Common use of Source of Strength Clause in Contracts

Source of Strength. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s financial and managerial resources, pursuant to section 38A of the Federal Deposit Insurance Act (the “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 this Agreement and any other supervisory action taken by the Bank’s federal or state regulators.

Appears in 2 contracts

Samples: Written Agreement, Written Agreement

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Source of Strength. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s financial and managerial resources, pursuant to section 38A of the Federal Deposit Insurance Act (the “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 this the Formal Agreement entered into with the Office of the Comptroller of the Currency on February 9, 2009 and any other supervisory action taken by the Bank’s federal or state regulatorsregulator.

Appears in 2 contracts

Samples: Written Agreement (Patriot National Bancorp Inc), Written Agreement

Source of Strength. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s financial and managerial resources, pursuant to section 38A of the Federal Deposit Insurance Act Section 225.4 (the “FDI Act”) (12 U.S.C. § 1831o-1) and section 225.4(aa) 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 this Agreement the consent order entered into with the Federal Deposit Insurance Corporation and the California Department of Financial Institutions on March 4, 2010, and any other supervisory action taken by the Bank’s federal or state regulatorsregulator.

Appears in 1 contract

Samples: Written Agreement

Source of Strength. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s financial and managerial resources, pursuant to section 38A of the Federal Deposit Insurance Act 225.4 (the “FDI Act”) (12 U.S.C. § 1831o-1) and section 225.4(aa) 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 this Agreement the Consent Order entered into with the Office of the Comptroller of the Currency on September 1, 2010 and any other supervisory action taken by the Bank’s federal or state regulatorsregulator.

Appears in 1 contract

Samples: Written Agreement (First National Community Bancorp Inc)

Source of Strength. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s 's financial and managerial resources, pursuant to section 38A of the Federal Deposit Insurance Act (the “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 this Agreement the Consent Order entered into with the Federal Deposit Insurance Corporation ("FDIC") and the California Department of Financial Institutions dated September 17, 2010 and any other supervisory action taken by the Bank’s 's federal or state regulators.

Appears in 1 contract

Samples: Written Agreement

Source of Strength. The board of directors of Bancorp Xxxxxx shall take appropriate steps to fully utilize BancorpXxxxxx’s financial and managerial resources, pursuant to section 38A of the Federal Deposit Insurance Act (the “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 this Agreement the Consent Order which the Bank entered into with the Federal Deposit Insurance Corporation (the “FDIC”) and the DFCS on March 2, 2010, and any other supervisory action taken by the Bank’s federal or state regulators.

Appears in 1 contract

Samples: Written Agreement

Source of Strength. 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 38A of the Federal Deposit Insurance Act Act, as amended (the “FDI Act”) (12 U.S.C. § 1831o-1) and section 225.4(a238.8(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 this Agreement the Consent Order, and any other supervisory action taken by the Bank’s federal or state regulatorsregulator.

Appears in 1 contract

Samples: Written Agreement

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Source of Strength. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s financial and managerial resources, pursuant to section 38A of the Federal Deposit Insurance Act (the “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 this Agreement and any other supervisory action taken by the Bank’s federal or state regulators.

Appears in 1 contract

Samples: Written Agreement

Source of Strength. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s 's financial and managerial resources, pursuant to section 38A of the Federal Deposit Insurance Act (the “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 this Agreement the Consent Order entered into with the Federal Deposit Insurance Corporation ("FDIC") and the Washington Department of Financial Institutions on September 17, 2010, and any other supervisory action taken by the Bank’s 's federal or state regulatorsregulator.

Appears in 1 contract

Samples: Written Agreement

Source of Strength. The board of directors of Bancorp the Company shall take appropriate steps to fully utilize Bancorp’s the Company's financial and managerial resources, pursuant to section 38A of the Federal Deposit Insurance Act Act, as amended (the “FDI Act”) (12 U.S.C. § 1831o-11830o-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 this Agreement and any other supervisory action taken by the Bank’s 's federal or state regulatorsregulator.

Appears in 1 contract

Samples: Written Agreement

Source of Strength. The board of directors of Bancorp the Companies shall take appropriate steps to fully utilize Bancorp’s the Companies’ financial and managerial resources, pursuant to section 38A of the Federal Deposit Insurance FDI Act (the “FDI Act”) (12 U.S.C. § 1831o-11830o-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 this Agreement and any other supervisory action taken by the Bank’s federal or state regulatorsregulator.

Appears in 1 contract

Samples: Written Agreement

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