Attached files
file | filename |
---|---|
EX-3.2 - EX-3.2 - INTERMOUNTAIN COMMUNITY BANCORP | v55190exv3w2.htm |
10-K - FORM 10-K - INTERMOUNTAIN COMMUNITY BANCORP | v55190e10vk.htm |
EX-32 - EX-32 - INTERMOUNTAIN COMMUNITY BANCORP | v55190exv32.htm |
EX-21 - EX-21 - INTERMOUNTAIN COMMUNITY BANCORP | v55190exv21.htm |
EX-23 - EX-23 - INTERMOUNTAIN COMMUNITY BANCORP | v55190exv23.htm |
EX-4.2 - EX-4.2 - INTERMOUNTAIN COMMUNITY BANCORP | v55190exv4w2.htm |
EX-3.1 - EX-3.1 - INTERMOUNTAIN COMMUNITY BANCORP | v55190exv3w1.htm |
EX-99.2 - EX-99.2 - INTERMOUNTAIN COMMUNITY BANCORP | v55190exv99w2.htm |
EX-31.2 - EX-31.2 - INTERMOUNTAIN COMMUNITY BANCORP | v55190exv31w2.htm |
EX-31.1 - EX-31.1 - INTERMOUNTAIN COMMUNITY BANCORP | v55190exv31w1.htm |
Exhibit 99.1
CERTIFICATION
OF
CHIEF EXECUTIVE OFFICER
OF
CHIEF EXECUTIVE OFFICER
Pursuant to the requirements of Section 111(b)(4) of the
Emergency Economic Stabilization Act of 2008 (EESA),
and 31 CFR Part 30.15, I, Curt Hecker, President
and Chief Executive Officer of Intermountain Community Bancorp
(Intermountain), certify, based on my knowledge,
that:
(i) The compensation committee of Intermountain has
discussed, reviewed, and evaluated with senior risk officers at
least every six months during the period beginning on the later
of September 14, 2009 or ninety days after the closing date
of the agreement between Intermountain and Treasury and ending
with the last day of Intermountains fiscal year containing
that date (the applicable period), senior executive officer
(SEO) compensation plans and the employee compensation plans and
the risks these plans pose to Intermountain;
(ii) The compensation committee of Intermountain has
identified and limited during the applicable period any features
of the SEO compensation plans that could lead SEOs to take
unnecessary and excessive risks that could threaten the value of
Intermountain, and during that same applicable period has
identified any features of the employee compensation plans that
pose risks to Intermountain and limited those features to ensure
that Intermountain is not unnecessarily exposed to risks;
(iii) The compensation committee has reviewed at least
every six months during the applicable period, the terms of each
employee compensation plan and identified any features of the
plan that could encourage the manipulation of reported earnings
of Intermountain to enhance the compensation of an employee and
has limited any such features;
(iv) The compensation committee of Intermountain will
certify to the reviews of the SEO compensation plans and
employee compensation plans required under (i) and
(iii) above;
(v) The compensation committee of Intermountain 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
(A) SEO compensation plans that could lead SEOs to take
unnecessary and excessive risks that could threaten the value of
Intermountain;
(B) Employee compensation plans that unnecessarily expose
Intermountain to risks; and
(C) Employee compensation plans that could encourage the
manipulation of reported earnings of Intermountain to enhance
the compensation of an employee;
(vi) Intermountain 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) Intermountain has prohibited any golden parachute
payment, as defined in the regulations and guidance established
under section 111 of EESA, to an SEO or any of the next
five most highly compensated employees during the period
beginning on the later of the closing date of the agreement
between Intermountain and Treasury or June 15, 2009 and
ending with the last day of Intermountains fiscal year
containing that date;
(viii) Intermountain has limited bonus payments to its
applicable employees in accordance with section 111 of EESA
and the regulations and guidance established thereunder during
the period beginning on the later of the closing date of the
agreement between Intermountain and Treasury or June 15,
2009 and ending with the last day of Intermountains fiscal
year containing that date;
(ix) The board of directors of Intermountain has
established an excessive or luxury expenditures policy, as
defined in the regulations and guidance established under
section 111 of EESA by the later of September 14,
2009, or ninety days after the closing date of the agreement
between Intermountain and Treasury; this policy has been
provided to Treasury and its primary regulatory agency;
Intermountain and its employees have
complied with this policy during the applicable period; and any
expenses that, pursuant to this policy, 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) Intermountain 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 period beginning on the later of the closing
date of the agreement between Intermountain and Treasury or
June 15, 2009 and ending with the last day of
Intermountains fiscal year containing that date;
(xi) Intermountain will disclose the amount, nature, and
justification for the offering during the period beginning on
the later of the closing date of the agreement between
Intermountain and Treasury or June 15, 2009 and ending with
the last day of Intermountains fiscal year containing that
date of any perquisites, as defined in the regulations and
guidance established under section 111 of EESA, whose total
value exceeds $25,000 for any employee who is subject to the
bonus payment limitations identified in paragraph (viii);
(xii) Intermountain will disclose whether Intermountain,
the board of directors of Intermountain, or the compensation
committee of Intermountain has engaged during the period
beginning on the later of the closing date of the agreement
between Intermountain and Treasury or June 15, 2009 and
ending with the last day of Intermountains fiscal year
containing that date, a compensation consultant; and the
services the compensation consultant or any affiliate of the
compensation consultant provided during this period;
(xiii) Intermountain 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 period beginning on the
later of the closing date of the agreement between Intermountain
and Treasury or June 15, 2009 and ending with the last day
of Intermountains fiscal year containing that date;
(xiv) Intermountain has substantially complied with all
other requirements related to employee compensation that are
provided in the agreement between Intermountain and Treasury,
including any amendments;
(xv) Intermountain has submitted to Treasury a complete and
accurate list of the SEOs and the twenty next 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 employer 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.
/s/ Curt
Hecker
Curt Hecker, President and
Chief Executive Officer