Common use of CAPITAL PLAN Clause in Contracts

CAPITAL PLAN. (1) Within ninety (90) days, the Board shall develop a three year capital program. The program shall include: (a) specific plans for the maintenance of adequate capital; (b) projections for growth and capital requirements based upon a detailed analysis of the Bank’s assets, liabilities, earnings, fixed assets, and balance sheet activities; (c) projections of the sources and timing of additional capital to meet the Bank’s current and future needs; (d) the primary source(s) from which the Bank will strengthen its capital structure to meet the Bank’s needs; (e) contingency plans that identify alternative methods should the primary source(s) under (d) above not be available; and, (f) a dividend policy that permits the declaration of a dividend only: (i) when the Bank is in compliance with its approved capital program and will remain in compliance with the Capital Plan immediately after making the dividend or capital distribution; and, (ii) following OCC approval in accordance with 12 C.F.R. Part 163, Subpart E. (2) Upon completion, the Bank’s capital program shall be submitted to the Assistant Deputy Comptroller for prior determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and ensure adherence to the capital program. The Board shall review and update the Bank’s capital program on an annual basis or more frequently if necessary. Copies of the reviews and updates shall be submitted to the Assistant Deputy Comptroller. (3) 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.

CAPITAL PLAN. (1) Within ninety (90) days, the Board shall develop a three year capital program. The program shall include: (a) specific plans for the maintenance of adequate capital; (b) projections for growth and capital requirements based upon a detailed analysis of the Bank’s assets, liabilities, earnings, fixed assets, and balance sheet activities; (c) projections of the sources and timing of additional capital to meet the Bank’s current and future needs; (d) the primary source(s) from which the Bank will strengthen its capital structure to meet the Bank’s needs; (e) contingency plans that identify alternative methods should the primary source(s) under (d) above not be available; and, (f) a dividend policy that permits the declaration of a dividend only: (i) when the Bank is in compliance with its approved capital program and will remain in compliance with the Capital Plan immediately after making the dividend or capital distribution; and, (ii) following OCC approval in accordance with 12 C.F.R. Part 163, Subpart E. (2) Upon completion, the Bank’s capital program shall be submitted to the Assistant Deputy Comptroller for prior determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and ensure adherence to e n s u r e a d h e r e n c e t o the capital program. The Board shall review and update the Bank’s capital program on an annual basis or more frequently if necessary. Copies of the reviews and updates shall be submitted to the Assistant Deputy Comptroller. (3) 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.

CAPITAL PLAN. (1) Within ninety (90) days, the Board shall develop develop, implement, and thereafter ensure Bank adherence to a three three-year capital program. The program shall include: (a) specific plans for the maintenance of adequate capital; (b) projections for growth and capital requirements based upon a detailed analysis of the Bank’s 's assets, liabilities, earnings, fixed assets, and off- balance sheet activities; (cb) projections of the sources and timing of additional capital to meet the Bank’s 's current and future needs; (dc) the primary source(s) from which the Bank will strengthen its capital structure to meet the Bank’s 's needs; (ed) contingency plans that identify alternative methods should the primary source(s) under (dc) above not be available; and, (fe) a dividend policy that permits the declaration of a dividend only: (i) when the Bank is in compliance with its approved capital program and will remain in compliance with the Capital Plan immediately after making the dividend or capital distribution; and,program; (ii) following OCC approval when the Bank is in accordance compliance with 12 C.F.R. Part 163, Subpart E.U.S.C. §§ 56 and 60; and (iii) with the prior written approval of the Assistant Deputy Comptroller. (2) Upon completion, the Bank’s 's capital program shall be submitted to the Assistant Deputy Comptroller for prior determination of no supervisory objectionapproval. Upon receiving a determination of no supervisory objection from approval by the Assistant Deputy Comptroller, the Bank shall implement and ensure adherence adhere to the capital program. The Board shall review and update the Bank’s 's capital program on an annual basis basis, or more frequently if necessary. Copies of the reviews and updates shall be submitted to the Assistant Deputy Comptroller. (3) 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.

CAPITAL PLAN. (1) Within ninety (90) days, the Board shall develop develop, implement, and thereafter ensure Bank adherence to a three year capital program. The program shall include: (a) specific plans for the maintenance of adequate capital; (b) projections for growth and capital requirements based upon a detailed analysis of the Bank’s 's assets, liabilities, earnings, fixed assets, and off- balance sheet activities; (cb) projections of the sources and timing of additional capital to meet the Bank’s 's current and future needs; (dc) the primary source(s) from which the Bank will strengthen its capital structure to meet the Bank’s 's needs; (ed) contingency plans that identify alternative methods should the primary source(s) under (dc) above not be available; and, (fe) a dividend policy that permits the declaration of a dividend only: (i) when the Bank is in compliance with its approved capital program and will remain in compliance with the Capital Plan immediately after making the dividend or capital distribution; and,program; (ii) following OCC approval when the Bank is in accordance compliance with 12 C.F.R. Part 163, Subpart E.U.S.C. §§ 56 and 60; and (iii) with the prior written determination of no supervisory objection from the ADC. (2) Upon completion, the Bank’s 's capital program shall be submitted to the Assistant Deputy Comptroller ADC for prior determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy ComptrollerADC, the Bank shall implement and ensure adherence adhere to the capital program. The Board shall review and update the Bank’s 's capital program on an annual basis basis, or more frequently if necessary. Copies of the reviews and updates shall be submitted to the Assistant Deputy ComptrollerADC. (3) 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.

