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| | FDIC: 1992 - Docket No. FDIC-92-133k |
 | | At the time the Bank approved the renewal of the extension of credit to P.T. Bostwick described in paragraphs 9 and 10 hereof, persons not affiliated with the Bank were required to pay, on similar extensions of credit, all earned interest at the time of any renewal of the extension of credit by the Bank. |
 | | Moreover, extensions of credit secured by endorsement must be supported by a financial statement of the endorser, properly signed, which is not more than 18 months old and which reflects adequate income to service the extension of credit and unencumbered equity in property sufficient to protect the extension of credit. |
 | | On or about December 31, 1990, the Bank sold "Federal Funds" in the cumulative amount of $3,870,000 to the Georgia Bankers Bank, Atlanta, Georgia, which amount exceeded 15 percent of the Bank's statutory capital base, without the prior approval of the Bank's board of directors or a committee thereof. |
| www.fdic.gov /bank/individual/enforcement/10582C.html (1934 words) |
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