Common use of Investment Securities; Derivatives Clause in Contracts

Investment Securities; Derivatives. (i) Except for restrictions that exist for securities that are classified as “held to maturity,” none of the investment securities held by the Company or any of its Subsidiaries, including but not limited to FHLB stock, is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time. (ii) Neither the Company nor any of its Subsidiaries is a party to or has agreed to enter into an exchange-traded or over-the-counter equity, interest rate, foreign exchange or other swap, forward, future, option, cap, floor or collar or any other contract that is a derivative contract (including various combinations thereof) or owns securities that (A) are referred to generically as “structured notes,” “high risk mortgage derivatives,” “capped floating rate notes” or “capped floating rate mortgage derivatives” or (B) are likely to have changes in value as a result of interest or exchange rate changes that materially exceed normal changes in value attributable to interest or exchange rate changes.

Investment Securities; Derivatives. (i) Except for restrictions that exist for securities that are classified as “held to maturity,” none of the investment securities held by the Company MSB or any of its Subsidiaries, including but not limited to FHLB stock, Subsidiaries is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time. (ii) Neither the Company MSB nor any of its Subsidiaries is a party to or has agreed to enter into an exchange-traded or over-the-counter equity, interest rate, foreign exchange or other swap, forward, future, option, cap, floor or collar or any other contract that is a derivative contract (including various combinations thereof) or owns securities that (A) are referred to generically as “structured notes,” “high risk mortgage derivatives,” “capped floating rate notes” or “capped floating rate mortgage derivatives” or (B) are likely to have changes in value as a result of interest or exchange rate changes that materially significantly exceed normal changes in value attributable to interest or exchange rate changes.

Investment Securities; Derivatives. (i) Except for restrictions that exist for securities that are classified as “held to maturity,” none of the investment securities held by the Company CNB Financial or any of its Subsidiaries, including but not limited to FHLB stock, Subsidiaries is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time. (ii) Neither the Company CNB Financial nor any of its Subsidiaries is a party to or has agreed to enter into an exchange-traded or over-the-counter equity, interest rate, foreign exchange or other swap, forward, future, option, cap, floor or collar or any other contract that is a derivative contract (including various combinations thereof) or owns securities that (A) are referred to generically as “structured notes,” “high risk mortgage derivatives,” “capped floating rate notes” or “capped floating rate mortgage derivatives” or (B) are likely to have changes in value as a result of interest or exchange rate changes that materially significantly exceed normal changes in value attributable to interest or exchange rate changes.

Investment Securities; Derivatives. (i) Except for restrictions that exist for securities that are classified as “held to maturity,” none of the investment securities held by the Company or any of its Subsidiaries, including but not limited to FHLB stock, Subsidiaries is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time. (ii) Neither the Company nor any of its Subsidiaries is a party to or has agreed to enter into an exchange-traded or over-the-counter equity, interest rate, foreign exchange or other swap, forward, future, option, cap, floor or collar or any other contract that is a derivative contract (including various combinations thereof) or owns securities that (A) are referred to generically as “structured notes,” “high risk mortgage derivatives,” “capped floating rate notes” or “capped floating rate mortgage derivatives” or (B) are likely to have changes in value as a result of interest or exchange rate changes that materially significantly exceed normal changes in value attributable to interest or exchange rate changes.

Investment Securities; Derivatives. (i) Except for restrictions that exist for securities that are classified as “held to maturity,” none of the investment securities held by the Company or any of its Subsidiaries, including but not limited to FHLB stock, Subsidiaries is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time. (ii) Neither the Company nor any of its Subsidiaries is a party to or has agreed to enter into an exchange-traded or over-the-counter equity, interest rate, foreign exchange or other swap, forward, future, option, cap, floor or collar or any other contract that is a derivative contract (including various combinations thereof) or owns securities that (A) are referred to generically as “structured notes,” “high risk mortgage derivatives,” “capped floating rate notes” or “capped floating rate mortgage derivatives” or (B) are likely to have changes in value as a result of interest or exchange rate changes that materially exceed normal changes in value attributable to interest or exchange rate changes.

