Internal Accounting Controls. The Company and the Bank have established and maintain a system of internal control over financial reporting that pertains to the maintenance of records that accurately and fairly reflect the transactions and dispositions of the Company’s assets (on a consolidated basis), provides reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that the Company’s and the Bank’s receipts and expenditures and receipts and expenditures of each of the Company’s other material Subsidiaries are being made only in accordance with authorizations of the Company’s management and board of directors, and provides reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of assets of the Company on a consolidated basis that could have a Material Adverse Effect. The Company believes that such system of internal control over financial reporting is effective to provide reasonable assurance regarding the reliability of the Company’s financial reporting and the preparation of the Company’s financial statements for external purposes in accordance with GAAP. Since the conclusion of the Company’s last completed fiscal year there has not been and there currently is not to the knowledge of the Company # any significant deficiency or material weakness in the design or operation of its internal control over financial reporting which is reasonably likely to adversely affect its ability to record, process, summarize and report financial information that would result in a material misstatement of the Company’s financial statements, or # any fraud that involves management or other employees who have a significant role in the Company’s or the Bank’s internal control over financial reporting. The Company # has implemented and maintains disclosure controls and procedures that it believes are reasonably designed and maintained to ensure that material information relating to the Company is made known to the Chief Executive Officer and the Chief Financial Officer of the Company by others within the Company and # has disclosed, based on its most recent evaluation prior to the date hereof, to the Company’s outside auditors and the audit committee of the Company’s board of directors any significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the Company’s internal controls over financial reporting and of which the Company has knowledge. Such disclosure controls and procedures are effective for the purposes for which they were established.
Internal Accounting Controls. The Company and the Bank have established and maintain a systemmaintains systems of internalinternal control over financial reportingreporting (as defined under Rules 13a-15 and 15d-15 under the Exchange Act Regulations) that pertains tocomply with the maintenance of records that accurately and fairly reflect the transactions and dispositionsrequirements of the Company’s assets (on a consolidated basis), providesExchange Act and have been designed by, or under the supervision of, its principal executive and principal financial officers, or persons performing similar functions, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP, including, but not limited to, internal accounting controls sufficient to provide reasonable assurance that # transactions are executed in accordance with management's general or specific authorizations; # transactions are recorded as necessary to permit preparation of financial statements in accordanceconformity with GAAP,GAAP and that the Company’s and the Bank’s receipts and expenditures and receipts and expenditures of each of the Company’s other material Subsidiaries are being madeto maintain asset accountability; # access to assets is permitted only in accordance with authorizationsmanagement's general or specific authorization; and # the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. Except as disclosed in the Registration Statement, the Disclosure Package and the Prospectus, the Company is not aware of any material weaknesses in its internal controls. The Auditors and the Audit Committee of the Company’s management and boardBoard of directors, and provides reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of assetsDirectors of the Company on a consolidated basis that could have a Material Adverse Effect. The Company believes that such system of internal control over financial reporting is effective to provide reasonable assurance regarding the reliability of the Company’s financial reportingbeen advised of: # all significant deficiencies and the preparation of the Company’s financial statements for external purposes in accordance with GAAP. Since the conclusion of the Company’s last completed fiscal year there has not been and there currently is not to the knowledge of the Company # any significant deficiency or material weaknessweaknesses, if any, in the design or operation of its internal controlcontrols over financial reporting which isare known to the Company's management and that have adversely affected or are reasonably likely to adversely affect itsthe Company' ability to record, process, summarize and report financial information that would result in a material misstatement of the Company’s financial statements, orinformation; and # any fraudfraud, if any, known to the Company's management, whether or not material, that involves management or other employees who have a significant role in the Company’s or the Bank’s internal control over financial reporting. The Company # has implemented and maintains disclosure controls and procedures that it believes are reasonably designed and maintained to ensure that material information relating to the Company is made known to the Chief Executive Officer and the Chief Financial Officer of the Company by others within the Company and # has disclosed, based on its most recent evaluation prior to the date hereof, to the Company’s outside auditors and the audit committee of the Company’s board of directors any significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the Company’Company's internal controls over financial reporting and of which the Company has knowledge. Such disclosure controls and procedures are effective for the purposes for which they were established.reporting.
Internal Accounting Controls. The Company and the Bank have established andits subsidiaries maintain a system of internal control over financial reportingaccounting controls sufficient to provide reasonable assurances that pertains to the maintenance of records that accurately and fairly reflect the# transactions and dispositions of the Company’are executed in accordance with management’s assets (on a consolidated basis), provides reasonable assurance thatgeneral or specific authorization, # transactions are recorded as necessary to permit preparation of financial statements in accordanceconformity with GAAP,GAAP and that the Company’s and the Bank’s receipts and expenditures and receipts and expenditures of each of the Company’s other material Subsidiaries are being madeto maintain accountability for assets, # access to assets is permitted only in accordance with authorizations ofmanagement’s general or specific authorization, and # the Company’s managementrecorded accountability for assets is compared with existing assets at reasonable intervals and board of directors, and provides reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of assets of the Company on a consolidated basis that could have a Material Adverse Effect.appropriate action is taken with respect to any differences. The Company believes that suchand each of its subsidiaries maintain a system of internal control over financial reporting (as such term is effective to provide reasonable assurance regardingdefined in Rule 13a-15(f) and Rule 15d-15(f) under the reliability1934 Act), that complies with the requirements of the Company’s financial reporting and the preparation of1934 Act, as applicable to them; the Company’s financial statements for external purposes in accordance with GAAP. Since the conclusion of the Company’s last completed fiscal year there has not been and there currently is not to the knowledge of the Company # any significant deficiency or material weakness in the design or operation of its internal control over financial reporting is effective; and since the end of the Company’s most recent audited fiscal year, there has been # no material weakness in the Company’s internal control over financial reporting (whether or not remediated) of which the Company is aware and # no change in the Company’s internal control over financial reporting that has materially affected adversely, or is reasonably likely to adverselymaterially affect its ability to record, process, summarize and report financial information that would result in a material misstatement ofadversely, the Company’s financial statements, or # any fraud that involves management or other employees who have a significant role in the Company’s or the Bank’s internal control over financial reporting. The Company # has implemented and maintains disclosure controls and procedures that it believes are reasonably designed and maintained to ensure that material information relating to the Company is made known to the Chief Executive Officer and the Chief Financial Officer of the Company by others within the Company and # has disclosed, based on its most recent evaluation prior to the date hereof, to the Company’s outside auditors and the audit committee of the Company’s board of directors any significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the Company’s internal controls over financial reporting and of which the Company has knowledge. Such disclosure controls and procedures are effective for the purposes for which they were established.
