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Common use of Credit Risk Clause in Contracts

Credit Risk. (1) Within ninety (90) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written program to reduce the high level of credit risk in the Bank. The program shall include, but not be limited to: (a) procedures to strengthen credit administration, underwriting, and problem loan identification particularly in the commercial, commercial real estate, and agricultural loan portfolios as outlined in the Report of Examination; and (b) procedures to strengthen management of lending operations and to maintain an adequate, qualified staff in all functional areas; (c) The Board shall submit a copy of the program to the Assistant Deputy Comptroller. (d) At least quarterly, the Board shall prepare a written assessment of the bank’s credit risk, which shall evaluate the Bank’s progress under the aforementioned program. The Board shall submit a copy of this assessment to the Assistant Deputy Comptroller. (2) 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 2 contracts

Samples: Banking Agreement, Banking Agreement

Credit Risk. (1) Within ninety sixty (9060) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written program to reduce the high level of credit risk in the Bank. The program shall include, but not be limited to: (a) procedures to strengthen credit administration, underwriting, and problem loan identification particularly in the commercial, non-owner occupied commercial real estate, and agricultural loan portfolios as outlined in the Report of Examination; andestate portfolio; (b) procedures to strengthen management of lending loan operations and to maintain an adequate, qualified staff in all lending functional areas; (c) procedures for strengthening collections; and (d) an action plan to control loan growth. (2) The Board shall submit a copy of the program to the Assistant Deputy Comptroller. (d3) At least quarterly, the Board shall prepare a written assessment of the bank’s credit risk, which shall evaluate the Bank’s progress under the aforementioned program. The Board shall submit a copy of this assessment to the Assistant Deputy Comptroller. (24) 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 2 contracts

Samples: Banking Agreement (Peoples Bancorporation Inc /Sc/), Banking Agreement

Credit Risk. (1) Within ninety (90) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written program to reduce the high level of credit risk in the Bank. The program shall include, but not be limited to: (a) procedures to strengthen credit administration, underwriting, and problem loan identification particularly in the commercial, commercial real estate, and agricultural loan portfolios as outlined in the Report of Examination; andestate portfolios; (b) procedures to strengthen management of lending operations credit risk and to maintain an adequate, qualified staff in all functional credit related areas; (c) procedures for strengthening collections; and (d) an action plan to control growth in commercial real estate lending. (e) The Board shall submit a copy of the program to the Assistant Deputy Comptroller. (df) At least quarterly, the Board shall prepare a written assessment of the bankBank’s credit risk, which shall evaluate the Bank’s progress under the aforementioned program. The Board shall submit a copy of this assessment to the Assistant Deputy Comptroller. (2) 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 2 contracts

Samples: Banking Agreement, Banking Agreement (Seacoast Banking Corp of Florida)

Credit Risk. (1) Within ninety (90) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written program to reduce the high level of credit risk in the Bank. The program shall include, but not be limited to: (a) procedures to strengthen credit administration, underwriting, and problem loan identification particularly in the commercial, commercial real estateresidential second mortgage, and agricultural loan portfolios as outlined in the Report of Examination; andmarine portfolios; (b) procedures to strengthen loan portfolio management of lending operations and to maintain an adequate, qualified staff in all lending-related functional areas; (c) procedures for strengthening collections; and (d) an action plan to control loan growth. (2) The Board shall submit a copy of the program to the Assistant Deputy Comptroller. (d3) At least quarterly, the Board shall prepare a written assessment of the bankBank’s credit risk, which shall evaluate the Bank’s progress under the aforementioned program. The Board shall submit a copy of this assessment to the Assistant Deputy Comptroller. (24) 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 2 contracts

