Common use of Allowance for Loan Losses Clause in Contracts

Allowance for Loan Losses. Company’s allowance for loan losses as reflected in Company’s audited balance sheet at March 31, 2012 was, and the allowance shown on the balance sheets in Company Reports for periods ending after such date, in the opinion of management, was as of the dates thereof, in compliance with Company’s existing methodology for determining the adequacy of its allowance for loan losses as well as the standards established by applicable Governmental Authority, the Financial Accounting Standards Board and GAAP.

Appears in 2 contracts

Samples: Voting Agreement (Mayflower Bancorp Inc), Voting Agreement (Independent Bank Corp)

AutoNDA by SimpleDocs

Allowance for Loan Losses. The Company’s allowance for loan losses as reflected in Company’s audited balance sheet at March 31, 2012 2011 was, and the allowance shown on the balance sheets in Company Reports for periods ending after such date, in the opinion of management, was as of the dates thereof, in compliance with the Company’s existing methodology for determining the adequacy of its allowance for loan losses as well as the standards established by applicable Governmental Authority, the Financial Accounting Standards Board and GAAP.

Appears in 2 contracts

Samples: Voting Agreement (Central Bancorp Inc /Ma/), Agreement and Plan of Merger (Independent Bank Corp)

Allowance for Loan Losses. Company’s allowance for loan losses as reflected in Company’s audited balance sheet at March 31September 30, 2012 2013 was, and the allowance shown on the balance sheets in Company Reports for periods ending after such date, in the opinion of management, was as of the dates thereof, in compliance with Company’s existing methodology for determining the adequacy of its allowance for loan losses as well as the standards established by applicable Governmental Authority, the Financial Accounting Standards Board and GAAP, and is adequate under all such standards.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Peoples Federal Bancshares, Inc.), Agreement and Plan of Merger (Independent Bank Corp)

Allowance for Loan Losses. Company’s allowance for loan losses as reflected in Company’s audited balance sheet at March December 31, 2012 2015 was, and the allowance shown on the balance sheets in Company Reports financial statements for periods ending after such date, in the opinion of management, was as of the dates thereoftheir dates, in compliance with Company’s existing methodology for determining the adequacy of its allowance for loan losses as well as the standards established by applicable Governmental Authority, the Financial Accounting Standards Board and GAAP, and is adequate under all such standards.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Independent Bank Corp)

Allowance for Loan Losses. The Company’s allowance for loan losses as reflected in Company’s audited balance sheet at of March 31, 2012 was, and the allowance shown on the balance sheets in Company Reports for periods ending after such date, in the opinion of management, 2010 was as of the dates thereof, in compliance with the Company’s existing methodology for determining the adequacy of its allowance for loan losses as well as the standards established by applicable Governmental Authority, Entities and the Financial Accounting Standards Board and GAAPin all material respects.

Appears in 1 contract

Samples: Agreement and Plan of Merger (South Financial Group Inc)

AutoNDA by SimpleDocs

Allowance for Loan Losses. Company’s allowance for loan losses as reflected in Company’s audited balance sheet at March as of December 31, 2012 2017 was, and the allowance shown on the balance sheets in Company Reports financial statements for periods ending after such date, in the opinion reasonable judgment of management, was as of the dates thereoftheir dates, in compliance with Company’s existing methodology for determining the adequacy of its allowance for loan losses as well as the standards established by applicable Governmental Authority, the Financial Accounting Standards Board and GAAP, and is adequate under all such standards.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Independent Bank Corp)

Allowance for Loan Losses. Company’s allowance for loan losses as reflected in Company’s audited balance sheet at March December 31, 2012 2014 was, and the allowance shown on the balance sheets in Company Reports financial statements for periods ending after such date, in the opinion of management, was as of the dates thereof, in compliance with Company’s existing methodology for determining the adequacy of its allowance for loan losses as well as the standards established by applicable Governmental Authority, the Financial Accounting Standards Board and GAAP, and is adequate under all such standards.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Independent Bank Corp)

Allowance for Loan Losses. The Company’s allowance for loan losses as reflected in Company’s audited the latest balance sheet at March 31, 2012 included in the Audited Financial Statements was, and the allowance shown on the balance sheets in Company Reports for periods ending after such date, in the opinion of management, was as of the dates date thereof, in compliance with the Company’s existing methodology for determining the adequacy of its allowance for loan losses as well as the standards established by applicable Governmental Authority, the Financial Accounting Standards Board and GAAP.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Home Bancshares Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!