Investment Securities; Derivatives. (i) Except for restrictions that exist for securities that are classified as “held to maturity,” none of the investment securities held by the Company SSE or any of its Subsidiaries, including but not limited to FHLB stock, Subsidiaries is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time. (ii) Neither the Company SSE nor any of its Subsidiaries is a party to or has agreed to enter into an exchange-traded or over-the-counter equity, interest rate, foreign exchange or other swap, forward, future, option, cap, floor or collar or any other contract that is a derivative contract (including various combinations thereof) or owns securities that (A) are referred to generically as “structured notes,” “high risk mortgage derivatives,” “capped floating rate notes” or “capped floating rate mortgage derivatives” or (B) are likely to have changes in value as a result of interest or exchange rate changes that materially significantly exceed normal changes in value attributable to interest or exchange rate changes.

Investment Securities; Derivatives. (i) Except for restrictions that exist for securities that are classified as “"held to maturity,” " none of the investment securities held by the Company DFBS or any of its Subsidiaries, including but not limited to FHLB stock, Subsidiaries is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time. (ii) Neither the Company DFBS nor any of its Subsidiaries is a party to or has agreed to enter into an exchange-traded or over-the-counter equity, interest rate, foreign exchange or other swap, forward, future, option, cap, floor or collar or any other contract that is a derivative contract (including various combinations thereof) or owns securities that (A) are referred to generically as “"structured notes,” “" "high risk mortgage derivatives,” “" "capped floating rate notes” " or “"capped floating rate mortgage derivatives” " or (B) are likely to have changes in value as a result of interest or exchange rate changes that materially significantly exceed normal changes in value attributable to interest or exchange rate changes.

Investment Securities; Derivatives. (i) Except for restrictions that exist for securities that are classified as “"held to maturity,” " none of the investment securities held by the Company FCCO or any of its Subsidiaries, including but not limited to FHLB stock, Subsidiaries is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time. (ii) Neither the Company FCCO nor any of its Subsidiaries is a party to or has agreed to enter into an exchange-traded or over-the-counter equity, interest rate, foreign exchange or other swap, forward, future, option, cap, floor or collar or any other contract that is a derivative contract (including various combinations thereof) or owns securities that (A) are referred to generically as “"structured notes,” “" "high risk mortgage derivatives,” “" "capped floating rate notes” " or “"capped floating rate mortgage derivatives” " or (B) are likely to have changes in value as a result of interest or exchange rate changes that materially significantly exceed normal changes in value attributable to interest or exchange rate changes.

Investment Securities; Derivatives. (i) Except for restrictions that exist for securities that are classified as “held to maturity,” none of the investment securities held by the Company First Valley Bancorp or any of its Subsidiaries, including but not limited to FHLB stock, Subsidiaries is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time. (ii) Neither the Company First Valley Bancorp nor any of its Subsidiaries is a party to or has agreed to enter into an exchange-traded or over-the-counter equity, interest rate, foreign exchange or other swap, forward, future, option, cap, floor or collar or any other contract that is a derivative contract (including various combinations thereof) or owns securities that (A) are referred to generically as “structured notes,” “high risk mortgage derivatives,” “capped floating rate notes” or “capped floating rate mortgage derivatives” or (B) are likely to have changes in value as a result of interest or exchange rate changes that materially significantly exceed normal changes in value attributable to interest or exchange rate changes.

Investment Securities; Derivatives. (i) Except for restrictions that exist for securities that are classified as “"held to maturity,” " none of the investment securities held by the Company Home Building Bancorp or any of its Subsidiaries, including but not limited to FHLB stock, Subsidiaries is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time. (ii) Neither the Company Home Building Bancorp nor any of its Subsidiaries is a party to or has agreed to enter into an exchange-traded or over-the-counter equity, interest rate, foreign exchange or other swap, forward, future, option, cap, floor or collar or any other contract that is a derivative contract (including various combinations thereof) or owns securities that (A) are referred to generically as “"structured notes,” “" "high risk mortgage derivatives,” “" "capped floating rate notes” " or “"capped floating rate mortgage derivatives” " or (B) are likely to have changes in value as a result of interest or exchange rate changes that materially significantly exceed normal changes in value attributable to interest or exchange rate changes.

Investment Securities; Derivatives. (i) Except for restrictions that exist for securities that are classified as “held to maturity,” none of the investment securities held by the Company Factory Point Bancorp or any of its Subsidiaries, including but not limited to FHLB stock, Subsidiaries is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time. (ii) Neither the Company Factory Point Bancorp nor any of its Subsidiaries is a party to or has agreed to enter into an exchange-traded or over-the-counter equity, interest rate, foreign exchange or other swap, forward, future, option, cap, floor or collar or any other contract that is a derivative contract (including various combinations thereof) or owns securities that (A) are referred to generically as “structured notes,” “high risk mortgage derivatives,” “capped floating rate notes” or “capped floating rate mortgage derivatives” or (B) are likely to have changes in value as a result of interest or exchange rate changes that materially significantly exceed normal changes in value attributable to interest or exchange rate changes.

