SMTB » Topics » The Company Is Subject To Claims And Litigation Pertaining To Fiduciary Responsibility

These excerpts taken from the SMTB 10-K filed Mar 12, 2009.

The Company Is Subject To Claims And Litigation Pertaining To Fiduciary Responsibility

From time to time, customers make claims and take legal action pertaining to the Bank’s performance of its fiduciary responsibilities. Whether customer claims and legal action related to the Bank’s performance of its fiduciary responsibilities are founded or unfounded, if such claims and legal actions are not resolved in a manner favorable to the Company, they may result in significant financial liability and/or adversely affect the market perception of the Bank and its products and services as well as impact customer demand for those products and services. Any financial liability or reputation damage could have a material adverse effect on the Company’s business, which, in turn, could have a material adverse effect on its financial condition and results of operations.

The Company Is Subject To Claims And Litigation Pertaining To Fiduciary Responsibility



From time to time, customers make claims and take legal action pertaining to the Bank’s performance of its fiduciary responsibilities. Whether customer claims and legal action related to the Bank’s performance of its fiduciary responsibilities are founded or unfounded, if such claims and legal actions are not resolved in a manner favorable to the Company, they may result in significant financial liability and/or adversely affect the market
perception of the Bank and its products and services as well as impact customer demand for those products and services. Any financial liability or reputation damage could have a material adverse effect on the Company’s business, which, in turn, could have a material adverse effect on its financial condition and results of operations.



EXCERPTS ON THIS PAGE:

10-K (2 sections)
Mar 12, 2009

"The Company Is Subject To Claims And Litigation Pertaining To Fiduciary Responsibility" elsewhere:

Midwest Banc Holdings (MBHI)
Southside Bancshares (SBSI)
STERLING BANCORP (STL)
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki