Loan Portfolio and Investment Securities. 4.16.1. The allowance for loan losses reflected in the Hopewell Valley Financial Statements as of December 31, 2014 and June 30, 2015 was, and the allowance for loan losses reflected in the Hopewell Valley Regulatory Reports for periods ending after June 30, 2015, will be, adequate, as of the dates thereof, under GAAP in all material respects.
4.16.2. Except for any individual loans with principal outstanding balances of less than $50,000, Hopewell Valley DISCLOSURE SCHEDULE 4.16.2 sets forth a listing, as of July 31, 2015, by account, of: (i) all loans (including loan participations) of Hopewell Valley or any Hopewell Valley Subsidiary that have been accelerated during the past twelve months by reason of a default or adverse developments in the condition of the borrower or other events or circumstances affecting the credit of the borrower; (ii) all loan commitments or lines of credit of Hopewell Valley or any Hopewell Valley Subsidiary that have been terminated by Hopewell Valley or any Hopewell Valley Subsidiary during the past twelve months by reason of a default or adverse developments in the condition of the borrower or other events or circumstances affecting the credit of the borrower; (iii) each borrower, customer or other party which has notified Hopewell Valley or any Hopewell Valley Subsidiary during three years preceding the date of this Agreement, or has asserted against Hopewell Valley or any Hopewell Valley Subsidiary, in each case in writing, any “lender liability” or similar claim, and, to the Knowledge of Hopewell Valley, each borrower, customer or other party which has given Hopewell Valley or any Hopewell Valley Subsidiary any oral notification of, or orally asserted to or against Hopewell Valley or any Hopewell Valley Subsidiary, any such claim; (iv) all loans, (A) that are contractually past due 90 days or more in the payment of principal and/or interest, (B) that are on non-accrual status, (C) that are as of the date of this Agreement classified as “substandard,” “doubtful,” “loss,” “classified,” “criticized,” “watch list” or “special mention” (or words of similar import) by Hopewell Valley and any Hopewell Valley Subsidiary, or any applicable Bank Regulator, (D) to the Knowledge of Hopewell Valley, as to which a reasonable doubt exists as to the timely future collectability of principal and/or interest, whether or not interest is still accruing or the loans are less than 90 days past due, (E) where, during the past three years, the i...
Loan Portfolio and Investment Securities. 5.13.1. The allowance for loan losses reflected in Somerset Bank’s audited consolidated statement of financial condition at June 30, 2021 was, and the allowance for loan losses shown on the balance sheets in Somerset Bank’s Financial Statements for periods ending after June 30, 2021 will be, adequate, as of the dates thereof, under GAAP.
5.13.2. SOMERSET BANCORP DISCLOSURE SCHEDULE 5.13.2 sets forth a listing, as of June 30, 2022, (A) of all loans of Somerset Bank and any Somerset Bank Subsidiary, (1) that are contractually past due 90 days or more in the payment of principal and/or interest, (2) that are on non-accrual status, (3) that are classified as “Other Loans Specially Mentioned,” “Special Mention,” “Substandard,” “Doubtful,” “Loss,” “Classified,” “Criticized,” “Watch list” or words of similar import, together with the principal amount of and accrued and unpaid interest on each such Loan and the identity of the obligor thereunder, (4) where a reasonable doubt exists as to the timely future collectability of principal and/or interest, whether or not interest is still accruing or the loans are less than 90 days past due, or (5) where a specific reserve allocation exists in connection therewith; and (B) all assets classified by Somerset Bank or any Somerset Bank Subsidiary as real estate acquired through foreclosure or in lieu of foreclosure, including in-substance foreclosures, and all other assets currently held that were acquired through foreclosure or in lieu of foreclosure. SR BANCORP DISCLOSURE SCHEDULE 5.13.2 may exclude any individual loan with a principal outstanding balance of less than $50,000, provided that SR BANCORP DISCLOSURE SCHEDULE 5.13.2 includes, for each category described, the aggregate amount of individual loans with a principal outstanding balance of less than $50,000 that has been excluded.
5.13.3. All loans receivable (including discounts) and accrued interest entered on the books of Somerset Bank and each Somerset Bank Subsidiary arose out of bona fide arm’s-length transactions, were made for good and valuable consideration in the ordinary course of business. To the Knowledge of SR Bancorp, the loans, discounts and the accrued interest reflected on the books of Somerset Bank and the Somerset Bank Subsidiaries are subject to no defenses, set-offs or counterclaims (including, without limitation, those afforded by usury or truth-in-lending laws), subject to the Enforceability Exceptions. Except for loans pledged for collateral ...
Loan Portfolio and Investment Securities. (a) The allowance for loan losses reflected in UA Bank’s audited consolidated balance sheet at December 31, 2014 was, and the allowance for loan losses shown on the unaudited balance sheet for quarterly periods ending after December 31, 2014 was or will be, adequate in all material respects, as of the date thereof, under GAAP.
