of the Board's program shall promptly be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, .
(4) The Board shall ensure that the Bank shall implement has processes, personnel, and adhere control systems to ensure implementation of and adherence to the programprogram developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, OCC Bulletin 2001-37, and OCC Bulletin 2006-47, and shall further ensure that the methodology for calculating the Allowance is consistent with Generally Accepted Accounting Principles (GAAP), and shall focus particular attention on the following factors:
(a) results trends of the Bank's internal loan reviewcriticized assets, and other asset quality indicators including delinquent and nonaccrual loans;
(b) results trends and volume of the Bank's external loan reviewCRE concentrations of credit;
(c) an estimate of inherent loss exposure on each significant creditpresent and prospective economic conditions;
(d) an estimate results of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000);loan reviews; and
(e) loan loss experience;
(f) trends of delinquent and nonaccrual loans;
(g) concentrations of credit in the Bank; and,
(h) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of the Board's program shall be submitted and adherence to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere program developed pursuant to the programthis Article.
Appears in 1 contract
Samples: Banking Compliance Agreement
Allowance for Loan and Lease Losses. (1) Within sixty ninety (6090) days, 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each criticized credit in excess of two hundred fifty thousand dollars ($250,000);
(e) loan loss experience;
(f) trends of delinquent and nonaccrual loans;
(g) concentrations of credit in the Bank; and,
(h) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the program.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the The Board shall continue to review the adequacy of the Bank's Allowance for Loan and Lease Losses (“Allowance”) and shall establish continue to maintain a program for the maintenance of an adequate Allowance. This review and program shall be designed in light of maintained consistent with the comments on maintaining a proper Allowance found in OCC Bulletin 2006-47: Allowance for Loan and Lease Losses (ALLL) (dated Dec. 13, 2006) and the attached “Interagency Policy Statement on the Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbookand “Questions and Answers on Accounting for Loan and Lease Losses”, and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000);
(e) loan loss experience;
(fe) trends of delinquent and nonaccrual loans;
(gf) concentrations of credit in the Bank; and,
(hg) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of the Board's program shall be submitted and adherence to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere program developed pursuant to the programthis Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's ’s internal loan review;
(b) results of the Bank's ’s external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred and fifty thousand dollars ($250,000);
(e) loan loss experience;
(f) trends of delinquent and nonaccrual loans;
(g) concentrations of credit in the Bank; and,;
(h) present and prospective economic conditions.; and
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's ’s program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the program.
(4) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet Losses booklet, A-ALLL, of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal external loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000);
(ec) loan loss experience;
(fd) trends of delinquent and nonaccrual loans;
(ge) concentrations of credit in the Bank; and,
(hf) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once prior to the end of each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A Within five (5) days of its completion, a copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, .
(4) The Board shall ensure that the Bank shall implement has processes, personnel, and adhere control systems to ensure implementation of and adherence to the programprogram developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the The Board shall review require the adequacy of the Bank's Allowance for Loan and Lease Losses (“Allowance”) and shall establish Bank to maintain a program for the maintenance of an adequate Allowance. This review Allowance for Loan and program shall be Lease Losses ("ALLL") that is designed in light of the comments on maintaining a proper Allowance ALLL found in the “FFIEC Interagency Policy Statement on the ALLL contained in OCC 2006-47 dated December 13, 2006, and the "Allowance for Loan and Lease Losses” " booklet of the Comptroller’s 's Handbook, and shall focus particular attention on address the following factorsfollowing:
(a) results internal risk ratings of the Bank's internal loan reviewloans;
(b) results of the Bank's external loan review;
(c) an estimate criteria for determining which loans will be reviewed under Financial Accounting Standard ("FAS") 114, how impairment will be determined, and procedures to ensure that the analysis of inherent loss exposure on each significant creditloans complies with FAS 114 requirements;
(d) criteria for determining FAS 5 loan pools and an estimate analysis of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000)those loan pools;
(e) recognition of non-accrual loans in conformance with GAAP and FFIEC policy;
(f) loan loss experience;
(fg) trends of delinquent and nonaccrual non-accrual loans;
(gh) concentrations of credit in the Bank; and,
(hi) present and prospective economic and market conditions.
