Common use of Loan Loss Reserves Clause in Contracts

Loan Loss Reserves. The reserves for possible loan losses shown on the March 31, 2001 Consolidated Reports of Condition and Income (call report) filed with a Regulatory Agency for the Company's Subsidiaries are adequate in all material respects to provide for possible losses, net of recoveries relating to loans previously charged off, on loans outstanding (including accrued interest receivable) as of that date.

Loan Loss Reserves. The reserves for possible loan losses shown on the March December 31, 2001 2002 Consolidated Reports of Condition and Income (call report) filed with a Regulatory Agency for the Company's Subsidiaries are adequate in all material respects to provide for possible were determined by application of the Bank's policies and procedures on a basis consistently applied from prior periods and represents management's good faith estimate of reasonably expectable losses, net of recoveries relating to loans previously charged off, on loans outstanding (including accrued interest receivable) as of that date.

Loan Loss Reserves. The reserves for possible loan losses shown on the March May 31, 2001 Consolidated Reports of Condition and Income (call report) reports filed with a Regulatory Agency for the Company's Subsidiaries are adequate in all material respects to provide for possible losses, net of recoveries relating to loans previously charged off, on loans outstanding (including accrued interest receivable) as of that dateMay 31, 2001.