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CONTINGENT LIABILITIES AND OTHER COMMITMENTS
12 Months Ended
Dec. 31, 2012
CONTINGENT LIABILITIES AND OTHER COMMITMENTS  
CONTINGENT LIABILITIES AND OTHER COMMITMENTS

23.          CONTINGENT LIABILITIES AND OTHER COMMITMENTS

 

The Company and its subsidiaries are involved in legal actions arising in the ordinary course of business. Management, after consultation with legal counsel, believes the ultimate disposition of those matters will not have a material adverse effect on our consolidated financial statements.

 

In the normal course of business there are outstanding contingent liabilities and other commitments such as unused letters of credit, items held for collections and unsold traveler’s checks, which are not reflected in the accompanying consolidated financial statements. Management does not anticipate any material losses as a result of these transactions.