(2) The program shall provide for a review of the Allowance ALLL by the Board at least once each calendar quarter. Any deficiency in the Allowance ALLL shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the AllowanceALLL.
(3) A copy of the Board's program program, and any subsequent revisions to the program, shall be submitted to the Assistant Deputy Comptroller Director for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, review.
(4) The Board shall ensure that the Bank shall has sufficient processes, personnel, and control systems to effectively implement and adhere to the programprogram developed pursuant to this Article.
Appears in 1 contract
Samples: Regulatory Compliance Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet Losses booklet, A-ALLL, of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two one hundred fifty thousand dollars ($250,000100,000);
(e) loan loss experience;
(f) trends of delinquent and nonaccrual loans;
(g) concentrations of credit in the Bank; and,
(h) present and prospective economic conditions.;
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of the Board's program shall be submitted and adherence to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere program developed pursuant to the programthis Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet Losses booklet, A-ALLL, of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,00050,000);
(e) loan loss experience;
(f) trends of delinquent and nonaccrual loans;
(g) concentrations of credit in the Bank; and,
(h) present and prospective economic conditions, both local and national.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, .
(4) The Board shall ensure that the Bank shall implement has processes, personnel, and adhere control systems to ensure implementation of and adherence to the programprogram developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) daysdays of the date 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in OCC Bulletin 2001-37 and the “"Allowance for Loan and Lease Losses” " booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;; 3 Refer to the Comptroller’s Handbook for Loan Portfolio Management (April 1998).
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000);
(e) loan loss experience;
(fe) trends of delinquent and nonaccrual loans;
(gf) concentrations of credit in the Bank; and,
(hg) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the program.
(4) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the The Board shall review immediately require and the adequacy of the Bank's Allowance for Loan Bank shall implement and Lease Losses (“Allowance”) and shall establish thereafter adhere to a program for the maintenance of an adequate AllowanceAllowance for Loan and Lease Losses ("ALLL"). This review and The program shall be designed in light of consistent with the comments on maintaining a proper Allowance ALLL found in the “Interagency Policy Statement on the ALLL contained in OCC Bulletin 2006-47 (December 13, 2006) and with "Allowance for Loan and Lease Losses” ," booklet A-ALLL of the Comptroller’s 's Handbook, and shall focus particular attention on incorporate the following factorsfollowing:
(a) results internal risk ratings of the Bank's internal loan reviewloans;
(b) results of the Bank's external independent loan review;
(c) an estimate criteria for determining which loans will be reviewed under Financial Accounting Standard ("FAS") 114, how impairment will be determined, and procedures to ensure that the analysis of inherent loss exposure on each significant creditloans complies with FAS 114 requirements;
(d) criteria for determining FAS 5 loan pools and an estimate analysis of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000)those loan pools;
(e) recognition of non-accrual loans in conformance with generally accepted accounting principles (“GAAP”) and regulatory guidance;
(f) loan loss experience;
(fg) trends of delinquent and nonaccrual non-accrual loans;
(gh) concentrations of credit in the Bank; and,
(hi) present and prospective projected economic and market conditions.
(2) The program shall provide for a review of the Allowance ALLL by the Board at least once each calendar quarter. Any deficiency in the Allowance ALLL shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating of the factors considered and conclusions reached by the Board in determining the adequacy of the AllowanceALLL and made available for review by Bank Examiners.
(3) A copy of the Board's program ALLL program, and any subsequent revisions to the program, shall be submitted to the Assistant Deputy Comptroller Director for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the programreview.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty ninety (6090) days, 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet Losses booklet, A-ALLL, of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000);
(e) loan loss experience;
(fe) trends of delinquent and nonaccrual loans;
(gf) concentrations of credit in the Bank; and,
(hg) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.
(4) Upon completion, a copy of the Board's program shall be submitted forwarded to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the programreview.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” Losses booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:’s
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000);
(e) loan loss experience;
(fe) trends of delinquent and nonaccrual loans;
(gf) concentrations of credit in the Bank; and,
(hg) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller Director for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, Special Supervision/Fraud for review.
