Common use of Source of Strength Clause in Contracts

Source of Strength. The board of directors of Bancshares shall take appropriate steps to fully utilize Bancshares' 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 FDIC and the LOFI on January 29, 2010 and any other supervisory action taken by the Bank's federal or state regulator.

Appears in 1 contract

Samples: Written Agreement

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Source of Strength. The board of directors of Bancshares shall take appropriate steps to fully utilize Bancshares' ’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 FDIC’s Order entered into with the FDIC to Cease and the LOFI on January 29Desist dated October 20, 2010 2009, and any other supervisory action taken by the Bank's ’s federal or state regulator.

Appears in 1 contract

Samples: Written Agreement

Source of Strength. The board of directors of Bancshares shall take appropriate steps to fully utilize Bancshares' 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 FDIC Federal Deposit Insurance Corporation and the LOFI Commissioner on January 29May 4, 2010 2010, and any other supervisory action taken by the Bank's federal or state regulator.

Appears in 1 contract

Samples: Written Agreement

Source of Strength. The board of directors of Bancshares Bankshares shall take appropriate steps to fully utilize Bancshares' Bankshares’ 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 FDIC and the LOFI Federal Deposit Insurance Corporation (“FDIC”) on January 29, 2010 2010, and any other supervisory action taken by the Bank's ’s federal or state regulator.

Appears in 1 contract

Samples: Written Agreement

Source of Strength. The board of directors of Bancshares Bankshares shall take appropriate steps to fully utilize Bancshares' Bankshares’ 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 FDIC and the LOFI on January 29this Agreement, 2010 and any other supervisory action taken by the Bank's ’s federal or state regulatorregulators.

Appears in 1 contract

Samples: Written Agreement (Eastern Virginia Bankshares Inc)

Source of Strength. The board of directors of Bancshares Bankshares shall take appropriate steps to fully utilize Bancshares' Bankshares'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 FDIC and the LOFI on January 29this Agreement, 2010 and any other supervisory action taken by the Bank's federal or state regulator.

Appears in 1 contract

Samples: Written Agreement (Highlands Bankshares Inc /Va/)

Source of Strength. The board of directors of Bancshares Bankshares shall take appropriate steps to fully utilize BancsharesBankshares' 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 FDIC and the LOFI on January 29this Agreement, 2010 and any other supervisory action taken by the Bank's federal or state regulatorregulators.

Appears in 1 contract

Samples: Written Agreement

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Source of Strength. The board boards of directors of Bancshares the Companies shall take appropriate steps to fully utilize Bancshares' the Companies’ financial and managerial resources, pursuant to section 225.4(a38A of the FDI Act (12 U.S.C. § 1830o-1) of and Regulation Y of the Board of Governors of the Federal Reserve System (the "Board of Governors") (12 C.F.R. § 225.4(a225.4 (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 issued jointly by the FDIC Federal Deposit Insurance Corporation and the LOFI Commissioner on January 29May 13, 2010 2011, and any other supervisory action taken by the Bank's ’s federal or state regulator.

Appears in 1 contract

Samples: Placement Agency Agreement

Source of Strength. The board of directors of Bancshares Bankshares shall take appropriate steps to fully utilize Bancshares' Xxxxxxxxxx'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 FDIC and the LOFI on January 29this Agreement, 2010 and any other supervisory action taken by the Bank's federal or state regulator.

Appears in 1 contract

Samples: Written Agreement

Source of Strength. The board of directors of Bancshares shall take appropriate steps to fully utilize Bancshares' '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 FDIC and the LOFI Federal Deposit Insurance Corporation ("FDIC") on January 29May 5, 2010 2010, and any other supervisory action taken by the Bank's federal or state regulator.

Appears in 1 contract

Samples: Written Agreement

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