Common use of Source of Strength Clause in Contracts

Source of Strength. 1. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s financial and managerial resources, pursuant to section 225.4 (a) of Regulation Y of the Board of Governors of the Federal Reserve System (the “Board of Governors”) (12 C.F.R. § 225.4(a)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with the Consent Order entered into with the Federal Deposit Insurance Corporation (“FDIC”) on April 29, 2010 and any other supervisory action taken by the Bank’s federal or state regulator.

Appears in 2 contracts

Samples: www.federalreserve.gov, South Financial Group Inc

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Source of Strength. 1. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s financial and managerial resources, pursuant to section 225.4 (a225.4(a) of Regulation Y of the Board of Governors of the Federal Reserve System (the “Board of Governors”) (12 C.F.R. § 225.4(a)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with the Consent Order Formal Agreement entered into with the Federal Deposit Insurance Corporation (“FDIC”) Office of the Comptroller of the Currency on April 29February 9, 2010 2009 and any other supervisory action taken by the Bank’s federal or state regulator.

Appears in 2 contracts

Samples: Patriot National Bancorp Inc, www.federalreserve.gov

Source of Strength. 1. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s financial and managerial resources, pursuant to section 225.4 38A of the Federal Deposit Insurance Act (athe “FDI Act”) (12 U.S.C. § 1831o-1) and section 225.4(a) of Regulation Y of the Board of Governors of the Federal Reserve System (the “Board of Governors”) (12 C.F.R. § 225.4(a)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with the Consent Order entered into with the Federal Deposit Insurance Corporation (“FDIC”) on April 29, 2010 this Agreement and any other supervisory action taken by the Bank’s federal or state regulatorregulators.

Appears in 2 contracts

Samples: www.federalreserve.gov, www.federalreserve.gov

Source of Strength. 1. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s 's financial and managerial resources, pursuant to section 225.4 (a) of Regulation Y of the Board of Governors of the Federal Reserve System (the "Board of Governors") (12 C.F.R. § 225.4(a)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with the Consent Order entered into with the Federal Deposit Insurance Corporation (“FDIC”) Office of the Comptroller of the Currency on April 29August 25, 2010 2010, and any other supervisory action taken by the Bank’s 's federal or state regulator.

Appears in 1 contract

Samples: www.federalreserve.gov

Source of Strength. 1. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s 's financial and managerial resources, pursuant to section 225.4 (a225.4(a) of Regulation Y of the Board of Governors of the Federal Reserve System (the "Board of Governors") (12 C.F.R. § 225.4(a)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with the Consent Order entered into with the Federal Deposit Insurance Corporation ("FDIC") and the Washington Department of Financial Institutions on April 29September 17, 2010 2010, and any other supervisory action taken by the Bank’s 's federal or state regulator.

Appears in 1 contract

Samples: www.federalreserve.gov

Source of Strength. 1. The board boards of directors of Bancorp the Companies shall take appropriate steps to fully utilize Bancorp’s the Companies’ financial and managerial resources, pursuant to section 225.4 38A of the Federal Deposit Insurance Act, as amended (athe “FDI Act”) (12 U.S.C. § 1831o-1) and section 238.8(a)(1) of Regulation Y LL of the Board of Governors of the Federal Reserve System (the “Board of Governors”) (12 C.F.R. § 225.4(a238.8(a)(1)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with the Consent Order entered into with the Federal Deposit Insurance Corporation (“FDIC”) on April 29Order, 2010 and any other supervisory action taken by the Bank’s federal or state regulator.

Appears in 1 contract

Samples: www.federalreserve.gov

Source of Strength. 1. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s 's financial and managerial resources, pursuant to section 225.4 (a225.4(a) of Regulation Y of the Board of Governors of the Federal Reserve System (the "Board of Governors") (12 C.F.R. § 225.4(a)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with the Consent Order entered into with the Federal Deposit Insurance Corporation ("FDIC") on April 29and the California Department of Financial Institutions dated September 17, 2010 and any other supervisory action taken by the Bank’s 's federal or state regulatorregulators.

