Suffolk New York Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc.

State:
Multi-State
County:
Suffolk
Control #:
US-CC-18-202D
Format:
Word; 
Rich Text
Instant download

Description

18-202D 18-202D . . . Restricted Stock Plan and Trust Agreement for federal savings and loan association ("corporation") under which (a) corporation will contribute funds to Restricted Stock Plan ("Plan") and Plan will (i) purchase common stock in open market or (ii) purchase authorized but unissued shares of common stock from corporation, and (b) committee of Board of Directors can grant Restricted Stock Awards to directors, officers and key employees, Twenty percent of such Awards are earned and become non-forfeitable on one-year anniversary of date of grant and an additional 20% are earned and become non-forfeitable annually thereafter; provided that recipient of Award remains an employee or director of corporation during such period. Dividends paid on Restricted Stock Awards are held in arrears and distributed on date such applicable Restricted Stock Awards are earned
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  • Preview Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc.
  • Preview Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc.
  • Preview Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc.
  • Preview Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc.
  • Preview Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc.
  • Preview Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc.
  • Preview Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc.
  • Preview Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc.
  • Preview Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc.
  • Preview Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc.

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FAQ

First Nationwide Bank has agreed to buy the Home Federal Financial Corporation for $70.6 million in cash. Shareholders in Home Federal, the parent of the Home Federal Savings and Loan Association of San Francisco, will receive $18.50 a share.

Non-member banks are banks that are not members of the U.S. Federal Reserve System. As with member banks, non-member banks are subject to reserve requirements, which they have to maintain by placing a percentage of their deposits at a Federal Reserve Bank.

Under the mutual ownership model, an S&L is owned by its depositors and borrowers. An S&L can also be established by a group of shareholders who own all the shares in the thrift. This is different from commercial banks, which are typically owned and managed by a board of directors chosen by stockholders.

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As a federally-chartered bank, our bankers are licensed to originate loans in all 50 states. That means that even if The Federal Savings Bank does not have a physical location where you live, we still can meet your mortgage and banking needs.

A national bank is regulated by the Comptroller of Currency, which is a federal agency. Therefore, a national bank follows federal regulations. A state bank is chartered and examined by the department of banking for the state that a particular state bank is operating within.

Federal savings associations (also called "federal thrifts" or "federal Savings Banks"), in the United States, are institutions chartered by the Office of Thrift Supervision which is now administered by Office of the Comptroller of the Currency after the agencies merged.

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Suffolk New York Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc.