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 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 and the California Department of Financial Institutions on March 04, 2010 and any other supervisory action taken by the Bank’s federal or state regulator.

Appears in 1 contract

Samples: Written Agreement (Heritage Oaks Bancorp)

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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 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 and Office of the California Department Comptroller of Financial Institutions the Currency on March 04August 20, 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 Bancorp shall take appropriate steps to fully utilize Bancorp’s '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 and Office of the California Department Comptroller of Financial Institutions the Currency on March 04August 25, 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 Bancorp shall take appropriate steps to fully utilize Bancorp’s financial and managerial resources, pursuant to Section 225.4 (asection 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 and the California Illinois Department of Financial Institutions and Professional Regulation on March 04February 24, 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 Bancorp Intervest shall take appropriate steps to fully utilize Bancorp’s Intervest's financial and managerial resources, pursuant to Section 225.4 (asection 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 and Office of the California Department Comptroller of Financial Institutions the Currency on March 04December 9, 2010 and any other supervisory action taken by the Bank’s 's federal or state regulator.

Appears in 1 contract

Samples: Written Agreement

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Source of Strength. The board of directors of Bancorp Intervest shall take appropriate steps to fully utilize BancorpIntervest’s financial and managerial resources, pursuant to Section 225.4 (asection 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 and Office of the California Department Comptroller of Financial Institutions the Currency on March 04December 9, 2010 and any other supervisory action taken by the Bank’s federal or state regulator.

Appears in 1 contract

Samples: Written Agreement (Intervest Bancshares Corp)

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 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 Consent Order issued by with the Federal Deposit Insurance Corporation and Office of the California Department Comptroller of Financial Institutions the Currency on March 04May 12, 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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