Professional Bank definition
Examples of Professional Bank in a sentence
The Bank Merger shall have the effects as set forth under applicable federal and state banking laws and regulations, and the Parties shall cause the Boards of Directors of Marquis Bank and Professional Bank, respectively, to approve a separate merger agreement (the “Bank Merger Agreement”) in substantially the form attached hereto as Exhibit C, and cause the Bank Merger Agreement to be executed and delivered as soon as practicable following the date of execution of this Agreement.
As provided in the Bank Merger Agreement, the Bank Merger may be abandoned at the election of Professional Bank at any time, whether before or after filings are made for regulatory approval of the Bank Merger, but if the Bank Merger is abandoned for any reason, Marquis Bank shall continue to operate under that name (together with any appendix required of national banking associations if its charter should be converted to that of a national bank).
The deposit accounts of Professional Bank are insured by the FDIC through the Deposit Insurance Fund to the fullest extent permitted by law, and all premiums and assessments required to be paid in connection therewith have been paid when due.
Professional Bank is in compliance with the applicable provisions of the Community Reinvestment Act of 1977 and the regulations promulgated thereunder and has received a Community Reinvestment Act rating of “satisfactory” or better in its most recently completed exam, and PHC has no Knowledge of the existence of any fact or circumstance or set of facts or circumstances which could reasonably be expected to result in Professional Bank having its current rating lowered.
Subject to applicable law and regulation, during the period from the date hereof until the Effective Time, MBI shall cause the Chief Executive Officer of Marquis Bank or, if such Person is unavailable, another senior officer thereof, to assist and confer with the officers of Professional Bank, on a weekly basis, relating to the development, coordination and implementation of the post-Merger operating and integration plans of Professional Bank, as the resulting institution in the Bank Merger.
Pioneer shall have received an ---------------- opinion from Professional Bank Services, Inc., dated as of a date no later than the date of the Proxy Statement mailed to Pioneer shareholders in connection with the Exchange and not subsequently withdrawn prior to the vote of Pioneer shareholders on the Plan of Exchange, to the effect that the Exchange is fair to Pioneer's shareholders from a financial point of view.
In the case of Professional Bank (i) voluntarily make any material changes in or to its deposit mix; (ii) materially increase or decrease the rate of interest paid on time deposits or on certificates of deposit, except pursuant to policies consistent with past practice and competitive factors in the marketplace or to be equivalent to interest rate offerings of Marquis Bank; (iii) open any new branch or deposit taking facility; or (iv) close or relocate any existing branch or other facility.
In furtherance (but not in limitation) of the foregoing, PHC shall, and shall cause Professional Bank to, use commercially reasonable efforts to file any required applications, notices or other filings with the FRB, the Florida Office of Financial Regulation (the “OFR”), the FDIC and applicable state banking agencies within forty-five (45) days of the date hereof.
In the case of Marquis Bank (i) voluntarily make any material changes in or to its deposit mix; (ii) materially increase or decrease the rate of interest paid on time deposits or on certificates of deposit, except pursuant to policies consistent with past practice and competitive factors in the marketplace or to be equivalent to interest rate offerings of Professional Bank; (iii) open any new branch or deposit taking facility; or (iv) close or relocate any existing branch or other facility.
You agree that the Bank shall not liable if you are unable to gain access to the website or Professional Bank system from time to time.