Credit Risk. (1) Within sixty (60) 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. (2) The program shall include, but not be limited to: (a) procedures to strengthen credit underwriting, particularly in the commercial real estate loan portfolio; (b) procedures to strengthen management of 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. The Board shall promptly submit a copy of the program to the ADC. (3) 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 ADC.
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Samples: Agreement Between Albany Bank and Trust, n.a. And the Comptroller of the Currency (Community Capital Bancshares Inc), Banking Compliance Agreement, Banking Agreement
Credit Risk. (1) Within sixty forty five (6045) 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.
(2) . The program shall include, but not be limited to:
(a) procedures to strengthen credit underwriting, particularly in the commercial real estate loan portfolio;
(b) procedures to strengthen management of loan operations and to maintain an adequate, qualified staff in all lending functional areas;
(c) procedures for strengthening collections;
(d) problem loan workout plans; and
(de) an action plan to control loan and monitor asset growth. .
(2) The Board shall promptly submit a copy of the program to the ADC.
(3) 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 ADC.
Appears in 1 contract
Samples: Banking Agreement
Credit Risk. (1) Within sixty (60) 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.
(2) . The program shall include, but not be limited to:
(a) procedures to strengthen credit underwriting, particularly in the commercial real estate loan portfolioand instalment portfolios;
(b) procedures to strengthen management of loan credit operations and to maintain an adequate, qualified staff in all lending functional credit areas;
(c) procedures for strengthening collections; and
(d) an action plan to control loan growth. The Upon completion, the Board shall promptly submit a copy of the program to the ADC.
(32) 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 promptly submit a copy of this assessment to the ADC.
Appears in 1 contract
Samples: Banking Agreement