Attached files
| file | filename |
|---|---|
| 10-K - NORTH CENTRAL BANCSHARES INC | v176963_10k.htm |
| EX-23.1 - NORTH CENTRAL BANCSHARES INC | v176963_ex23-1.htm |
| EX-31.2 - NORTH CENTRAL BANCSHARES INC | v176963_ex31-2.htm |
| EX-31.1 - NORTH CENTRAL BANCSHARES INC | v176963_ex31-1.htm |
| EX-32.2 - NORTH CENTRAL BANCSHARES INC | v176963_ex32-2.htm |
| EX-21.1 - NORTH CENTRAL BANCSHARES INC | v176963_ex21-1.htm |
| EX-32.1 - NORTH CENTRAL BANCSHARES INC | v176963_ex32-1.htm |
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Exhibit
99.1
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Section
30.15 Certification
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North
Central Bancshares, Inc.
Certification
of Chief Executive Officer and Interim Principal Accounting Officer
Pursuant
to Section 30.15 of 31 CFR Part 30
The
undersigned, David M. Bradley and Craig A. Steen, Chief Executive Officer and
Interim Principal Accounting Officer of North Central Bancshares, Inc. (the
“Company”) respectively, do hereby certify, based on our knowledge,
that:
i. The
Personnel and Compensation Committee of the Company has discussed, reviewed, and
evaluated with senior risk officers at least every six months during the period
beginning on June 15, 2009 and ending with the last day of the TARP recipient’s
fiscal year containing that date (the “applicable period”), senior executive
officer (“SEO”) compensation plans and employee compensation plans and the risks
these plans pose to the Company;
ii. The
Personnel and Compensation Committee of the Company has identified and limited
during the applicable period the features in the SEO compensation plans that
could lead SEOs to take unnecessary and excessive risks that could threaten the
value of the Company and identified any features in the employee compensation
plans that pose risks to the Company and limited those features to ensure that
the Company is not unnecessarily exposed to risks;
iii. The
Personnel and Compensation Committee has reviewed at least every six months
during the applicable period the terms of each employee compensation plan and
identified the features in the plan that could encourage the manipulation of
reported earnings of the Company to enhance the compensation of an employee and
has limited those features;
iv. The
Personnel and Compensation Committee of the Company will certify to the reviews
of the SEO compensation plans and employee compensation plans required under (i)
and (iii) above;
v. The
Personnel and Compensation Committee of the Company will provide a narrative
description of how it limited during any part of the most recently completed
fiscal year that included a TARP period the features in:
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(A)
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SEO
compensation plans that could lead SEOs to take unnecessary and excessive
risks that could threaten the value of the
Company;
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(B)
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Employee
compensation plans that unnecessarily expose the Company to risks;
and
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(C)
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Employee
compensation plans that could encourage the manipulation of reported
earnings of the Company to enhance the compensation of an
employee;
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vi. The
Company has required that bonus payments, as defined in the regulations and
guidance established under Section 111 of EESA (bonus payments), of the SEOs and
twenty next most highly compensated employees be subject to a recovery or
“clawback” provision during any part of the most recently completed fiscal year
that was a TARP period if the bonus payments were based on materially inaccurate
financial statements or any other materially inaccurate performance metric
criteria;
vii. The
Company has prohibited any golden parachute payment, as defined in the
regulations and guidance established under Section 111 of EESA, to a SEO or any
of the next five most highly compensated employees during the applicable
period;
viii. The
Company has limited bonus payments to its applicable employees in accordance
with Section 111 of EESA and the regulations and guidance established thereunder
during the applicable period;
ix.
The board of directors of the Company has established an excessive or
luxury expenditures policy, as defined in the regulations and guidance
established under Section 111 of EESA, has provided this policy to Treasury and
its primary regulatory agency, and the Company and its employees have complied
with this policy during the applicable period and that any expenses requiring
approval of the board of directors, a committee of the board of directors, an
SEO, or an executive officer with a similar level of responsibility, were
properly approved;
x.
The Company will permit a non-binding shareholder resolution
in compliance with any applicable federal securities rules and regulations on
the disclosures provided under the federal securities laws related to SEO
compensation paid or accrued during the applicable period;
xi. The
Company will disclose the amount, nature, and justification for the offering
during the applicable period of any perquisites, as defined in the regulations
and guidance established under Section 111 of EESA, whose total value exceeds
$25,000 for each employee subject to the bonus payment limitations identified in
paragraph (vii);
xii. The
Company will disclose whether the Company, the board of directors of the
Company, or the Personnel and Compensation Committee of the Company has engaged
during the applicable period a compensation consultant; and the services the
compensation consultant or any affiliate of the compensation consultant provided
during this period;
xiii. The
Company has prohibited the payment of any gross-ups, as defined in the
regulations and guidance established under Section 111 of EESA, to the SEOs and
the next twenty most highly compensated employees during the applicable
period;
xiv.
The Company has substantially complied with all other requirements
related to employee compensation that are provided in the agreement between the
Company and Treasury, including any amendments;
xv. The
Company has submitted to Treasury a complete and accurate list of the SEOs and
the next twenty most highly compensated employees for the current fiscal year
and the most recently completed fiscal year, with the non-SEOs ranked in
descending order of level of annual compensation, and with the name, title, and
employee of each SEO and most highly compensated employee identified;
and
xvi. I
understand that a knowing and willful false or fraudulent statement made in
connection with this certification may be punished by fine, imprisonment, or
both. (See, for example, 18 USC 1001).
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NORTH
CENTRAL BANCSHARES, INC.
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Date: March
12, 2010
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BY:
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/s/ David M. Bradley
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David
M. Bradley, Chairman, President & CEO
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Date: March
12, 2010
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BY:
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/s/ Craig A. Steen
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Craig
A. Steen, Interim Principal Accounting
Officer
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