LOAN REVIEW. (1) The Board shall employ or designate a sufficiently experienced and qualified person(s) or firm to ensure the timely and independent identification of problem loans and leases.
(2) Within sixty (60) days from the effective date of this Agreement, the Board shall establish an effective, independent and on-going loan review system to review, at least quarterly, the Bank's loan and lease portfolios to assure the timely identification and categorization of problem credits. The system shall provide for a written report to be filed with the Board after each review and shall use a loan and lease grading system consistent with the guidelines set forth in Rating Credit Risk, A-RCR, of the Comptroller’s Handbook. Such reports shall, at a minimum, include:
(a) conclusions regarding the overall quality of the loan and lease portfolios;
(b) the identification, type, rating, and amount of problem loans and leases;
(c) the identification and amount of delinquent loans and leases;
(d) the identification of credit and collateral documentation exceptions;
(e) the identification of loans meeting the criteria for nonaccrual status;
(f) the identification and status of credit related violations of law, rule or regulation;
(g) the identification of loans and leases not in conformance with the Bank's lending and leasing policies, including approved exceptions to the Bank’s lending and leasing policies;
(h) the identity of the loan officer who originated or is responsible for each loan reported in accordance with subparagraphs (b) through (g) of this paragraph;
(i) the identification of concentrations of credit; and
(j) the identification of loans and leases to executive officers, directors, principal shareholders (and their related interests) of the Bank.
(3) The Board shall evaluate the loan review report(s) and shall ensure that immediate, adequate, and continuing remedial action, if appropriate, is taken upon all findings noted in the report(s).
(4) A copy of the reports submitted to the Board, as well as documentation of the action taken by the Bank to collect or strengthen assets identified as problem credits, shall be preserved in the Bank.
LOAN REVIEW. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the OFR an acceptable written program for the on-going review and grading of the Bank’s loan portfolio by a qualified independent third party or by qualified staff that is independent of the Bank’s credit granting function. The program shall, at a minimum, address, consider, and include:
LOAN REVIEW. (1) The Board shall review, revise, and thereafter ensure adherence to a Loan Review Program, that at a minimum:
(a) Assigns risk ratings on credits reviewed that are consistent with the guidelines set forth in “Rating Credit Risk” and “Allowance for Loan and Lease Losses” booklets of the Comptroller’s Handbook;
(b) Operates independently from Bank management and that specifically prohibits management from overturning any downgrades made or recommended by Loan Review;
(c) Is adequately staffed; and
(d) Recognizes loan losses and records charge-offs in a timely manner in accordance with Generally Accepted Accounting Principles (“GAAP”).
(2) The Loan Review Program shall require that a written report be submitted to the Board after each review, but at least quarterly. Such reports shall include, at a minimum, comments and conclusions regarding:
(a) The loan review scope and coverage parameters;
(b) The overall quality of loan and lease portfolios reviewed;
(c) The identification, type, rating, and amount of problem loans and leases, including grading differences;
(d) The identification, type and amount of charged off loans;
(e) The identification and amount of delinquent loans and leases;
(f) The identification and amount of performing loans that have extended terms;
(g) The identification of credit and collateral documentation exceptions;
(h) The identification and status of credit related violations of law, rule or regulation;
(i) Loans and leases identified as exceptions to the Bank’s Loan Policy;
(j) The identity of the loan officer who originated each loan reported in accordance with subparagraphs (c) through (i) of this Paragraph; and
(k) Any recommendations for improvements.
(3) The revised Loan Review Program shall also require an annual report to the Board containing an independent reviewer’s assessment of the Bank’s systems to:
(a) Accurately identify and risk rate problem credits based on lending officer submissions;
(b) Measure, monitor and control risk in significant credit concentrations;
(c) Evaluate the repayment ability of real estate construction and development borrowers with multiple projects;
(d) Evaluate guarantor support of real estate construction and development projects;
(e) Monitor compliance with the Bank's lending policies and applicable laws, rules, and regulations; and
(f) Monitor and control the volume of credit and collateral documentation exceptions.
(4) A written description of the Loan Review Program called for in this Art...
LOAN REVIEW. CUB shall afford to PC Bancorp and PCB and their authorized agents and representatives, access, during normal business hours, to the operations, books, and other information relating to CUB for the purposes of conducting a review of loans, securities and xxxxxx to determine compliance with this Agreement.
LOAN REVIEW. (1) Within thirty (30) days, the Board shall establish an effective, independent, and on-going loan review program to review, at least quarterly, the Bank's loan and lease portfolios, to assure the timely identification and categorization of problem credits. The program shall provide for a written report to be filed with the Board promptly after each review, and the program shall employ a loan and lease rating system consistent with the guidelines set forth in "Rating Credit Risk" and "Allowance for Loan and Lease Losses," Booklets A-RCR and A- ALLL, respectively, of the Comptroller's Handbook. Such reports shall include, at a minimum:
(a) the loan review scope and coverage parameters;
(b) conclusions regarding the overall quality of the loan and lease portfolios;
(c) the identification, type, rating, and amount of problem loans and leases;
(d) the identification and amount of delinquent loans and leases;
(e) credit and collateral documentation exceptions;
(f) loans meeting the criteria for non-accrual status;
(g) the identity of the loan officer(s) of each loan reported in accordance with subparagraphs (b) through (e);
(h) the identification and status of credit-related violations of law, rule, or regulation;
(i) concentrations of credit; and
(j) loans and leases in nonconformance with the Bank's lending and leasing policies, and exceptions to the Bank's lending and leasing policies.
(2) The Board shall evaluate the loan and lease review report(s) and shall ensure that immediate, adequate, and continuing remedial action, as appropriate, is taken upon all findings noted in the report(s). The Board shall also ensure that the Bank preserves documentation of any actions to collect or strengthen assets identified as problem credits.
