Common use of PROFIT PLAN Clause in Contracts

PROFIT PLAN. (1) Within sixty (60) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written profit plan to improve and sustain the earnings of the Bank. This plan shall include, at minimum, the following elements: (a) identification of the major areas in and means by which the Board will seek to improve the Bank's operating performance; (b) realistic and comprehensive budgets, including projected balance sheets and year-end income statements; (c) a budget review process to monitor both the Bank's income and expenses, and to compare actual figures with budgetary projections; and (d) a description of the operating assumptions that form the basis for major projected income and expense components. (2) The budgets and related documents required in paragraph (1) above for 2002 shall be submitted to the Assistant Deputy Comptroller upon completion. The Board shall submit to the Assistant Deputy Comptroller annual budgets as described in paragraph (1) above for each year this Agreement remains in effect. The budget for each year shall be submitted on or before November 30, of the preceding year. (3) The Board shall forward comparisons of its balance sheet, and profit and loss statement to the profit plan projections to the Assistant Deputy Comptroller on a quarterly basis.

PROFIT PLAN. (1) Within sixty (60) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written profit plan to improve and sustain the earnings of the Bank. This plan shall include, at minimum, the following elements: (a) identification of the major areas in and means by which the Board will seek to improve the Bank's operating performance; (b) realistic and comprehensive budgets, including projected balance sheets and year-end income statements; (c) a budget review process to monitor both the Bank's income and expenses, and to compare actual figures with budgetary projections; and (d) a description of the operating assumptions that form the basis for major projected income and expense components. (2) The budgets and related documents required in paragraph (1) above for 2002 2010 shall be submitted to the Assistant Deputy Comptroller upon completion. The Board shall submit to the Assistant Deputy Comptroller annual budgets as described in paragraph (1) above for each year this Agreement remains in effect. The budget for each year shall be submitted on or before November 30December 31st, of the preceding year. (3) The Board shall forward comparisons of its balance sheet, sheet and profit and loss statement to the profit plan projections to the Assistant Deputy Comptroller on a quarterly basis.

PROFIT PLAN. (1) Within sixty (60) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written profit plan to improve and sustain the earnings of the Bank. This plan shall include, at minimum, the following elements: (a) identification of the major areas in and means by which the Board will seek to improve the Bank's operating performance; (b) realistic and comprehensive budgets, including projected balance sheets and year-end income statements; (c) a budget review process to monitor both the Bank's income and expenses, and to compare actual figures with budgetary projections; and (d) a description of the operating assumptions that form the basis for major projected income and expense components. (2) The budgets and related documents required in paragraph (1) above for 2002 2009 shall be submitted to the Assistant Deputy Comptroller upon completion. The Board shall submit to the Assistant Deputy Comptroller annual budgets as described in paragraph (1) above for each year this Agreement remains in effect. The budget for each year shall be submitted on or before November 30, of the preceding year. (3) The Board shall forward comparisons of its balance sheet, sheet and profit and loss statement to the profit plan projections to the Assistant Deputy Comptroller on a quarterly basis.

PROFIT PLAN. (1) Within sixty (60) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written profit plan to improve and sustain the earnings of the Bank. This plan shall include, at a minimum, the following elements: (a) identification of the major areas in and means by which the Board will seek to improve the Bank's operating performance; (b) realistic and comprehensive budgets, including projected balance sheets and year-end income statements; (c) a budget review process to monitor both the Bank's income and expenses, and to compare actual figures with budgetary projections; and (d) a description of the operating assumptions that form the basis for major projected income and expense components. (2) The budgets and related documents required in paragraph (1) above for 2002 2009 shall be submitted to the Assistant Deputy Comptroller upon completion. The Board shall submit to the Assistant Deputy Comptroller annual budgets as described in paragraph (1) above for each year this Formal Agreement remains in effect. The budget for each year shall be submitted on or before November 30, of the preceding year. (3) The Board shall forward comparisons of its balance sheet, sheet and profit and loss statement to the profit plan projections to the Assistant Deputy Comptroller on a quarterly basis.

PROFIT PLAN. (1) Within sixty (60) days, the Board shall develop, implement, implement and thereafter ensure Bank adherence to a written profit plan to improve and sustain the earnings of the Bank. This plan shall continue to include, at minimum, the following elements: (a) identification of the major areas in and means by which the Board will seek to improve the Bank's operating performance; (b) realistic and comprehensive budgets, including projected balance sheets and year-end income statements; (c) a budget review process to monitor both the Bank's income and expenses, and to compare actual figures with budgetary projections; and (d) a description of the operating assumptions that form the basis for major projected income and expense components. (2) The budgets and related documents required in paragraph (1) above for 2002 2009 shall be submitted to the Assistant Deputy Comptroller upon completion. The Board shall submit to the Assistant Deputy Comptroller annual budgets as described in paragraph (1) above for each year this Formal Agreement remains in effect. The budget for each year shall be submitted on or before November 30, of the preceding year. (3) The Board shall forward comparisons of its balance sheet, sheet and profit and loss statement to the profit plan projections to the Assistant Deputy Comptroller on a quarterly basis.

PROFIT PLAN. (1) Within sixty (60) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written profit plan to improve and sustain the earnings of the Bank. This plan shall include, at minimum, the following elements: (a) identification of the major areas in and means by which the Board will seek to improve the Bank's operating performance; (b) realistic and comprehensive budgets, including projected balance sheets and year-end income statements; (c) a budget review process to monitor both the Bank's income and expenses, and to compare actual figures with budgetary projections; and (d) a description of the operating assumptions that form the basis for major projected income and expense components. (2) The budgets and related documents required in paragraph (1) above for 2002 2008 shall be submitted to the Assistant Deputy Comptroller upon completion. The Board shall submit to the Assistant Deputy Comptroller annual budgets as described in paragraph (1) above for each year this Formal Agreement remains in effect. The budget for each year shall be submitted on or before November 30, of the preceding year. (3) The Board shall forward comparisons of its balance sheet, and profit and loss statement to the profit plan projections to the Assistant Deputy Comptroller on a quarterly basis.in

PROFIT PLAN. (1) Within sixty thirty (6030) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written profit plan to improve and sustain the earnings of the Bank. This plan shall include, at minimum, the following elements: (a) identification of the major areas in and means by which the Board will seek to improve the Bank's operating performance; (b) realistic and comprehensive budgets, including projected balance sheets and year-end income statementsstatements for the next three fiscal years; (c) a budget review process to monitor both the Bank's income and expenses, and to compare actual figures with budgetary projections; and (d) a description of the operating assumptions that form the basis for major projected income and expense components. (2) The budgets and related documents required in paragraph (1) above for 2002 shall be submitted to the Assistant Deputy Comptroller upon completion. The Board shall submit to the Assistant Deputy Comptroller annual budgets as described in paragraph (1) above for each year this Agreement remains in effect. The budget for each year shall be submitted on or before November 30, of the preceding year. (3) The Board shall forward comparisons of its balance sheet, and profit and loss statement to the profit plan projections to the Assistant Deputy Comptroller on a quarterly basis.thirty