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LOAN COMMITTEE

PURPOSE OF THE COMMITTEE
The purpose of the Loan Committee is to oversee the credit and lending strategies and objectives of the Bank and the Bank Holding Company (“Company”) including: oversee the credit risk management of the Bank and Company, including reviewing internal credit policies and establishing portfolio limits and reviewing the quality and performance of the Bank and Company’s credit portfolio.

COMPOSITION OF THE COMMITTEE
The Loan Committee is composed of a minimum of five (5) independent directors, as well as the Chairman and CEO, President of the Bank, President of the Bank Holding Company, Chief Credit Officer and the Executive in charge of Commercial Lending.

MEETINGS
The Loan Committee generally meets on a monthly basis. Additional meetings will be called as needed.

RESPONSIBILITIES
The Loan Committee responsibilities shall include:
  1. To review, and if warranted approve or recommend for approval by the full board, credit requests that exceed the lending limits authorized for the Senior Management of Bank.
  2. To review and recommend for approval by the full board loan requests from directors or insiders, as defined within the Bank’s Insider Loan Policy.
  3. To review all loans, on an after the fact basis, in excess of a designated amount, which were approved within the lending limits authorized for senior management.
  4. To review and recommend for approval by the full Board, the Credit Policy for the Bank and the Company to ensure the credit quality of the Company and the Bank’s loan portfolio and to maintain profitability of the Company and the Bank.
  5. To review and discuss various reports prepared by management to assist the committee in monitoring the Bank and the Company’s credit portfolio.
  6. To review and approve the adequacy of the Bank’s allowance for loan and lease losses, as well as the Reserve held for unfunded commitments.
 


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