FHLB Stock Sample Clauses

FHLB Stock. It is not practical to determine the fair value of FHLB stock due to restrictions placed on its transferability. Deposit liabilities The carrying value of demand deposits, money growth accounts, savings accounts, and variable rate time deposits approximated their fair values at the reporting date. The fair value of fixed rate time deposits are estimated by discounting future cash flows using rates currently offered for deposits with similar remaining maturities. Short-term borrowings The carrying amounts of federal funds purchased, borrowings under repurchase agreements, and other short-term borrowings, generally maturing within ninety days, approximate their fair values. Other borrowings The fair values of the Company’s long-term borrowings are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements. Off-balance sheet instruments The fair value of unused lines of credit and standby letters of credit are estimated based on fees currently charged for similar contracts, the terms of existing contracts and the present credit worthiness of the counterparties. The fair values of financial instruments at December 31, 2014 and 2013 are as follows (in thousands): December 31, 2014 Carrying Fair amount value Financial assets: Cash and due from banks $ 7,176 7,176 Federal funds sold 82 82 Investment securities available for sale 98,184 98,184 Loans, net 206,317 215,573 Accrued interest receivable 1,428 1,428 Federal Home Loan Bank stock 557 557 Mortgage servicing rights 326 326 ancial liabilities: Deposits 288,383 293,031 Repurchase agreements 561 561 Accrued interest payable 125 125 FHLB advances 30 30 Fin Unrecognized financial instruments: Commitments to extend credit 24,903 24,903 Financial assets: December 31, 2013 Carrying Fair amount value Cash and due from banks $ 7,095 7,095 Federal funds sold 302 302 Investment securities available for sale 73,985 73,985 Loans, net 171,283 179,992 Accrued interest receivable 1,201 1,201 Federal Home Loan Bank stock 532 532 Mortgage servicing rights 368 368 ancial liabilities: Deposits 236,047 237,709 Repurchase agreements 882 882 Accrued interest payable 90 90 FHLB advances 49 52 Fin Unrecognized financial instruments: Commitments to extend credit 16,182 16,182
Sample 1
AutoNDA by SimpleDocs
FHLB Stock. FHLB Stock shall be allocated as set forth on Schedule ---------- -------- 2.1(k). ------
Sample 1
FHLB Stock. Unless this Agreement is otherwise terminated in accordance with Article VIII, Seller Bank shall, prior to the Closing, assign, transfer or otherwise dispose of any and all of its ownership or other rights in, to or under any activity stock of the Federal Home Loan Bank of Topeka (the “FHLB”), such that only the membership stock of FHLB owned by Seller Bank, if any, is transferred pursuant to this Agreement.
Sample 1
FHLB Stock. FHLB Stock shall be allocated as set forth on Schedule 2.1(k).
Sample 1

Related to FHLB Stock

  • Common Shares 4 Company...................................................................................... 4

  • Common Stock 1 Company........................................................................1

  • Company Stock The Certificates and stock powers, duly endorsed, transferring the Company Stock to Subsidiary and the officer and director resignations required in Section 4.6;

  • Series B Preferred Stock Section 1.2(d)......................... 5 Shares............................ Section 3.2(a).........................

  • Company Preferred Stock “Company Preferred Stock” shall mean the Preferred Stock, $0.001 par value per share, of the Company.

  • Series A Preferred Stock On the Closing Date, each Subscriber shall purchase and the Company shall sell to each such Subscriber, the number of shares of Preferred Stock designated on such Subscriber’s signature page hereto for such Subscriber’s Purchase Price indicated thereon.

  • Merger Sub Stock Each share of common stock, par value $.01 per share, of Merger Sub issued and outstanding immediately prior to the Effective Time shall be converted into and exchanged for one (1) duly and validly issued, fully paid and nonassessable share of common stock of the Surviving Corporation.

  • Company Shares If the managing underwriter has not limited the number of Registrable Securities to be underwritten, the Company may include securities for its own account or for the account of others in such registration if the managing underwriter so agrees and if the number of Registrable Securities which would otherwise have been included in such registration and underwriting will not thereby be limited.

  • Preferred Stock Shares of Preferred Stock may be issued from time to time in one or more series, each of such series to have such terms as stated or expressed herein and in the resolution or resolutions providing for the creation and issuance of such series adopted by the Board of Directors as hereinafter provided. Authority is hereby expressly granted to the Board of Directors from time to time to issue the Preferred Stock in one or more series, and in connection with the creation of any such series, by adopting a resolution or resolutions providing for the issuance of the shares thereof and by filing a certificate of designation relating thereto in accordance with the DGCL (a “Certificate of Designation”), to determine and fix the number of shares of such series and such voting powers, full or limited, or no voting powers, and such designations, preferences and relative participating, optional or other special rights, and qualifications, limitations or restrictions thereof, including without limitation thereof, dividend rights, conversion rights, redemption privileges and liquidation preferences, and to increase or decrease (but not below the number of shares of such series then outstanding) the number of shares of any series as shall be stated and expressed in such resolutions, all to the fullest extent now or hereafter permitted by the DGCL. Without limiting the generality of the foregoing, the resolution or resolutions providing for the creation and issuance of any series of Preferred Stock may provide that such series shall be superior or rank equally or be junior to any other series of Preferred Stock to the extent permitted by law and this Second Amended and Restated Certificate (including any Certificate of Designation). Except as otherwise required by law, holders of any series of Preferred Stock shall be entitled only to such voting rights, if any, as shall expressly be granted thereto by this Second Amended and Restated Certificate (including any Certificate of Designation). The number of authorized shares of Preferred Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of a majority of the stock of the Corporation entitled to vote, irrespective of the provisions of Section 242(b)(2) of the DGCL.

  • Series C Preferred Stock The holders of outstanding shares of Series C Preferred Stock shall be entitled to receive dividends, when and as declared by the Board of Directors, out of any assets at the time legally available therefor, at the Dividend Rate specified for such shares of Preferred Stock payable in preference and priority to any declaration or payment of any distribution on Series A Preferred Stock, Series B Preferred Stock or Common Stock of the Corporation other than a dividend payable solely in Common Stock. No distributions shall be made with respect to the Series A Preferred Stock, Series B Preferred Stock or Common Stock during any fiscal year of the Corporation, other than dividends on the Common Stock payable solely in Common Stock, until all dividends at the applicable Dividend Rate on the Series C Preferred Stock have been declared and paid or set apart for payment to the holders of Series C Preferred Stock. The right to receive dividends on shares of Series C Preferred Stock shall not be cumulative, and no right to such dividends shall accrue to holders of Series C Preferred Stock by reason of the fact that dividends on said shares are not declared or paid in any year.

Time is Money Join Law Insider Premium to draft better contracts faster.