Appears in 1 contract

Samples: www.federalreserve.gov

Source of Strength. 1. The Bancshares’ board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s Bancshares’ financial and managerial resources, pursuant to section 225.4 38A of the Federal Deposit Insurance Act (athe “FDI Act”) (12 U.S.C. § 1831o-1) and section 225.4(a) of Regulation Y of the Board of Governors of the Federal Reserve System (the “Board of Governors”) (12 C.F.R. § 225.4(a)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with the Consent Order entered into with the Federal Deposit Insurance Corporation (“FDIC”) on April 29this Agreement, 2010 and any other supervisory action taken by the Bank’s federal or state regulatorregulators.

Appears in 1 contract

Samples: www.federalreserve.gov

Source of Strength. 1. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s financial and managerial resources, pursuant to section Section 225.4 (a) of Regulation Y of the Board of Governors of the Federal Reserve System (the “Board of Governors”) (12 C.F.R. § 225.4(a)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with the Consent Order consent order entered into with the Federal Deposit Insurance Corporation (“FDIC”) and the California Department of Financial Institutions on April 29March 4, 2010 2010, and any other supervisory action taken by the Bank’s federal or state regulator.

Appears in 1 contract

Samples: www.federalreserve.gov

Source of Strength. 1. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s financial and managerial resources, pursuant to section 225.4 (a) of Regulation Y of the Board of Governors of the Federal Reserve System (the “Board of Governors”) (12 C.F.R. § 225.4(a)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with the Consent Order entered into with the Federal Deposit Insurance Corporation (“FDIC”) Office of the Comptroller of the Currency on April 29September 1, 2010 and any other supervisory action taken by the Bank’s federal or state regulator.

Appears in 1 contract

Samples: First National Community Bancorp Inc

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Source of Strength. 1. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s financial and managerial resources, pursuant to section 225.4 (a) of Regulation Y of the Board of Governors of the Federal Reserve System (the “Board of Governors”) (12 C.F.R. § 225.4(a)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with the Consent Order entered into issued by with the Federal Deposit Insurance Corporation (“FDIC”) Office of the Comptroller of the Currency on April 29May 12, 2010 2010, and any other supervisory action taken by the Bank’s federal or state regulator.

Appears in 1 contract

Samples: www.federalreserve.gov

Source of Strength. 1. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s financial and managerial resources, pursuant to section 225.4 (a225.4(a) of Regulation Y of the Board of Governors of the Federal Reserve System (the “Board of Governors”) (12 C.F.R. § 225.4(a)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with the Consent Order entered into with the Federal Deposit Insurance Corporation (“FDIC”) and the Illinois Department of Financial and Professional Regulation on April 29February 24, 2010 2010, and any other supervisory action taken by the Bank’s federal or state regulator.

Appears in 1 contract

Samples: www.federalreserve.gov

Source of Strength. 1. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s 's financial and managerial resources, pursuant to section 225.4 (a225.4(a) of Regulation Y of the Board of Governors of the Federal Reserve System (the "Board of Governors") (12 C.F.R. § 225.4(a)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with the Consent Order entered into with the Federal Deposit Insurance Corporation ("FDIC") on April 29August 27, 2010 and any other supervisory action taken by the Bank’s 's federal or state regulator.

Appears in 1 contract

Samples: www.federalreserve.gov

Source of Strength. 1. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s 's financial and managerial resources, pursuant to section 225.4 (a) of Regulation Y of the Board of Governors of the Federal Reserve System (the "Board of Governors") (12 C.F.R. § 225.4(a)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with the Consent Order Formal Agreement entered into with the Federal Deposit Insurance Corporation (“FDIC”) Office of the Comptroller of the Currency on April 29August 20, 2010 2010, and any other supervisory action taken by the Bank’s 's federal or state regulator.

Appears in 1 contract

Samples: www.federalreserve.gov

Source of Strength. 1. The board of directors of Bancorp Xxxxxx shall take appropriate steps to fully utilize BancorpXxxxxx’s financial and managerial resources, pursuant to section 225.4 (a225.4(a) of Regulation Y of the Board of Governors of the Federal Reserve System (the “Board of Governors”) (12 C.F.R. § 225.4(a)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with the Consent Order which the Bank entered into with the Federal Deposit Insurance Corporation (the “FDIC”) and the DFCS on April 29March 2, 2010 2010, and any other supervisory action taken by the Bank’s federal or state regulatorregulators.

Appears in 1 contract

Samples: www.federalreserve.gov

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