THE FULTON NATIONAL BANK OF ATLANTA The Honorable Fernand J. St Germain -3 October 3, 1977 We hope the foregoing information will assist you in your subcommittee's deliberations. If you or your staff have any questions about the information provided above or about any of the enclosed documents, I will be happy to discuss them with you. THE FULTON NATIONAL BANK LOAN POLICY INDIVIDUAL AUTHORITY 1. All loan officers assigned to the Banking Group have individual unsecured 2. 3. authority to $5,000. All others will handle loans through a loan officer only. Certain loan officers shall have individual unsecured authority in excess of $5,000 as indicated by specific designation by the President of the bank. All loan officers have individual authority to make installment loans over their limits when secured by an automobile or an F.H.A. improvement loan when handled in accordance with our regular policy for installment loans as issued from time to time. They may also make loans in excess of their individual authority when secured by assignment of savings accounts, savings certificates, cash surrender value of life insurance, and share accounts of savings and loan association in the Metropolitan Area of Atlanta, as well as when secured by stocks and bonds in compliance with instructions contained in the Loan Manual of this bank. However, no additional loan, unless fully secured as provided in this section, can be made if such a loan will mean the total indebtedness will exceed the individual authority. 4. When a loan is unusual as to size, maturity or nature, the loan must be discussed with a commercial loan Senior Vice President or Vice President. (See additional Management Policy statements on loans that are now current and as issued). 5. 6. Officers making loans within their lending authority should report such loans on Form 234 (Rev.), (Exhibit A), showing all the information required thereon which is pertinent to the loan, placing N/A on any blank lines. These forms should be manually signed by the officer with his complete name, officer number, and the name and number of his profit center shown immediately below his signature. The original of such report will be forwarded to the Credit Department to be included in the customer's credit file. When a loan is declined, the officer doing so will write a green sheet for the credit file, giving details as to the particulars involved and his rea sons for declining it. Borderline situations should be discussed with another officer before a loan is declined. -2 LOAN COMMITTEES The following constitute the Loan Committees of the Bank and their authorities: SENIOR LOAN COMMITTEE Members: Authority: All loan requests exceeding $500,000. Review all loans exceeding $100,000 which were presented and approved by any other Committee. a) Credit Department will furnish copies of minutes of other Procedures: b) Quorum: Attendance: Time and c) The Credit Department, if requested, will have available Any three of the above-named committee members will constitute a quorum. Any officer presenting a loan to this Committee, together with his Each Friday, 8:30 A.M., in the Board Room. REGIONAL-NATIONAL COMMITTEE Members: Authority: Procedure: Quorum: All loan requests generated from the Regional and National Division up to and including $500,000. If there is a dissenting vote, the Chairman will refer the loan to the Senior Loan Committee. Any three of the above-named committee members will constitute a quorum. Time and Each Monday, 8:30 A.M., in the Board Room. REAL ESTATE LOAN COMMITTEE Members: Authority: Procedure: Quorum: Time and All loan requests generated from the Real Estate Division up to and including $500,000. If there is a dissenting vote, the Chairman will refer the loan to the Senior Loan Committee. Any three of the above-named committee members will constitute a quorum. Each Wednesday, 8:30 A.M., at B.M.A. THE REAL ESTATE-PROPERTIES COMMITTEE Members: Time and Each month on the 15th (or the first business day thereafter), at 3:30 P.M., Real Estate Department, Northlake Office Park. METROPOLITAN COMMITTEE Members: Authority: Procedure: Quorum: All loan requests over $100,000 (except as specified for Branch Group Officers) generated from within the Metropolitan Division up to and including $500,000. If there is a dissenting vote, the Chairman will refer the loan to the Senior Loan Committee. Any four of the above-named Committee members will constitute a quorum. Time and Each Thursday, 8:30 A.M., in the Board Room. -4 |