"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).

Form Details:

  • Released on December 1, 2018;
  • The latest edition currently provided by the Georgia Department of Banking and Finance;
  • Ready to use and print;
  • Easy to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of the form by clicking the link below or browse more documents and templates provided by the Georgia Department of Banking and Finance.

ADVERTISEMENT
ADVERTISEMENT

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

321 times
Rate (4.5 / 5) 19 votes
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
By
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
By
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
Page of 2