Risk Factors Update Summary
- Unemployment rate in Lynchburg MSA increased from 2.9% to 3.6%, impacting local economic conditions.
- Potential net loss of earnings due to real estate loan portfolio changes.
- Increase in allowance for loan credit losses from 1.02% to 22% of total loans.
- Fed funds target rate rose from 0.25% to 5.5%, affecting interest expenses.
- Unrealized losses in available-for-sale securities decreased from $26,781,000 to $21,615,000.
- Failure to implement new technologies may hinder growth and profitability.
- Additional regulation and supervision may increase costs and impact business opportunities.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1275101&owner=exclude
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