Common use of Loans and Deposits Clause in Contracts

Loans and Deposits. (a) Except as set forth in the Company Disclosure Schedule, neither the Company nor the Bank is a party to any written or oral (i) loan, loan agreement, note or borrowing arrangement (including, without limitation, leases, credit enhancements, commitments, guarantees and interest-bearing assets) (collectively, “Loans”), as of March 31, 2005, over ninety (90) days delinquent in payment of principal or interest or, to the knowledge of the Bank, is in violation of a material non-monetary covenant or obligation, or (ii) as of March 31, 2005, Loan with any director, executive officer or five percent (5%) or greater stockholder of the Company, or, to the knowledge of the Company, any person, corporation or enterprise controlling, controlled by or under common control with any of the foregoing. Section 4.20(a) of the Company Disclosure Schedule sets forth (x) all of the Loans of the Bank or the Company that as of March 31, 2005 were classified by any internal or external examiner as “Other Loans Specially Mentioned,” “Special Mention,” “Substandard,” “Doubtful,” “Loss,” “Classified,” “Criticized,” “Credit Risk Assets,” “Concerned Loans,” “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 borrower thereunder, (y) by category of Loan (i.e., commercial, consumer, etc.) all of the Loans of the Bank which were classified as of March 31, 2005, and (z) each asset of the Company or the Bank that as of December 31, 2004, was classified as “Other Real Estate Owned” and the book value thereof. (b) Each Loan (i) is evidenced by notes, written agreements or other written evidences of indebtedness that are true, correct, complete and what they purport to be, (ii) to the extent secured, has been secured by valid Liens which have been perfected, and (iii) is the legal, valid and binding obligation of the obligor named therein, enforceable in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance and other laws of general applicability relating to or affecting creditors’ rights and to general equity principles. (c) As of May 18, 2005, deposits in the Bank of shareholders, directors and executive officers of the Bank amounted to no more than $33,000,000 and such deposits earned interest at rates comparable to those on other deposits of comparable size and maturity. Within 7 calendar days of the date of this Agreement, Company will provide Buyer with verification of the accuracy of the foregoing figure, including a list of such accounts and deposits as of March 31, 2005.

Loans and Deposits. (a) Except as set forth in listed on Section 4.19(a) of the Company Disclosure Schedule, as of October 31, 2006, neither the Company nor any of the Bank Company’s Subsidiaries is a party to any written or oral (i) loan, loan agreement, note or borrowing arrangement (including, without limitation, leases, credit enhancements, commitments, guarantees and interest-bearing assets) (collectively, “Loans”), as of March 31, 2005, ) over ninety (90) days delinquent in payment of principal or interest or, to the knowledge of the BankCompany or any of the Company’s Subsidiaries, is in violation of a material non-monetary covenant or obligation, or (ii) as of March 31, 2005, Loan with any director, executive officer or five percent (55.0%) or greater stockholder shareholder of the Company, or, to the knowledge of the Company or any of the Company’s Subsidiaries, any person, corporation or enterprise controlling, controlled by or under common control with any of the foregoing. Section 4.20(a4.19(a) of the Company Disclosure Schedule sets forth (x) all of the Loans of the Bank Company or any of the Company Company’s Subsidiaries that as of March October 31, 2005 2006 were classified by any internal or external examiner as “Other Loans Specially Mentioned,” “Special Mention,” “Substandard,” “Doubtful,” “Loss,” “Classified,” “Criticized,” “Credit Risk Assets,” “Concerned Loans,” “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 borrower thereunder, (y) by category of Loan (i.e., commercial, consumer, etc.) all of the Loans of the Bank Company or any of the Company’s Subsidiaries which were classified as of March October 31, 20052006, and (z) each asset of the Company or any of the Bank Company’s Subsidiaries that as of December October 31, 20042006, was classified as “Other Real Estate Owned” and the book value thereof. (b) Each Loan in excess of $50,000 (i) is evidenced by notes, written agreements or other written evidences of indebtedness that are true, correct, complete and what they purport to be, (ii) to the extent secured, has been secured by valid Liens which have been perfected, and (iii) to the knowledge of the Company, is the legal, valid and binding obligation of the obligor named therein, enforceable in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance and other laws of general applicability relating to or affecting creditors’ rights and to general equity principles. (c) As Section 4.19(c)-1 of May 18the Company Disclosure Schedule sets forth a true and accurate list as of October 31, 20052006 of all of the Company’s Loans in excess of $1 million together with the then-current balance of and accrued interest on each such Loan, the identity of the borrower thereunder (including a brief description of the nature of the business conducted by such borrower), and the category of Loan (i.e., commercial, consumer, etc.). Section 4.19(c)-2 of the Company Disclosure Schedule sets forth a true and correct and complete list as of October 31, 2006 of all of the Company’s depositors with deposits in excess of $500,000 together with the Bank of shareholders, directors amount thereof and executive officers the identity of the Bank amounted to no more than $33,000,000 and such deposits earned interest at rates comparable to those on other deposits of comparable size and maturity. Within 7 calendar days depositor (including a brief description of the date of this Agreement, Company will provide Buyer with verification nature of the accuracy of the foregoing figure, including a list of business conducted by such accounts and deposits as of March 31, 2005depositor).