Samples: Banking Agreement (Pelican Financial Inc), Banking Agreement

Credit Risk. (1) Within ninety (90) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written program to reduce the high level of credit risk in the Bank. The program shall include, but not be limited to: (a) procedures to strengthen credit administration, underwriting, and problem loan identification particularly in the commercial, commercial real estate, and agricultural loan portfolios as outlined in the Report of Examination; and (b) procedures to strengthen management of lending operations and to maintain an adequate, qualified staff in all functional areas; (c) The Board shall submit a copy of the program to the Assistant Deputy Comptroller. (d) At least quarterly, the Board shall prepare a written assessment of the bank’s 's credit risk, which shall evaluate the Bank’s 's progress under the aforementioned program. The Board shall submit a copy of this assessment to the Assistant Deputy Comptroller. (2) 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 2 contracts

Samples: Agreement Between National Bank of Geneva and the Office of the Comptroller of the Currency (Financial Institutions Inc), Agreement Between the Bath National Bank and the Office of the Comptroller of the Currency (Financial Institutions Inc)

Credit Risk. (1) Within ninety (90) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written program to reduce the high level of credit risk in the Bank. The program shall include, but not be limited to: (a) procedures to strengthen credit administration, underwriting, and problem loan identification particularly in the commercial, commercial real estate, and agricultural loan portfolios as outlined in the Report of Examination; andestate portfolio; (b) procedures to strengthen management of lending loan operations and to maintain an adequate, qualified staff in all functional areas; (c) procedures for strengthening appraisal processes; and (d) an action plan to control real estate and payday loan growth. (e) The Board shall submit a copy of the program to the Assistant Deputy Comptroller. (df) At least quarterly, the Board shall prepare a written assessment of the bank’s 's credit risk, which shall evaluate the Bank’s 's progress under the aforementioned program. The Board shall submit a copy of this assessment to the Assistant Deputy Comptroller. (2) 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

Credit Risk. (1) Within ninety (90) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written program to reduce the high level of credit risk in the Bank. The program shall include, but not be limited to: (a) procedures to strengthen credit administration, underwriting, and problem loan identification particularly in the commercial, commercial real estate, estate and agricultural loan portfolios as outlined in the Report of Examination; andconstruction portfolio; (b) procedures to strengthen management of lending commercial real estate loan operations and to maintain an adequate, qualified staff in all problem loan workout functional areas; (c) procedures for strengthening collections; and (d) an action plan to control commercial real estate loan growth. (2) The Board shall submit a copy of the program to the Assistant Deputy Comptroller. (d3) At least quarterly, the Board shall prepare a written assessment of the bank’s credit risk, which shall evaluate the Bank’s progress under the aforementioned program. The Board shall submit a copy of this assessment to the Assistant Deputy Comptroller. (24) 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

Credit Risk. (1) Within ninety sixty (9060) daysdays of the effective date of this Agreement, the Board shall develop, implement, and thereafter while this Agreement is in effect ensure Bank adherence to a written program to reduce the high level of credit risk in the Bank. The program shall include, but not be limited to: (a) procedures to strengthen credit administration, underwriting, Development of specific goals for the reduction of classified and problem loan identification particularly in the commercial, commercial real estate, criticized assets and agricultural loan portfolios as outlined in the Report of Examinationa timeframe for meeting those goals; and (b) procedures to strengthen management Development of lending operations and to maintain an adequate, qualified staff specific goals for reduction of concentrations of credit in all functional areas;excess of guidance levels for commercial real estate as established in OCC Bulletin 2006-46. (c2) The Upon adoption, the Board shall submit a copy of the program to the Assistant Deputy Comptroller. (d3) At least quarterly, the Board shall prepare a written assessment of the bank’s credit risk, which shall evaluate the Bank’s progress under the aforementioned program. The Board shall submit a copy of this assessment to the Assistant Deputy Comptroller. (24) 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 (Savannah Bancorp Inc)