CAPITAL PLAN. (1) Within ninety (90) days, the Board shall develop develop, implement, and thereafter ensure Bank adherence to a three year capital program. The program shall include: (a) specific plans for the maintenance of adequate capital; (b) projections for growth and capital requirements based upon a detailed analysis of the Bank’s 's assets, liabilities, earnings, fixed assets, and off- balance sheet activities; (cb) projections of the sources and timing of additional capital to meet the Bank’s 's current and future needs; (dc) the primary source(s) from which the Bank will strengthen its capital structure to meet the Bank’s 's needs; (ed) contingency plans that identify alternative methods should the primary source(s) under (dc) above not be available; and, (fe) a dividend policy that permits the declaration of a dividend only: (i) when the Bank is in compliance with its approved capital program and will remain in compliance with the Capital Plan immediately after making the dividend or capital distribution; and,program; (ii) following OCC approval when the Bank is in accordance compliance with 12 C.F.R. Part 163U.S.C. §§ 56 and 60; and (iii) with the prior written determination of no supervisory objection by the Assistant Deputy Comptroller. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, Subpart E.the Bank shall implement and adhere to the dividend policy. (2) Upon completion, the Bank’s 's capital program shall be submitted to the Assistant Deputy Comptroller for 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 ensure adherence adhere to the capital program. The Board shall review and update the Bank’s 's capital program on an annual basis basis, or more frequently if necessary. Copies of Revisions to the reviews and updates Bank’s Capital Plan shall be submitted to the Assistant Deputy ComptrollerComptroller for a prior written determination of no supervisory objection. (3) 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.

CAPITAL PLAN. (1) Within ninety (90) days, the Board shall develop develop, implement, and thereafter ensure Bank adherence to a three year capital program. The program shall include: (a) specific plans for the maintenance of adequate capital; (b) projections for growth and capital requirements based upon a detailed analysis of the Bank’s assets, liabilities, earnings, fixed assets, and off balance sheet activities; (cb) projections of the sources and timing of additional capital to meet the Bank’s current and future needs; (dc) the primary source(s) from which the Bank will strengthen its capital structure to meet the Bank’s needs; (ed) contingency plans that identify alternative methods should the primary source(s) under (dc) above not be available; and, (fe) a dividend policy that permits the declaration of a dividend only: (i) when the Bank is in compliance with its approved capital program and will remain in compliance with the Capital Plan immediately after making the dividend or capital distribution; and,program; (ii) following OCC approval when the Bank is in accordance compliance with 12 C.F.R. Part 163U.S.C. §§ 56 and 60; and (iii) with the prior written determination of no supervisory objection by the Assistant Deputy Comptroller. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, Subpart E.the Bank shall implement and adhere to the dividend policy. (2) Upon completion, the Bank’s capital program shall be submitted to the Assistant Deputy Comptroller for 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 ensure adherence adhere to the capital program. The Board shall review and update the Bank’s capital program on an annual basis basis, or more frequently if necessary. Copies of Revisions to the reviews and updates Bank’s Capital Plan shall be submitted to the Assistant Deputy ComptrollerComptroller for a prior written determination of no supervisory objection. (3) 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.

CAPITAL PLAN. (1) Within ninety (90) days, the Board shall develop develop, implement, and thereafter ensure Bank adherence to a three year capital program. The program shall include: (a) specific plans for the maintenance of adequate capital; (b) projections for growth and capital requirements based upon a detailed analysis of the Bank’s 's assets, liabilities, earnings, fixed assets, and off- balance sheet activities; (cb) projections of the sources and timing of additional capital to meet the Bank’s 's current and future needs; (dc) the primary source(s) from which the Bank will strengthen its capital structure to meet the Bank’s 's needs; (ed) contingency plans that identify alternative methods should the primary source(s) under (dc) above not be available; and, (fe) a dividend policy that permits the declaration of a dividend only: (i) when the Bank is in compliance with its approved capital program and will remain in compliance with the Capital Plan immediately after making the dividend or capital distribution; and,program; (ii) following OCC approval when the Bank is in accordance compliance with 12 C.F.R. Part 163U.S.C. §§ 56 and 60; and (iii) with the prior written determination of no supervisory objection by the Assistant Deputy Comptroller. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, Subpart E.the Bank shall implement and adhere to the dividend policy. (2) Upon completion, the Bank’s 's capital program shall be submitted to the Assistant Deputy Comptroller for prior determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and ensure adherence adhere to the capital program. The Board shall review and update the Bank’s 's capital program on an annual basis basis, or more frequently if necessary. Copies of the reviews and updates shall be submitted to the Assistant Deputy Comptroller. (3) 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.