(b) UA Bank Disclosure Schedule 3.15(b) sets forth a listing, as of September 30, 2015, by account, of: (i) all loans (including loan participations) of UA Bank that have been accelerated during the past twelve months by reason of a default or adverse developments in the condition of the borrower or other events or circumstances affecting the credit of the borrower; (ii) all loan commitments or lines of credit of UA Bank which have been terminated by UA Bank during the past twelve months by reason of a default or adverse developments in the condition of the borrower or other events or circumstances affecting the credit of the borrower; (iii) each borrower, customer or other party which has notified UA Bank during three years preceding the date of this Agreement, or has asserted against UA Bank, in each case in writing, any “lender liability” or similar claim,; (iv) all loans, (A) that are contractually past due 90 days or more in the payment of principal and/or interest, (B) that are on non-accrual status, (C) that are classified as “substandard,” “doubtful,” “loss,” “classified,” “criticized,” “watch list” or “special mention” (or words of similar import) by UA Bank, or any applicable Regulatory Authority, (D) to the Knowledge of UA Bank, as to which a reasonable doubt exists as to the timely future collectability of principal and/or interest, whether or not interest is still accruing or the loans are less than 90 days past due, (E) where a specific reserve allocation exists in connection therewith or (F) that are required to be accounted for as a troubled debt restructuring in accordance with Statement of Financial Accounting Standards No. 15; and (v) all assets classified by UA Bank as real estate acquired through foreclosure or in lieu of foreclosure, including in-substance foreclosures, and all other assets currently held that were acquired through foreclosure or in lieu of foreclosure.
(c) Except for any individual loans with a principal outstanding balance of less than $25,000, all loans receivable (including discounts) and accrued interest entered on the books of UA Bank arose out of bona fide arm’s-length transactions, were ...
Loan Portfolio and Investment Securities. 4.15.1. The allowance for loan losses reflected in Regal Bancorp’s audited consolidated statement of financial condition at December 31, 2021 was, and the allowance for loan losses shown on the balance sheets in Regal Bancorp’s Securities Documents for periods ending after December 31, 2021 will be, adequate, as of the dates thereof, under GAAP.
4.15.2. REGAL BANCORP DISCLOSURE SCHEDULE 4.15.2 sets forth a listing, as of June 30, 2022, by account, of: (A) all loans (including loan participations, which shall be separately identified) of Regal Bank or any other Regal Bancorp Subsidiary that have been accelerated during the past twelve months; (B) all loan commitments or lines of credit of Regal Bank or any other Regal Bancorp Subsidiary that have been terminated by Regal Bank or any other Regal Bancorp Subsidiary during the past twelve months by reason of a default or adverse developments in the condition of the borrower or other events or circumstances affecting the credit of the borrower; (C) all loans, lines of credit and loan commitments as to which Regal Bank or any other Regal Bancorp Subsidiary has given written notice of its intent to terminate during the past twelve months; (D) with respect to all commercial loans (including commercial real estate loans), all notification letters and other written communications from Regal Bank or any other Regal Bancorp Subsidiary to any of their respective borrowers, customers or other parties during the past twelve months wherein Regal Bank or any other Regal Bancorp Subsidiary has requested or demanded that actions be taken to correct existing defaults or facts or circumstances that may become defaults (other than with regard to requests or demands for current financial information from borrowers); (E) each borrower, customer or other party that has notified Regal Bank or any other Regal Bancorp Subsidiary during the past twelve months of, or has asserted against Regal Bank or any other Regal Bancorp Subsidiary, in each case in writing, any “lender liability” or similar claim, and, to the Knowledge of Regal Bank, each borrower, customer or other party that has given Regal Bank or any other Regal Bancorp Subsidiary any oral notification of, or orally asserted to or against Regal Bank or any other Regal Bancorp Subsidiary, any such claim; (F) all loans, (1) that are contractually past due 60 days or more in the payment of principal and/or interest, (2) that are on non-accrual status, (3) that are contractually pa...
Loan Portfolio and Investment Securities. 4.15.1. The allowance for loan losses reflected in the Premier Financial Statements as of September 30, 2016 was, and the allowance for loan losses reflected in the Premier Regulatory Reports for periods ending after September 30, 2016 were or will be, adequate, as of the dates thereof, under GAAP in all material respects.
