Tangible Equity Capital definition
Tangible Equity Capital means Equity Capital less Goodwill and Other Intangible Assets of the Bank determined in accordance with the Call Report Instructions.
Tangible Equity Capital means the sum of the capital stock, surplus and retained earning accounts, reduced by the amount of any goodwill and other intangible assets, each as derived from the Borrower’s quarterly Form FR Y-9C.
Tangible Equity Capital means common stock, paid in capital, retained earnings, and minus goodwill and any other intangible assets, without giving effect to any impact from gains or losses on available for sale securities.
Examples of Tangible Equity Capital in a sentence
The Borrower will maintain as at the last day of each fiscal quarter a ratio of (i) Funded Debt to (ii) Tangible Equity Capital which is less than .25 to 1.0.
Tangible Equity Capital means common stock, paid in capital, retained earnings, plus (or minus) net unrealized gain (or loss) on available for sale securities and minus goodwill and any other intangible assets.
As of the Closing Date, the total assets of the Bank shall be equal to or greater than $50,000,000 and the Tangible Equity Capital of the Bank shall be equal to or greater than $4,500,000.
The amounts of the Bank’s Tangible Equity Capital and the Purchase Price so determined shall be set forth in a closing memorandum (the “Closing Memorandum”) executed and agreed to in writing by the Buyer and the Seller no later than three Business Days prior to the Closing Date.
WFBI shall have received a Summary Balance Sheet indicating that FP Holding has Tangible Equity Capital of at least $2.5 million and reserves of at least $440,000, in each case as of the Closing, and stating FP Holding’s calculation of the amount of Excess Capital to be used for the purpose of calculating the Merger Consideration.
More Definitions of Tangible Equity Capital
Tangible Equity Capital means the sum of perpetual preferred stock, common stock, surplus and undivided profits, capital reserves, and net unrealized holding gains (and losses) on "available-for-sale" securities, as disclosed in the Subsidiary Banks' Call Reports.
Tangible Equity Capital has the meaning set forth in Section 2.02(b).
Tangible Equity Capital has the meaning assigned to such term in Section 5.2.3.
Tangible Equity Capital means - equity capital as presented in the financial statements, including, paid-up stock capital, non-distributed surpluses, funds, with the addition of the balance of the amounts of the shareholders' loan funds regarding which documents of subordination were signed towards the bank, by the company and shareholders and while deducting non-tangible assets such as: goodwill, patents, trademarks, brand names, copyrights etc. and deducting those liable to the Company who are interested parties and/or subsidiaries and/or companies related to the Company (as the aforementioned terms are defined in the Securities Law, 5728-1968) as well as deducting guarantees that were given by the Company to secure the debts of interested parties and/or subsidiaries and/or companies related to the Company.
Tangible Equity Capital means the sum of the common stock, surplus and retained earning accounts reduced by the amount of any goodwill;"
Tangible Equity Capital shall equal the sum of the SCSG’s equity capital stock, capital surplus, and retained earnings, less goodwill and intangible assets, and excluding (for the avoidance of doubt) unrealized securities gains or losses, on a consolidated basis with SouthCrest Bank, as determined pursuant to GAAP and in accordance with this Section 2.02(b). For purposes of calculating Tangible Equity Capital, SCSG shall include deductions made for any transaction expenses related to the Merger, this Agreement and the transactions contemplated hereby (“Transaction Expenses”), including, to the extent not already reflected in the retained earnings of SCSG as set forth in the Estimated Closing Statement (as defined in Section 2.02(c) below), reductions for (i) the amount of any costs, fees, expenses and commissions payable to any broker, finder, financial advisor or investment banking firm in connection with this Agreement or the transactions contemplated hereby; (ii) the amount of all legal and accounting fees and other expenses incurred in connection with the negotiation, execution or performance of this Agreement or the consummation of the transactions contemplated hereby; (iii) the accrual of any costs, fees, expenses, contract payments, penalties or liquidated damages associated with or incurred in connection with the termination of Terminated Contracts (as defined in Section 5.14), including, but not limited to, the termination of any data processing contract following the Closing Date; (iv) amounts payable upon a change in control event under any SCSG Material Contract; (v) the amount of any payments to be made pursuant to any existing employment, change in control, salary continuation, deferred compensation or other similar agreements or arrangements or severance, noncompetition, retention or bonus arrangements between SCSG or SouthCrest Bank and any other Person, including the termination of such agreements, regardless of whether payment under such agreement or arrangement is triggered by the transactions set forth in this Agreement; (vi) the accrual of any future benefit payments due under any salary continuation, deferred compensation or other similar agreements through the date of final payment; (vii) the amount of any additional accruals or costs (to the extent not already accrued) to fully fund and liquidate any SCSG Benefit Plan (as defined herein) and to pay all related expenses and fees to the extent such termination is requested by CBAN pursuant to Section 5.11; (...
Tangible Equity Capital mean total assets excluding intangible assets (i.e., goodwill, trademarks, patents, copyrights, organizational expenses, and similar intangible items, but including leaseholds and leasehold improvements) less total Debt.