LOAN REVIEW. (1) Within sixty (60) days, the Board shall establish a written, effective, independent and ongoing loan review system to review, at least quarterly, the Bank's loan portfolio to assure the timely identification and categorization of problem credits. The system shall provide for a written report to be filed with the Board after each review and shall use a loan classification grading system consistent with 12 C.F.R. § 160.160 as well as the guidelines set forth in “Interagency Policy Statement on the Allowance for Loan and Lease Losses” OCC Bulletin 2006-47,
(a) qualifications and independence of loan review personnel;
(b) the scope and depth of loan review;
(c) the overall quality of the loan portfolio;
(d) the identification, type, rating, and amount of problem loans;
(e) the identification and amount of delinquent loans;
(f) credit and collateral documentation exceptions;
(g) the identification and status of credit related violations of law, rule or regulation;
(h) concentrations of credit;
(i) loans to executive officers, directors, principal shareholders (and their related interests) of the Bank;
(j) loans not in conformance with the Bank's lending policy, and exceptions to the Bank’s lending policy;
(k) the accrual status of loans under review;
(l) the adequacy of impairment analyses; and
(m) the system for monitoring compliance with the Bank's lending policies and laws, rules, and regulations pertaining to the Bank's lending function.
(2) Prior to adoption by the Board, a copy of the written loan review system, and any subsequent amendments or revisions, shall be forwarded to the Assistant Deputy Comptroller for a prior written determination of no supervisory objection. Upon receiving a written determination of no supervisory objection from the Assistant Deputy Comptroller, the Board shall adopt and the Bank shall immediately implement and adhere to the loan review system.
(3) The Board shall evaluate the internal loan review report(s) and shall ensure that immediate, adequate, and continuing remedial action, if appropriate, is taken upon all findings noted in the report(s).
(4) A copy of the reports submitted to the Board, as well as documentation of the action taken by the Bank to collect or strengthen assets identified as problem credits, shall be preserved in the Bank.
LOAN REVIEW. Until the Effective Date, SRNB will submit to NVBancorp upon request (but not less often than monthly) a list of loans that may reasonably be described as or are included in any of the following categories or specifications:
(i) any new stand-alone extension of credit over One Hundred Thousand Dollars ($100,000), (ii) any restructured loan as defined under SFAS 15, regardless of amount, (iii) any renewal or xxxxxxx xx xxxxx xxxxxx xx xxxxxx xf an existing loan over Fifty Thousand Dollars ($50,000), and (iv) any renewal of an existing loan previously classified by management or internal policy or procedure of SRNB, or by any outside review examiner, accountant or any bank regulatory authority as "Non-Accrual," "Watch," "Other Assets Specially Mentioned," "Substandard," "Doubtful," or "Loss," or classified using categories or words with similar import, in a commitment amount over Twenty-five Thousand Dollars ($25,000) or where the aggregate debt of the borrower and its affiliates and/or related interests will exceed Twenty-five Thousand Dollars ($25,000). SRNB will provide to NVBancorp a copy of the loan approval/credit write-up and supporting information on any loan described in subsections (i), (ii), (iii) or (iv) above at the time of delivery of such list of loans. Copies of such supporting information shall be returned to SRNB within seven (7) days of receipt.
LOAN REVIEW. Consistent with GAAP and so long as and to the extent not inconsistent with applicable laws, First Charter agrees that on or before the Effective Time based on a review of First Charter’s loan losses, current classified assets and commercial, multi-family and residential mortgage loans and investment portfolio, First Charter will work with Fifth Third in good faith with the goal of establishing collection procedures, internal valuation reviews, credit policies and practices and general valuation allowances which are consistent with the guidelines used within the Fifth Third system, provided that no adjustment to general valuation allowances or reserves shall be made until immediately prior to the Effective Time and all conditions precedent to the obligations of the parties hereto have either been satisfied or waived as confirmed by such parties in writing. Fifth Third shall provide such assistance and direction to First Charter as is necessary in conforming to such polices, practices, procedures and asset dispositions which are mutually agreeable between the date of this Agreement until the Effective Time. No actions taken by First Charter at the request of Fifth Third pursuant to this Section 5.4 shall constitute or be deemed to be a breach, violation of or failure to satisfy any representation, warranty, covenant, agreement, condition or other provision of this Agreement or otherwise be considered in determining whether any such breach, violation or failure to satisfy shall have occurred.
LOAN REVIEW. Loan review provides loan and lease review services for the Parties. The expense reimbursement method is based on number of hours incurred by the applicable Party.
LOAN REVIEW. Consistent with GAAP and so long as and to the extent not inconsistent with applicable laws, GB&T agrees that on or before the Effective Time based on a review of GB&T's loan losses, current classified assets and commercial, multi-family and residential mortgage loans and investment portfolio, GB&T will work with SunTrust in good faith with the goal of establishing collection procedures, internal valuation reviews, credit policies and practices and general valuation allowances which are consistent with the guidelines used in the SunTrust system, provided that no adjustment to general valuation allowances or reserves shall be made until immediately prior to the Effective Time and all conditions precedent to the obligations of the parties hereto have either been satisfied or waived as confirmed by such parties in writing. SunTrust shall provide such assistance and direction to GB&T as is necessary in conforming such policies, practices, procedures and asset dispositions which are mutually agreeable between the date of this Agreement and the Effective Time. No actions taken by GB&T at the request of SunTrust pursuant to this Section 5.4 shall constitute or be deemed to be a breach, violation of or failure to satisfy any representation, warranty, covenant, agreement, condition or other provision of this Agreement or otherwise be considered in determining whether any such breach, violation or failure to satisfy have occurred.