Internal Accounting and Disclosure Controls. The Company and the Bank have established and maintain a systemeach of its Subsidiaries maintains internal control over financial reporting (as such term is defined in Rule 13a-15(f) under the 1934 Act) that pertainsis effective to the maintenance of records that accurately and fairly reflect the transactions and dispositions of the Company’s assets (on a consolidated basis), providesprovide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles, including that # transactions are executed in accordance with management’s general or specific authorizations, # transactions are recorded as necessary to permit preparation of financial statements in accordanceconformity with GAAP,GAAP and that the Company’sto maintain asset and the Bank’s receipts and expenditures and receipts and expendituresliability accountability, # access to assets or incurrence of each of the Company’s other material Subsidiaries are being madeliabilities is permitted only in accordance with authorizations ofmanagement’s general or specific authorization and # the Company’s managementrecorded accountability for assets and board of directors,liabilities is compared with the existing assets and providesliabilities at reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of assets of the Company on a consolidated basis that could have a Material Adverse Effect.intervals and appropriate action is taken with respect to any difference. The Company believes that such system of internal control over financial reporting is effective to provide reasonable assurance regarding the reliability of the Company’s financial reporting and the preparation of the Company’s financial statements for external purposes in accordance with GAAP. Since the conclusion of the Company’s last completed fiscal year there has not been and there currently is not to the knowledge of the Company # any significant deficiency or material weakness in the design or operation of its internal control over financial reporting which is reasonably likely to adversely affect its ability to record, process, summarize and report financial information that would result in a material misstatement of the Company’s financial statements, or # any fraud that involves management or other employees who have a significant role in the Company’s or the Bank’s internal control over financial reporting. The Company # has implemented and maintains disclosure controls and procedures (as such term is defined in Rule 13a-15(e) under the 1934 Act) that are effective in ensuring that information required to be disclosed by the Company in the reports that it believes are reasonablyfiles or submits under the 1934 Act is recorded, processed, summarized and reported, within the time periods specified in the rules and forms of the SEC, including, without limitation, controls and procedures designed and maintained to ensure that material information relatingrequired to be disclosed by the Company in the reports that it files or submits under the 1934 Act is made known to the Chief Executive Officeraccumulated and the Chief Financial Officer of the Company by others within the Company and # has disclosed, based on its most recent evaluation prior to the date hereof,communicated to the Company’s outside auditorsmanagement, including its principal executive officer or officers and its principal financial officer or officers, as appropriate, to allow timely decisions regarding required disclosure. Neither the audit committeeCompany nor any of its Subsidiaries has received any notice or correspondence from any accountant, Governmental Entity or other Person relating to any potential material weakness or significant deficiency in any part of the Company’s board of directors any significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the Company’s internal controls over financial reporting and of which the Company has knowledge. Such disclosure controls and procedures are effective for the purposes for which they were established.or any of its Subsidiaries.
Internal Accounting and Disclosure Controls. The Company and the Bank have established and maintain a systemeach of its Subsidiaries maintains internal control over financial reporting that pertains to(as such term is defined in Rule 13a-15(f) under the maintenance of records1934 Act) that accurately and fairly reflect the transactions and dispositions of the Company’s assets (on a consolidated basis), provides reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that the Company’s and the Bank’s receipts and expenditures and receipts and expenditures of each of the Company’s other material Subsidiaries are being made only in accordance with authorizations of the Company’s management and board of directors, and provides reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of assets of the Company on a consolidated basis that could have a Material Adverse Effect. The Company believes that such system of internal control over financial reporting is effective to provide reasonable assurance regarding the reliability of the Company’s financial reporting and the preparation of the Company’s financial statements for external purposes in accordance with GAAP. Since the conclusion of the Company’generally accepted accounting principles, including that # transactions are executed in accordance with managements last completed fiscal year there has not been and there currently is not to the knowledge of the Companygeneral or specific authorizations, # any significant deficiency or material weakness in the design or operation of its internal control over financial reporting which is reasonably likely to adversely affect its ability to record, process, summarize and report financial information that would result in a material misstatement of the Company’s financial statements, or # any fraud that involves management or other employees who have a significant role in the Company’s or the Bank’s internal control over financial reporting. The Company # has implemented and maintains disclosure controls and procedures that it believes are reasonably designed and maintained to ensure that material information relating to the Company is made known to the Chief Executive Officer and the Chief Financial Officer of the Company by others within the Company and # has disclosed, based on its most recent evaluation prior to the date hereof, to the Company’s outside auditors and the audit committee of the Company’s board of directors any significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the Company’s internal controls over financial reporting and of which the Company has knowledge. Such disclosure controls and procedures are effective for the purposes for which they were established.transactions
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