Credit Risk. (1) Within ninety sixty (9060) daysdays of the effective xxxxx of this Agreement, the Board shall develop, implement, and thereafter while this Agreement is in effect ensure Bank adherence to a written program to reduce the high level of credit risk in the Bank. The program shall include, but not be limited to: (a) procedures to strengthen credit administration, underwriting, Development of specific goals for the reduction of classified and problem loan identification particularly in the commercial, commercial real estate, criticized assets and agricultural loan portfolios as outlined in the Report of Examinationa timeframe for meeting those goals; and (b) procedures to strengthen management Development of lending operations and to maintain an adequate, qualified staff specific goals for reduction of concentrations of credit in all functional areas;excess of guidance levels for commercial real estate as established in OCC Bulletin 2006-46. (c2) The Upon adoption, the Board shall submit a copy of the program to the Assistant Deputy Comptroller. (d3) At least quarterly, the Board shall prepare a written assessment of the bank’s credit risk, which shall evaluate the Bank’s progress under the aforementioned program. The Board shall submit a copy of this assessment to the Assistant Deputy Comptroller. (24) 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

Credit Risk. (1) Within ninety one hundred twenty (90120) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written program to reduce the high level of credit risk in the Bank. The program shall include, but not be limited to: (a) procedures to strengthen credit administration, underwriting, and problem loan identification particularly in the commercial, commercial real estateestate portfolio; (b) portfolio stress testing and sensitivity analysis of CRE concentrations; (c) procedures to ensure compliance with relevant regulatory guidance including OCC Bulletin 2006-46, OCC Bulletin 2009-32, and agricultural loan portfolios as outlined in the Report of ExaminationSupervisory Memorandum 2009-3; and (b) procedures to strengthen management of lending operations and to maintain an adequate, qualified staff in all functional areas; (cd) The Board shall submit a copy of the program to the Assistant Deputy ComptrollerComptroller upon completion. (de) At least quarterly, the Board shall prepare a written assessment of the bank’s credit risk, which shall evaluate the Bank’s progress under the aforementioned program. The Board shall submit a copy of this assessment to the Assistant Deputy ComptrollerComptroller upon completion. (2) 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

Credit Risk. (1) Within ninety (90) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written program to reduce the high level of credit risk in the Bank. The program shall include, but not be limited to: (a) procedures to strengthen credit administration, underwriting, and problem loan identification particularly in the commercial, commercial real estate, and agricultural loan portfolios as outlined in the Report of Examination; andestate portfolio; (b) procedures to strengthen management of lending operations the loan portfolio and to maintain an adequate, qualified staff in all functional lending related areas; (c) procedures for strengthening collections; and (d) an action plan to control loan growth. (e) The Board shall submit a copy of the program to the Assistant Deputy Comptroller. (df) At least quarterly, the Board shall prepare a written assessment of the bank’s credit risk, which shall evaluate the Bank’s progress under the aforementioned program. The Board shall submit a copy of this assessment to the Assistant Deputy Comptroller. (2) The Board shall shall, within 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

Credit Risk. (1) Within ninety thirty-five (9035) daysdays of this Amendment, the Board shall develop, implement, and thereafter ensure Bank adherence to a written program to reduce the high level of credit risk in the Bank. The program shall include, but not be limited to: (a) procedures to strengthen credit administration, underwriting, and problem loan identification particularly in the commercial, commercial real estate, and agricultural asset- based loan portfolios as outlined in the Report of Examination; andportfolio; (b) procedures to strengthen risk management of lending operations systems, credit administration, and to maintain an adequate, qualified staff in all lending functional areas;; and (c) an action plan to control loan officer turnover. (2) The Board shall submit a copy of the program to the Assistant Deputy ComptrollerComptroller for a prior written determination of no supervisory objection. (d3) At least quarterly, the The Board shall prepare a quarterly written assessment of the bankBank’s credit risk, which shall evaluate the Bank’s progress under the aforementioned program. The Board shall submit a copy of this assessment to the Assistant Deputy Comptroller. (24) 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: Formal Agreement