Dividends and Distribution. Bancorp shall not declare or pay any dividends without the prior written approval of the Reserve Bank and the Director of the Division of Banking Supervision and Regulation (the “Director”) of the Board of Governors.
Appears in 2 contracts
Sources: Written Agreement (Patriot National Bancorp Inc), Written Agreement
Dividends and Distribution. Bancorp Bancshares shall not declare or pay any dividends without the prior written approval of the Reserve Bank and the Director of the Division of Banking Supervision and Regulation (the “"Director”") of the Board of Governors.
Appears in 1 contract
Sources: Written Agreement