Common use of LOAN REVIEW Clause in Contracts

LOAN REVIEW. (1) Within sixty (60) days, the Association shall adopt a formal loan review policy that provides comprehensive detail regarding the necessary qualifications of loan review personnel, establishes reporting criteria including the frequency and scope of reviews, and ensures the loan review function incorporates the following: (2) Within sixty (60) days, the Board shall establish an effective, independent and on-going loan review system to review, at least quarterly, the Association'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 OTS CEO Memo 140, OTS Examination Handbook Section 260, and the Interagency Policy Statement on the Allowance for Loan and Lease Losses (December 2006). Such reports shall include, at a minimum, conclusions regarding: (a) 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) credit and collateral documentation exceptions; (e) the identification and status of credit related violations of law, rule or regulation; (f) the identity of the loan officer who originated each loan reported in accordance with subparagraphs (b) through (e) of the Article; (g) concentrations of credit; (h) loans and leases to executive officers, directors, principal shareholders (and their related interests) of the Association; and (i) loans and leases not in conformance with the Association's lending and leasing policies, and exceptions to the Association’s lending and leasing policies. (j) the accrual status of loans under review; (k) the adequacy of impairment analyses. (l) system for monitoring compliance with the Association's lending policies and laws, rules, and regulations pertaining to the Association's lending function; and (3) A written description of the program called for in this Article shall be forwarded to the Assistant Deputy Comptroller upon implementation. (4) The Board shall evaluate the internal loan and lease 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). (5) A copy of the reports submitted to the Board, as well as documentation of the action taken by the Association to collect or strengthen assets identified as problem credits, shall be preserved in the Association. (6) The Board shall ensure that the Association has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.

LOAN REVIEW. (1) Within sixty (60) days, the Association shall adopt a formal loan review policy that provides comprehensive detail regarding the necessary qualifications of loan review personnel, establishes reporting criteria including the frequency and scope of reviews, and ensures the loan review function incorporates the following: (2) Within sixty (60) days, the The Board shall establish maintain an effective, independent independent, and on-going loan review system program to review, at least quarterly, the AssociationBank's loan and lease portfolios portfolios, to assure the timely identification and categorization of problem credits. The system program shall provide for a written report to be filed with the Board promptly after each review review, with a copy submitted to the Director, and shall use employ a loan and lease grading rating system consistent with the guidelines set forth in OTS CEO Memo 140, OTS Examination Handbook Section 260, “Rating Credit Risk” and the Interagency Policy Statement on the “Allowance for Loan and Lease Losses (December 2006)Losses,” booklets A-RCR and A- ALLL, respectively, of the Comptroller’s Handbook. Such reports shall include, at a minimum, conclusions regarding: (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) credit and collateral documentation exceptions; (e) loans meeting the identification and status of credit related violations of law, rule or regulationcriteria for nonaccrual status; (f) the identity of the loan officer who originated of each loan reported in accordance with subparagraphs (b) through (e) of the Article); (g) the identification and status of credit-related violations of law, rule, or regulation; (h) concentrations of credit; (hi) loans and leases to the directors, executive officers, directors, and principal shareholders (of the Bank and to their related interests) of the Association; and (ij) loans and leases not in conformance nonconformance with the AssociationBank's lending and leasing policies, and exceptions to the AssociationBank’s lending and leasing policies. (j) the accrual status of loans under review; (k) the adequacy of impairment analyses. (l) system for monitoring compliance with the Association's lending policies and laws, rules, and regulations pertaining to the Association's lending function; and (3) A written description of the program called for in this Article shall be forwarded to the Assistant Deputy Comptroller upon implementation. (42) The Board shall evaluate the internal loan and lease review report(s) and shall ensure that immediate, adequate, and continuing remedial action, if as appropriate, is taken upon all findings noted in the report(s). (5) A copy of the reports submitted to the Board, as well as documentation of the action taken by the Association to collect or strengthen assets identified as problem credits, shall be preserved in the Association. (6) The Board shall ensure that the Association has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.

LOAN REVIEW. (1) Within sixty ninety days (60) days, the Association shall adopt a formal loan review policy that provides comprehensive detail regarding the necessary qualifications of loan review personnel, establishes reporting criteria including the frequency and scope of reviews, and ensures the loan review function incorporates the following: (2) Within sixty (60) days90), the Board shall establish an effective, independent and on-going loan review system to review, at least quarterly, the AssociationBank'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 OTS CEO Memo 140, OTS Examination Handbook Section 260, “Rating Credit Risk” and the Interagency Policy Statement on the “Allowance for Loan and Lease Losses (December 2006)Losses” booklets of the Comptroller’s Handbook. Such reports shall include, at a minimum, conclusions regarding: (a) 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) credit and collateral documentation exceptions; (e) the identification and status of credit related violations of law, rule or regulation; (f) the identity of the loan officer who originated each loan reported in accordance with subparagraphs (b) through (e) of the Article; (g) concentrations of credit; (h) loans and leases to executive officers, directors, principal shareholders (and their related interests) of the AssociationBank; and (i) loans and leases not in conformance with the AssociationBank's lending and leasing policies, and exceptions to the AssociationBank’s lending and leasing policies. (j) the accrual status of loans under review; (k) the adequacy of impairment analyses. (l) system for monitoring compliance with the Association's lending policies and laws, rules, and regulations pertaining to the Association's lending function; and (32) A written description of the program called for in this Article shall be forwarded to the Assistant Deputy Comptroller upon implementation. (43) The Board shall evaluate the internal loan and lease 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). (54) A copy of the reports submitted to the Board, as well as documentation of the action taken by the Association Bank to collect or strengthen assets identified as problem credits, shall be preserved in the AssociationBank. (6) The Board shall ensure that the Association has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.

LOAN REVIEW. (1) Within sixty (60) days, the Association shall adopt a formal loan review policy that provides comprehensive detail regarding the necessary qualifications days of loan review personnel, establishes reporting criteria including the frequency and scope of reviews, and ensures the loan review function incorporates the following: (2) Within sixty (60) daysthis Agreement, the Board shall establish an effective, independent and on-going ongoing loan review system to review, at least quarterly, review the Association's 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 OTS CEO Memo 140, OTS Examination Handbook Section 260, the “Rating Credit Risk” and the Interagency Policy Statement on the “Allowance for Loan and Lease Losses (December 2006)Losses” booklets of the Comptroller’s Handbook. Such reports shall include, at a minimum, conclusions regarding: (a) 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) credit and collateral documentation exceptions; (e) concentrations of credit; (f) follow up on previously noted deficiencies listed in either regulatory examination reports or internal loan review reports; (g) the identification and status of credit related violations of law, rule or regulation; (f) the identity of the loan officer who originated each loan reported in accordance with subparagraphs (b) through (e) of the Article; (g) concentrations of credit; (h) loans and leases to executive officers, directors, principal shareholders (and their related interests) of the Association; and (ih) loans and leases not in conformance with the Association's Bank’s lending and leasing policies, and exceptions to the AssociationBank’s lending and leasing policies. (j) the accrual status of loans under review; (k) the adequacy of impairment analyses. (l) system for monitoring compliance with the Association's lending policies and laws, rules, and regulations pertaining to the Association's lending function; and (32) A written description of the program called for in this Article shall be forwarded to the Assistant Deputy Comptroller upon implementation. (43) The Board shall evaluate the internal loan and lease 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). (54) A copy of the reports submitted to the Board, as well as documentation of the action taken by the Association Bank to collect or strengthen assets identified as problem credits, shall be preserved in the AssociationBank. (6) The Board shall ensure that the Association has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.