(4) The Board shall ensure that the Bank shall implement has processes, personnel, and adhere control systems to ensure implementation of and adherence to the programprogram developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the Board shall review review, revise, and thereafter ensure Bank adherence to its written program to ensure the adequacy maintenance of the Bank's an adequate Allowance for Loan and Lease Losses (“Allowance”) and shall establish a program for the maintenance of an adequate Allowance). This review and An acceptable program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, Handbook and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred and fifty thousand dollars ($250,000);
(ed) loan loss experience;
(fe) trends of delinquent and nonaccrual loans;
(gf) concentrations of credit in the Bank; and,;
(hg) present and prospective economic conditions;
(h) appropriate treatment of classified loans pursuant to OCC Bulletin 2006- 47 – Allowance Guidance and Frequently Asked Questions on the ALLL;
(i) applicable requirements of the Accounting Standards Codification, include, ASC 450 and 310 (formerly FAS 5 and 114) and
(j) correction of any Allowance related deficiencies noted in the current or any future XXX.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A Upon revision, a copy of the Board's program shall promptly be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, .
(4) The Board shall ensure that the Bank shall implement has processes, personnel, and adhere control systems to ensure implementation of and adherence to this Article and the programprograms developed pursuant to it.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of dollars two hundred and fifty thousand dollars ($250,000);
(e) loan loss experience;
(f) trends of delinquent and nonaccrual loans;
(g) concentrations of credit in the Bank; and,
(h) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of the Board's program shall be submitted and adherence to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere program developed pursuant to the programthis Article.
Appears in 1 contract
Samples: Banking Compliance Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal external loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000);
(ec) the bank’s loan loss experiencehistory;
(fd) trends of delinquent and nonaccrual loans;
(ge) concentrations of credit in the Bank; and,
(hf) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the program.
(4) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty ninety (6090) daysdays of the 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 develop and approve enhancements to the Bank’s program for the maintenance of an adequate Allowance. This review and program The Board’s enhancements shall be designed in light of to incorporate the comments guidance on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s HandbookHandbook and in OCC Bulletin 2006-47, and shall focus particular attention on include, but not be limited to, the following factors:
(a) results of the Bank's internal loan reviewlending officer initiated downgrades;
(b) results of findings from the Bank's external ’s internal loan review;
(c) an estimate results of inherent loss exposure on each significant creditany applicable external loan review;
(d) an estimate adjusting historical loss ratios, through the use of inherent loss exposure on each credit applicable qualitative factors, for classified and special mention loans to include:
(i) documenting these adjustments, including any adjustments made for trends in excess of two hundred fifty thousand dollars ($250,000)adversely rated loans;
(eii) determining a consistent method for preparing a loss history factor for individual loan loss experience;segments; and
(fiii) determining a loss factor for loans assigned a Doubtful rating.
(e) trends of delinquent and nonaccrual loans;
(gf) concentrations of credit in the Bank; and,
(hg) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained in the minutes of the Board’s meetings indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A Upon adoption, a copy of the Board's program shall be submitted forwarded to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the program.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the The Board shall review the adequacy of the Bank's Allowance for Loan and Lease Losses (“Allowance”) and in consideration of the findings identified within the XXX.
(2) The Board shall establish a program for the maintenance of an adequate Allowance. This review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet Losses booklet, A-ALLL, of the Comptroller’s Handbook, Handbook and OCC Bulletin 2001-37 and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(dc) an estimate loan loss experience for each homogeneous pool of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000)loans;
(e) loan loss experience;
(fd) trends of delinquent and nonaccrual loans;
(ge) concentrations of credit in the Bank; and,;
(hf) present and prospective economic conditions; and
(g) findings identified with the XXX.
(23) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(34) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, .
(5) The Board shall ensure that the Bank shall implement has processes, personnel, and adhere control systems to ensure implementation of and adherence to the programprogram developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit graded Substandard or Doubtful in excess of two hundred fifty thousand dollars ($250,00050,000);
(ed) loan loss experience;
(fe) trends of delinquent and nonaccrual loans;
(gf) concentrations of credit in the Bank; and,;
(hg) present and prospective economic conditions; and
(h) trends in loan growth or product mix changes.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of the Board's program shall be submitted and adherence to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere program developed pursuant to the programthis Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet Losses booklet, A-ALLL, of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on for each significant creditcredit in excess of one hundred thousand dollars ($100,000);
(d) an estimate of inherent loan loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000)experience, especially experience for problem credits;
(e) loan loss experience;
(f) trends of delinquent and nonaccrual loans;
(gf) concentrations of credit in the Bank; and,;
(hg) present and prospective economic conditions, including evaluation of whether recent loss trends for non-problem credits are representative of historic norms, and
(h) the effect of credit administration and underwriting standards on loss exposure.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports Report of Condition and IncomeCondition, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, approval.
