Minimum Deposits. The average of Cornerstone Bank’s aggregate outstanding balance of deposits, excluding (i) all time/maturity deposits and (ii) any “brokered deposits,” as such term is defined in the rules and regulations of the FDIC, over the ten (10) consecutive Business Days ending the second Business Day immediately preceding the Closing Date shall be not less than $405,000,000.
Appears in 2 contracts
Sources: Agreement and Plan of Merger and Reorganization (Plumas Bancorp), Agreement and Plan of Merger and Reorganization (Plumas Bancorp)