Loans and Deposits. (a) Except as set forth in the Company Disclosure Schedule, neither the Company nor the Bank any of its Subsidiaries is a party to any written or oral (i) loan, loan agreement, note or borrowing arrangement (including, without limitation, leases, credit enhancements, commitments, guarantees and interest-bearing assets) (collectively, “Loans”), as of March 31, 2005, over ninety (90) days delinquent in payment of principal or interest or, to the knowledge of the BankCompany, is in violation of a material non-monetary covenant or obligation, or (ii) as of March 31, 2005, Loan with any director, executive officer or five percent (5%) or greater stockholder shareholder of the Company, or, to the knowledge of the Company, any person, corporation or enterprise controlling, controlled by or under common control with any of the foregoing. Section 4.20(a) of the Company Disclosure Schedule sets forth (x) all of the Loans of the Bank or the Company that as of March 31, 2005 were classified by any internal or external examiner as “Other Loans Specially Mentioned,” “Special Mention,” “Substandard,” “Doubtful,” “Loss,” “Classified,” “Criticized,” “Credit Risk Assets,” “Concerned Loans,” “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 borrower thereunder, (y) by category of Loan (i.e., commercial, consumer, etc.) all of the Loans of the Bank Company which were classified as of March 31, 2005, and (z) each asset of the Company or the Bank that as of December 31, 2004, was classified as “Other Real Estate Owned” and the book value thereof. (b) Each Loan (i) is evidenced by notes, written agreements or other written evidences of indebtedness that are true, correct, complete and what they purport to be, (ii) to the extent secured, has been secured by valid Liens which have been perfected, and (iii) is the legal, valid and binding obligation of the obligor named therein, enforceable in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance and other laws of general applicability relating to or affecting creditors’ rights and to general equity principles. (c) As of May 18, 2005, deposits Deposits in the Bank Company of shareholders, directors and executive officers of the Bank amounted Company amount to no more than $33,000,000 2,500,000 and such deposits earned earn interest at rates comparable to those on other deposits of comparable size and maturity. Within 7 seven (7) calendar days of the date of this Agreement, the Company will provide Buyer with verification of the accuracy of the foregoing figurefigure as of the date of this Agreement, including a list of such accounts and deposits as of March 31, 2005the date of this Agreement.

Loans and Deposits. (a) Except as set forth in the Company Disclosure ScheduleAs of August 31, 2006, neither the Company nor the Bank any of its Subsidiaries is a party to any written or oral (i) loan, loan agreement, note or borrowing arrangement (including, without limitation, leases, credit enhancements, commitments, guarantees and interest-bearing assets) (collectively, “Loans”), as of March 31, 2005, ) over ninety (90) days delinquent in payment of principal or interest or, to the knowledge of the BankCompany, is in violation of a material non-monetary covenant or obligation, or (ii) as of March August 31, 20052006, Loan with any director, executive officer or five percent (55.0%) or greater stockholder shareholder of the Company, or, to the knowledge of the Company, any person, corporation or enterprise controlling, controlled by or under common control with any of the foregoing. Section Schedule 4.20(a) of the Company Disclosure Schedule sets forth (x) all of the Loans of the Bank Company or the Company any of its Subsidiaries that as of March August 31, 2005 2006 were classified by any internal or external examiner as “Other Loans Specially Mentioned,” “Special Mention,” “Substandard,” “Doubtful,” “Loss,” “Classified,” “Criticized,” “Credit Risk Assets,” “Concerned Loans,” “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 borrower thereunder, (y) by category of Loan (i.e., commercial, consumer, etc.) all of the Loans of the Bank Company or any of its Subsidiaries which were classified as of March August 31, 20052006, and (z) each asset of the Company or the Bank any of its Subsidiaries that as of December August 31, 20042006, was classified as “Other Real Estate Owned” and the book value thereof. (b) Each Loan (i) is evidenced by notes, written agreements or other written evidences of indebtedness that are true, correct, complete and what they purport to be, (ii) to the extent secured, has been secured by valid Liens which have been perfected, and (iii) is the legal, valid and binding obligation of the obligor named therein, enforceable in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance and other laws of general applicability relating to or affecting creditors’ rights and to general equity principles. (c) As of May 18, 2005, deposits Deposits in the Bank of shareholdersshareholders of record or any shareholders of five percent (5%) or more of any class of Company Capital Stock, directors and executive officers of the Bank amounted Company and of its Subsidiaries amount to no more than an aggregate of $33,000,000 31.9 million as of August 31, 2006 and such deposits earned earn interest at rates comparable to those on other deposits of comparable size and maturity. Within 7 seven (7) calendar days of the date of this Agreement, the Company will provide Buyer with verification of the accuracy of the foregoing figurefigure as of the date of this Agreement, including a list of such accounts and deposits as of March the date of this Agreement. (d) Section 4.20(d)-1 of the Company Disclosure Schedule sets forth a true and accurate list as of August 31, 20052006 of all of the Company’s Loans in excess of $3.0 million together with the principal amount of and accrued and unpaid interest on each such Loan, the identity of the borrower thereunder (including a brief description of the nature of the business conducted by such borrower), and the category of Loan (i.e., commercial, consumer, etc.). Schedule 4.20(d)-2 sets forth a true and correct and complete list as of August 31, 2006 of all of the Company’s depositors with deposits in excess of $500,000 together with the amount thereof and the identity of the depositor (including a brief description of the nature of the business conducted by such depositor).