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"Request for Approval for Reduction in Capital Surplus or Dividend" - Georgia (United States)

Request for Approval for Reduction in Capital Surplus or Dividend is a legal document that was released by the Georgia Department of Banking and Finance - a government authority operating within Georgia (United States).

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REQUEST FOR APPROVAL FOR

Capital Surplus Reduction

REDUCTION IN CAPITAL SURPLUS OR

DIVIDEND

Dividend

Georgia Department of Banking and Finance

Suite 200, 2990 Brandywine Road

Atlanta, Georgia 30341-5565

(Name and Location of Bank)

At a meeting of the Directors of the above-named bank, held on the

day of

, 20

, the

Cashier and/or Secretary presented the following statement showing the earnings and expenses of the bank and other

necessary deductions for the

month period ending

, 20

. Round to nearest $1,000.

5. Equity Capital Accounts at Beg. of

1. Net Income (year to

Period*

date)

6. Equity Capital Accounts at End of

2. Net Income (prior year)

Period*

7. Net Change in Equity Capital

3. Cash Dividends (year to

Accounts

date)

8. Proposed Reductions/Dividends for

4. Retained Earnings (year

remainder of year

to date)

The most recent quarter-end Tier 1 Leverage Capital Ratio was

%. Estimated Retained Earnings after this

reduction payment would be $

. The estimated Tier 1 Leverage Capital Ratio and Tier 1 Common Equity

Ratio would be

% and

%, respectively after the reduction payment. The proposed payment represents

% of prior year’s Net Income.

Total Loan Classifications on the bank’s internal watch list, dated (should be most current date)

were as follows:

Substandard $

Doubtful $

Loss $

: Total Classifications $

(Ratios: Classified Loans to Total Loans

%. Adversely Classified Items Coverage Ratio

%.)

Purpose of the Surplus Reduction/Dividend

Will the capital buffer be maintained after the reduction in surplus? ( ) Yes (

) No Please attach a copy of the

computation.

Will the reduction cause any apparent violations related to the bank’s Legal Lending Limit, Fixed Assets, or Investments?

(

) Yes (

) No If yes, please attach an explanation.

Is this financial institution a Subchapter S-Corporation? (

) Yes ( ) No If yes, please attach a copy of the

computation of the income taxes which the bank would have had to pay as a C-Corporation.

On motion made and seconded, it was ordered that a dividend of $

per share for a total of $

be paid on

, 20

, to stockholders of record as of

, 20

For Departmental Use Only

APPROVED

DISAPPROVED

Certified by President

Department of Banking and Finance

or Secretary

Date

*(These accounts include: common stock, preferred stock, contributed surplus, additional paid-in-capital, retained earnings, other comprehensive earnings, and treasury stock)

REQUEST FOR APPROVAL FOR

Capital Surplus Reduction

REDUCTION IN CAPITAL SURPLUS OR

DIVIDEND

Dividend

Georgia Department of Banking and Finance

Suite 200, 2990 Brandywine Road

Atlanta, Georgia 30341-5565

(Name and Location of Bank)

At a meeting of the Directors of the above-named bank, held on the

day of

, 20

, the

Cashier and/or Secretary presented the following statement showing the earnings and expenses of the bank and other

necessary deductions for the

month period ending

, 20

. Round to nearest $1,000.

5. Equity Capital Accounts at Beg. of

1. Net Income (year to

Period*

date)

6. Equity Capital Accounts at End of

2. Net Income (prior year)

Period*

7. Net Change in Equity Capital

3. Cash Dividends (year to

Accounts

date)

8. Proposed Reductions/Dividends for

4. Retained Earnings (year

remainder of year

to date)

The most recent quarter-end Tier 1 Leverage Capital Ratio was

%. Estimated Retained Earnings after this

reduction payment would be $

. The estimated Tier 1 Leverage Capital Ratio and Tier 1 Common Equity

Ratio would be

% and

%, respectively after the reduction payment. The proposed payment represents

% of prior year’s Net Income.

Total Loan Classifications on the bank’s internal watch list, dated (should be most current date)

were as follows:

Substandard $

Doubtful $

Loss $

: Total Classifications $

(Ratios: Classified Loans to Total Loans

%. Adversely Classified Items Coverage Ratio

%.)

Purpose of the Surplus Reduction/Dividend

Will the capital buffer be maintained after the reduction in surplus? ( ) Yes (

) No Please attach a copy of the

computation.

Will the reduction cause any apparent violations related to the bank’s Legal Lending Limit, Fixed Assets, or Investments?

(

) Yes (

) No If yes, please attach an explanation.

Is this financial institution a Subchapter S-Corporation? (

) Yes ( ) No If yes, please attach a copy of the

computation of the income taxes which the bank would have had to pay as a C-Corporation.

On motion made and seconded, it was ordered that a dividend of $

per share for a total of $

be paid on

, 20

, to stockholders of record as of

, 20

For Departmental Use Only

APPROVED

DISAPPROVED

Certified by President

Department of Banking and Finance

or Secretary

Date

*(These accounts include: common stock, preferred stock, contributed surplus, additional paid-in-capital, retained earnings, other comprehensive earnings, and treasury stock)

DIV_19.29

VER 12/18