Bank Regulation Clause Samples

Bank Regulation. Notwithstanding anything to the contrary in this Agreement, Macatawa’s obligations hereunder shall be subject to any applicable banking regulations or orders by regulatory agencies that would prohibit the Designee from serving on the board (or on any committee of such board) of Macatawa or the Bank. Should such a regulatory issue arise, Macatawa will use its reasonable best efforts to resolve the issue to the reasonable satisfaction of White Bay.

Bank Regulation. 8 SECTION 4.

Bank Regulation. Immediately following the Closing, Buyer shall not, by virtue of Seller's ownership of Buyer Common Stock or Seller's right to designate directors to the Board of the Buyer, be subject to any regulations applicable to banks or bank holding companies which would require the Buyer or any of its affiliates to cease conducting any business or activity then being conducted by such Person or to take or omit to take any action which act or omission would be adverse to the business of Buyer.

Bank Regulation. From and after the Closing Date, neither Seller nor any of its affiliates will enter into any agreement with any regulatory authority which would require the Buyer or any subsidiary of Buyer to cease conducting any business or activity then being conducted by such Person.

Bank Regulation. Heritage Southeast Bank will operate as a state bank incorporated under the laws of the State of Georgia and thus is subject to examination by the Georgia Department of Banking and Finance and the FDIC. The deposits of Heritage Southeast Bank are insured by the FDIC up to a maximum amount of $250,000. The Georgia Department of Banking and Finance and the FDIC regulate or monitor virtually all areas of Heritage Southeast Bank’s operations, including: • security devices and procedures; • adequacy of capitalization and loss reserves; • loans; • investments; • borrowings; • deposits; • mergers; • issuances of securities; • payment of dividends; • interest rates payable on deposits; • interest rates or fees chargeable on loans; • establishment of branches; • corporate reorganizations; • maintenance of books and records; and • adequacy of staff training to carry on safe lending and deposit gathering practices. These agencies and the federal and state laws applicable to Heritage Southeast Bank’s operations extensively regulate various aspects of the banking business, including, among other things, permissible types and amounts of loans, investments and other activities, capital adequacy, branching, interest rates on loans and on deposits, the maintenance of reserves on demand deposit liabilities, and the safety and soundness of the banking practices. All insured depository institutions must undergo regular on-site examinations by their appropriate banking agency. The cost of examinations of insured depository institutions and any affiliates may be assessed by the appropriate agency against each institution or affiliate as it deems necessary or appropriate. Insured depository institutions file quarterly call reports with their federal regulatory agency and their state supervisor, when applicable. The FDIC has developed a method for insured depository institutions to provide supplemental disclosure of the estimated fair market value of assets and liabilities, to the extent feasible and practicable, in any balance sheet, financial statement, report of condition or any other report of any insured depository institution. The FDIC and the other federal banking regulatory agencies also have issued standards for all insured depository institutions relating, among other things, to the following: • internal controls; • information systems and audit systems; • loan documentation; • credit underwriting; • interest rate risk exposure; and • asset quality. The Georgia Departme...