(4) The Board shall ensure that the Bank shall implement has processes, personnel, and adhere control systems to ensure implementation of and adherence to the programprogram developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the The Board shall review the adequacy of the Bank's Allowance for Loan and Lease Losses (“Allowance”) and in consideration of the findings identified within the ROE.
(2) The Board shall establish a program proxxxm for the maintenance of an adequate Allowance. This review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet Losses booklet. A-ALLL, of the Comptroller’s Handbook, 's Handbook and OCC Bulletin 2001-37 and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(dc) an estimate loan loss experience for each homogeneous pool of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000)loans;
(e) loan loss experience;
(fd) trends of delinquent and nonaccrual loans;
(ge) concentrations of credit in the Bank; and,;
(hf) present and prospective respective economic conditions; and
(g) findings identified with the ROE.
(23) The program shall provide for a review xxview of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(34) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, .
(5) The Board shall ensure that the Bank shall implement has processes, personnel, and adhere control systems to ensure implementation of and adherence to the programprogram developed pursuant to this Article.
Appears in 1 contract
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “OCC Bulletin 2001-37, "Policy Statement on Allowance for Loan and Lease Losses” booklet Losses Methodology and Documentation for Banks and Savings Institutions", and the Allowance for Loan and Lease Losses booklet, A-ALLL, of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal problem loan reviewidentification;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant criticized or nonperforming credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,00050,000);
(e) loan loss experienceexperience by type of loan, based on a reasonable period of historical performance;
(f) trends of delinquent and nonaccrual loans;
(g) concentrations of credit in the Bank; and,;
(h) present and prospective economic conditions;
(i) changes in loan underwriting and management personnel; and
(j) a comprehensive evaluation of the bank’s indirect loan portfolio.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior a written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, .
(4) The Board shall ensure that the Bank shall implement has processes, personnel, and adhere control systems to ensure implementation of and adherence to the programprogram developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Compliance Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 in light of the comments on maintaining a proper Allowance found in the OCC Bulletin 2006-47, “Allowance for Loan and Lease Losses: Guidance and Frequently Asked Question” booklet of including the Comptroller’s Handbook, “Interagency Policy Statement on the Allowance for Loan and Lease Losses,” and shall focus particular attention on the following factors:
(a) results of the Bank's internal ’s external loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant creditcredit consistent with FAS 114;
(c) loan loss experience consistent with FAS 5;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000);
(e) loan loss experience;
(f) trends of delinquent and nonaccrual loans;
(ge) concentrations of credit in the Bank; and,
(hf) present and prospective economic conditionsconditions and other qualitative factors.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's ’s program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a written determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the program.
(4) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000);
(e) loan loss experience;
(f) trends of delinquent and nonaccrual loans;
(g) concentrations of credit in the Bank; and,;
(h) present and prospective economic conditions.; and
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the program.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal external loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000);
(e) loan loss experience;
(fc) trends of delinquent and nonaccrual loans;
(gd) concentrations of credit in the Bank; and,;
(he) present and prospective economic conditions; and
(f) problem loan identification.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the program.
(4) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Compliance Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in that complies with OCC Bulletin 2006-47, Interagency Policy Statement on the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's ’s internal loan review;,
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred one hundred-fifty thousand dollars ($250,000150,000);
(e) loan loss experience;
(f) trends of delinquent and nonaccrual loans;
(g) concentrations of credit in the Bank; and,
(h) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the program.
(4) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty The Board shall make a minimum provision to the Allowance for Loan and Lease Losses (60Allowance) daysof six hundred fifty thousand dollars ($650,000) as of March 31, the 2002.
(2) 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet Losses booklet, A-ALLL, of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal and external loan reviewreviews;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000);
(ec) loan loss experience;
(fd) trends of delinquent and nonaccrual loans;
(ge) concentrations of credit in the Bank; and,;
(hf) present and prospective economic conditions;
(g) capabilities of and changes in the lending staff;
(h) changes in loan volume and/or mix;
(i) the volume of out-of-area lending; and
(j) estimates of loss potential for individual credits based on net realizable liquidation values of collateral.