Investment Securities; Derivatives. (i) Except for restrictions that exist for securities that are classified as “held to maturity,” none of the investment securities held by the Company IIBK or any of its Subsidiaries, including but not limited to FHLB stock, is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time. (ii) Neither the Company IIBK nor any of its Subsidiaries is a party to or has agreed to enter into an exchange-traded or over-the-counter equity, interest rate, foreign exchange or other swap, forward, future, option, cap, floor or collar or any other contract that is a derivative contract (including various combinations thereof) or owns securities that (A) are referred to generically as “structured notes,” “high risk mortgage derivatives,” “capped floating rate notes” or “capped floating rate mortgage derivatives” or (B) are likely to have changes in value as a result of interest or exchange rate changes that materially exceed normal changes in value attributable to interest or exchange rate changes.

Investment Securities; Derivatives. (i) Except for restrictions that exist for securities that are classified as “held to maturity,” none of the investment securities and derivatives held by the Company HV Bank or any of its Subsidiaries, including but not limited to FHLB stock, Subsidiaries is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time. (ii) Neither the Company HV Bank nor any of its Subsidiaries is a party to or has agreed to enter into an exchange-traded or over-the-counter equity, interest rate, foreign exchange or other swap, forward, future, option, cap, floor or collar or any other contract that is a derivative contract (including various combinations thereof) or owns securities that (A) are referred to generically as “structured notes,” “high risk mortgage derivatives,” “capped floating rate notes” or “capped floating rate mortgage derivatives” or (B) are likely to have changes in value as a result of interest or exchange rate changes that materially exceed normal changes in value attributable to interest or exchange rate changes.

Investment Securities; Derivatives. (i) Except for restrictions that exist for securities that are classified as “held to maturity,” none of the investment securities and derivatives held by the Company Victory Bancorp or any of its Subsidiaries, including but not limited to FHLB stock, Subsidiaries is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time. (ii) Neither the Company Victory Bancorp nor any of its Subsidiaries is a party to or has agreed to enter into an exchange-traded or over-the-counter equity, interest rate, foreign exchange or other swap, forward, future, option, cap, floor or collar or any other contract that is a derivative contract (including various combinations thereof) or owns securities that (A) are referred to generically as “structured notes,” “high risk mortgage derivatives,” “capped floating rate notes” or “capped floating rate mortgage derivatives” or (B) are likely to have changes in value as a result of interest or exchange rate changes that materially exceed normal changes in value attributable to interest or exchange rate changes.

Investment Securities; Derivatives. (i) Except for restrictions that exist for securities that are classified as “"held to maturity,” " none of the investment securities held by the Company Hometown or any of its Subsidiaries, including but not limited to FHLB stock, Subsidiaries is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time. (ii) Neither the Company Hometown nor any of its Subsidiaries is a party to or has agreed to enter into an exchange-traded or over-the-counter equity, interest rate, foreign exchange or other swap, forward, future, option, cap, floor or collar or any other contract that is a derivative contract (including various combinations thereof) or owns securities that (A) are referred to generically as “"structured notes,” “" "high risk mortgage derivatives,” “" "capped floating rate notes” " or “"capped floating rate mortgage derivatives” " or (B) are likely to have changes in value as a result of interest or exchange rate changes that materially significantly exceed normal changes in value attributable to interest or exchange rate changes.

Investment Securities; Derivatives. (i) Except for restrictions that exist for securities that are classified as “"held to maturity,” " none of the investment securities held by the Company PFSB or any of its Subsidiaries, including but not limited to FHLB stock, Subsidiaries is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time. (ii) Neither the Company PFSB nor any of its Subsidiaries is a party to or has agreed to enter into an exchange-traded or over-the-counter equity, interest rate, foreign exchange or other swap, forward, future, option, cap, floor or collar or any other contract that is a derivative contract (including various combinations thereof) or owns securities that (A) are referred to generically as “"structured notes,” “" "high risk mortgage derivatives,” “" "capped floating rate notes” " or “"capped floating rate mortgage derivatives” or (B) are likely to have changes in value as a result of interest or exchange rate changes that materially exceed normal changes in value attributable to interest or exchange rate changes."