Acquired Loans - Sample Policy Language (July 2015)

Published September 09, 2016

Acquired Loans - Purchased Credit Impaired Loans (“PCI”): As part of business acquisitions, the Bank acquires certain loans that have shown evidence of credit deterioration since origination, commonly known as “purchased credit impaired” (“PCI”) loans. These acquired loans are recorded at fair value, such that there is no carryover of the target’s allowance for loan losses. Such acquired loans are accounted for individually under Accounting Standards Codification (“ASC”) 310-30.

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