(23) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(34) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, .
(5) The Board shall ensure that the Bank shall implement has processes, personnel, and adhere control systems to ensure implementation of and adherence to the programprogram developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty ninety (6090) days, 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000);
(e) loan loss experience;
(f) trends of delinquent and nonaccrual loans;
(g) concentrations of credit in the Bank; and,
(h) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the program.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty ninety (6090) days, the Board shall review ensure Bank adherence to its written program designed to ensure the adequacy maintenance of the Bank's an adequate Allowance for Loan and Lease Losses (“Allowance”) and shall establish a program for the maintenance of an adequate Allowance). This review and The program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) analyses and support for the amount of FAS 114 impairment;
(b) analyses and support for the FAS 5 allocation;
(c) quarterly analysis and support of qualitative factors;
(d) results of the Bank's internal loan review;
(b) results of the Bank's and external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000)reviews;
(e) loan loss experience;
(f) trends of delinquent and nonaccrual loans;
(g) concentrations of credit in the Bank; and,
(h) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board by December 31, 2009 and at least once each calendar quarterquarter thereafter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A Upon revision, a copy of the Board's program shall be submitted maintained in the Bank and available for inspection by OCC examiners.
(4) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere program developed pursuant to the programthis Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 Allowanceappropriate Allowance balance. This review and program shall be designed in light of the comments on maintaining a proper the Allowance found in the conformance with OCC Bulletin #2006-47 – “Allowance for Loan and Lease Losses” booklet of Losses (ALLL): Guidance and Frequently Asked Questions on the Comptroller’s HandbookALLL”, and shall focus particular attention on the following factors:
a. loans considered to be impaired under Statement of Financial Accounting Standard (aFAS) results #114 including an analysis of each loan with documentation of the Bank's internal loan reviewimpairment;
(b) results b. identification of the Bank's external loan reviewhomogenous pools of loans for analysis under FAS #5;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000);
(e) c. loan loss experience;
(f) d. trends of delinquent and nonaccrual loans;
(g) e. concentrations of credit in the Bank; and,credit;
(h) f. present and prospective economic conditions; and
g. staffing levels, adequacy of policies, and any other factor impacting the level of credit risk in the loan portfolio.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the BoardBank's program quarterly Allowance shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, .
(4) The Board shall ensure that the Bank shall implement has processes, personnel, and adhere control systems to ensure implementation of and adherence to the programprogram developed pursuant to this Article XII.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 review and program shall be designed in light of the comments follow guidelines on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” Losses booklet of the Comptroller’s 's Handbook, A-ALLL, and shall focus particular attention on the following factors:
(a) results of the Bank's internal loan review;
(b) results of the Bank's external loan review;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000);
(e) loan loss experience;
(fe) trends of delinquent and nonaccrual loans;
(gf) concentrations of credit in the Bank; and,;
(hg) present and prospective economic conditions; and
(h) written documentation of peer group data and written analysis of the soft factors noted in the Allowance for Loan and Lease Losses booklet of the Comptroller's Handbook, A-ALLL.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in for the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and IncomeIncome for that quarter, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, review.
(4) The Board shall ensure that the Bank shall implement has processes, personnel, and adhere control systems to ensure implementation of and adherence to the programplan developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
Allowance for Loan and Lease Losses. (1) Within sixty (60) days, the 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 review and program shall be designed in light of the comments on maintaining a proper Allowance found in the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall focus particular attention on the following factors:
(a) results of the Bank's internal external loan review;
(b) results the requirements of the Bank's external loan reviewFinancial Accounting Standards (FAS) 5 and FAS 114;
(c) an estimate of inherent loss exposure on each significant credit;
(d) an estimate of inherent loss exposure on each credit in excess of two hundred fifty thousand dollars ($250,000);
(e) loan loss experience;
(fd) trends of delinquent and nonaccrual loans;
(ge) concentrations of credit in the Bank; and,
(hf) present and prospective economic conditions.
(2) The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3) A copy of the Board's program shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the program.
(4) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.
Appears in 1 contract
Samples: Banking Agreement
