Examples of OCC Agreement in a sentence
Per the OCC Agreement, a dividend may only be declared if it is in accordance with the approved capital plan, the Bank remains in compliance with the capital plan following the payment of the dividend and the dividend is approved by the OCC.
A capital plan, subject to amendment, was filed with the OCC as required under the OCC Agreement.
Roma Bank shall use its reasonable best efforts to take, or cause to be taken, all actions necessary to ensure full compliance with the terms of the OCC Agreement.
On April 15, 2010, the Bank entered into the OCC Agreement which contained requirements to develop and implement a profitability and capital plan which will provide for the maintenance of adequate capital to support the Bank’s risk profile in the current economic environment.
Except for the OCC Agreement, neither Roma MHC, Roma Financial nor any Roma Subsidiary has consented to or entered into any Roma Financial Regulatory Agreement that is currently in effect.
On April 15, 2010, the Bank entered into the OCC Agreement which contained requirements to develop and implement a profitability and capital plan that provides for the maintenance of adequate capital to support the Bank’s risk profile in the current economic environment.
However, under the terms of the OCC Agreement, the Bank is prohibited from declaring or paying dividends or making any other capital distribution unless certain conditions set forth in the OCC Agreement are satisfied, including among other conditions, the prior written determination of the OCC.
The table below sets forth the capital requirements for the Bank under the OCC regulations, and under the OCC Agreement and the Bank's actual capital ratios at December 31, 1996.
The OCC Agreement permits the Bank to declare dividends on preferred stock held by the Company only when the Bank is "adequately capitalized." The Bank may also declare dividends on its common stock held by the Company only when the Bank is in compliance with its approved capital program and with the prior written approval of the OCC.
The OCC and the Bank entered into an Agreement dated November 14, 1996, ("OCC Agreement").