Classified Assets Sample Clauses

Classified Assets. Federal regulations require that each insured savings institution classify its assets on a regular basis. In addition, in connection with examinations of insured institutions, federal examiners have authority to identify problem assets and, if appropriate, classify them. There are three classifications for problem assets: "substandard," "doubtful" and "loss." Substandard assets have one or more defined weaknesses and are characterized by the distinct possibility that the insured institution will sustain some loss if the deficiencies are not corrected. Doubtful assets have the weaknesses of substandard assets with the additional characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions and values questionable, and there is a higher possibility of loss. An asset classified loss is considered uncollectible and of such little value that continuance as an asset of the institution is not warranted. Another category designated "special mention" also must be established and maintained for assets which do not currently expose an insured institution to a sufficient degree of risk to warrant classification as substandard, doubtful or loss. Assets classified as substandard or doubtful require the institution to establish general allowances for loan losses. If an asset or portion thereof is classified as loss, the insured institution must either establish specific allowances for loan losses in the amount of 100% of the portion of the asset classified loss, or charge-off such amount. General loss allowances established to cover possible losses related to assets classified substandard or doubtful may be included in determining an institution's regulatory capital, while specific valuation allowances for loan losses do not qualify as regulatory capital. Federal examiners may disagree with an insured institution's classifications and amounts reserved. At December 31, 2017, Century Next had $339,000 of assets classified substandard and no assets classified doubtful or loss. Non-performing loans at December 31, 2017, included $307,000 of classified assets, for which there was no related allowance for loan loss. Century Next had an additional $2.0 of assets designated as special mention at December 31, 2017.

Classified Assets. The Classified Assets of the Seller Bank as of the Effective Time shall not exceed 125% of the aggregate balance of Classified Assets set forth in Section 3.16(a) of the Seller Disclosure Schedule; for the purposes of this Section 7.2(h), “Classified Assets” means loans or other assets characterized as “Special Mention”, “Substandard”, “Doubtful”, “Loss” or words of similar import and “Other Real Estate Owned”, all as reflected in the books and records of Seller, prepared in a manner consistent with past practice, with the preparation of the Seller Financial Statements and with the Seller Bank’s written policies in effect as of the date of this Agreement; and three Business Days before the Closing Date, Seller shall provide Buyer with a schedule reporting Classified Assets, including “Other Real Estate Owned”, as of such time.

Classified Assets. CENFED has annexed to the CENFED Disclosure Letter a loan schedule identifying certain loan agreements, notes and borrowing arrangements (the "CENFED Loan Schedule") between its subsidiaries and borrowers of its subsidiaries. Except as specifically noted on the CENFED Loan Schedule, no subsidiary was, as of July 31, 1997, a party to any written or oral (i) loan agreement, note or borrowing arrangement, other than loans the unpaid balance of which does not exceed $100,000 per loan, under the terms of which the obligor is over 60 days delinquent in payment of principal or interest or loan agreement, note or borrowing arrangement which has been classified as "substandard," "doubtful," "loss," or "other loans specially mentioned" or any comparable classification by CENFED, a CENFED subsidiary, the OTS or the FDIC or (ii) loan agreement, note or borrowing arrangement including any loan guaranty, with any director, executive officer or ten percent stockholder of CENFED or, to the knowledge of CENFED, any person, corporation or enterprise controlling, controlled by or under common control with any of the foregoing.

Classified Assets. Classified Assets shall not exceed $84,000,000 as of the Effective Time; for the purposes of this Section 7.2(i), “Classified Assets” means loans or other assets characterized as “Substandard”, “Doubtful”, “Loss” or words of similar import and “Other Real Estate Owned”, all as reflected in the books and records of Target and Target Bank, prepared in a manner consistent with past practice, with the preparation of the financial statements in the Target SEC Reports and with Target’s or Target Bank’s written policies in effect as of the date of this Agreement; and three calendar days before the Closing Date, Target shall provide Buyer with a schedule reporting Classified Assets, including “Other Real Estate Owned”, as of such time.

Classified Assets. 11 (t)Material Interests of Certain Persons.............................. 12 (u)Insurance.......................................................... 12 (v)

Classified Assets. The Borrower shall not permit Matrix Bank to have a ratio (stated as a percentage) of Classified Assets to total assets at any time greater than 3%.

Classified Assets. The aggregate amount of loans of the Company and its Subsidiaries, on a consolidated basis, that are rated “substandard”, “doubtful” or “loss” did not exceed $5,300,000 as of December 31, 2013.

Classified Assets. BCB’s and Bay Bank’s aggregate Classified Assets, as defined below and as set forth on Section 5.7(h) of the BCB Disclosure Memorandum, shall not exceed $4,900,000 at the month-end that immediately precedes the Closing Date. “Classified Assets” means the sum of (i) loans and leases on nonaccrual status, (ii) loans and lease that were contractually past due 90 days or more in the payment of principal and/or interest (iii) other real estate owned, (iv) loans and leases which were required to be accounted for as troubled debt restructuring in accordance with Statement of Accounting Standards No. 15, (v) loans made or guaranteed by a person or entity presently a debtor in a federal bankruptcy proceeding, and (vi) loans and leases classified as “Substandard,” “Doubtful,” “Loss,” “Classified,” or words of similar import.

Classified Assets. As of the last day of the calendar month immediately preceding the Closing Date, the ▇▇▇▇▇▇▇▇ Federal Classified Assets shall not exceed $22,000,000.