4.15.2. Premier Disclosure Schedule 4.15.2 sets forth a listing, as of November 30, 2016, by account, of: (i) all current loan commitments of Premier or any Premier Subsidiary, including the material terms of such commitment, (ii) each borrower which has notified Premier or any Premier Subsidiary during three years preceding the date of this Agreement, or has asserted against Premier or any Premier Subsidiary, in each case in writing, any "lender liability" or similar claim, and, to the Knowledge of Premier, each borrower which has given Premier or any Premier Subsidiary any oral notification of, or orally asserted to or against Premier or any Premier Subsidiary, any such claim; (iii) all loans, (A) that are contractually past due 30 days or more in the payment of principal and/or interest, (B) that are on non-accrual status, (C) that are as of the date of this Agreement classified as "substandard," "doubtful," "loss," "classified," "criticized," "watch list" or "special mention" (or words of similar import) by Premier and any Premier Subsidiary, or any applicable Bank Regulator, (D) to the Knowledge of Premier, as to which a reasonable doubt exists as to the timely future collectability of principal and/or interest, whether or not interest is still accruing or the loans are less than 90 days past due, (E) where, a specific reserve allocation exists in connection therewith, or (F) that are required to be accounted for as a troubled debt restructuring in accordance with Accounting Standards Codification 310-40; and (iv) all assets classified by Premier or any Premier Subsidiary as real estate acquired through foreclosure or in lieu of foreclosure, including in-substance foreclosures, and all other assets currently held that were acquired through foreclosure or in lieu of foreclosure.
4.15.3. All loans receivable (including discounts) and accrued interest entered on the books of Premier and the Premier Subsidiaries arose out of bona fide arm's-length transactions, were made for good and valuable consideration in the ordinary course of Premier's or the appropriate Premier Subsidiary's respective business. Premier has not received written no...
Loan Portfolio and Investment Securities. 4.16.1. The allowance for loan losses reflected in the Colonial Financial Financial Statements as of June 30, 2014 was, and the allowance for loan losses reflected in the Colonial Financial Regulatory Reports for periods ending after June 30, 2014 were or will be, adequate, as of the dates thereof, under GAAP in all material respects.
4.16.2. Colonial Financial DISCLOSURE SCHEDULE 4.16.2 sets forth a listing, as of July 31, 2014, by account, of: (i) all loans (including loan participations) of Colonial Financial or any Colonial Financial Subsidiary that have been accelerated during the past twelve months by reason of a default or adverse developments in the condition of the borrower or other events or circumstances affecting the credit of the borrower; (ii) all loan commitments or lines of credit of Colonial Financial or any Colonial Financial Subsidiary that have been terminated by Colonial Financial or any Colonial Financial Subsidiary during the past twelve months by reason of a default or adverse developments in the condition of the borrower or other events or circumstances affecting the credit of the borrower; (iii) each borrower, customer or other party which has notified Colonial Financial or any Colonial Financial Subsidiary during three years preceding the date of this Agreement, or has asserted against Colonial Financial or any Colonial Financial Subsidiary, in each case in writing, any “lender liability” or similar claim, and, to the Knowledge of Colonial Financial, each borrower, customer or other party which has given Colonial Financial or any Colonial Financial Subsidiary any oral notification of, or orally asserted to or against Colonial Financial or any Colonial Financial Subsidiary, any such claim; (iv) all loans, (A) that are contractually past due 90 days or more in the payment of principal and/or interest, (B) that are on non-accrual status, (C) that are as of the date of this Agreement classified as “substandard,” “doubtful,” “loss,” “classified,” “criticized,” “watch list” or “special mention” (or words of similar import) by Colonial Financial and any Colonial Financial Subsidiary, or any applicable Bank Regulator, (D) to the Knowledge of Colonial Financial, as to which a reasonable doubt exists as to the timely future collectability of principal and/or interest, whether or not interest is still accruing or the loans are less than 90 days past due, (E) where, during the past three years, the interest rate terms have been reduced and/o...
Loan Portfolio and Investment Securities. 4.16.1. The reserves, and the allowance for loan and lease losses and the carrying value for real estate owned reflected in the Cheviot Financial Financial Statements as of September 30, 2015 was, and that reflected in the Cheviot Financial Regulatory Reports for periods ending after September 30, 2015 were or will be, adequate, as of the dates thereof, under GAAP in all material respects.
Loan Portfolio and Investment Securities. 4.16.1. The allowance for loan losses reflected in the LNB Bancorp Financial Statements as of September 30, 2014 was, and the allowance for loan losses reflected in the LNB Bancorp Regulatory Reports for periods ending after September 30, 2014 were or will be, adequate, as of the dates thereof, under GAAP in all material respects.
Loan Portfolio and Investment Securities. 4.16.1. The allowance for loan losses reflected in the MutualFirst Financial Financial Statements as of September 30, 2019 was, and the allowance for loan losses reflected in the MutualFirst Financial Regulatory Reports for periods ending after September 30, 2019 were or will be, adequate, as of the dates thereof, under GAAP in all material respects. 4.16.
Loan Portfolio and Investment Securities. 4.15.1. The allowance for loan losses reflected in CNB’s audited consolidated balance sheet at December 31, 2013 was, and the allowance for loan losses shown on the balance sheets in CNB’s Financial Statements for periods ending after December 31, 2013 was, adequate, as of the date thereof, under GAAP.
