Risk Factors Update Summary
- The Company acquired Cornerstone, increasing commercial real estate loans from $873 million to $1 billion.
- Commercial and industrial loans increased from $28 million to $51 million, impacting total loan portfolio.
- Increased interest rates decreased securities portfolio value, affecting liquidity and potential losses.
- Transition to CECL model may impact financial assets and profitability, requiring adjustments in reporting.
- Regulatory scrutiny and new regulations may increase costs and reduce profitability, affecting operations.
- Increased competition for deposits may hamper deposit growth, impacting funding costs and financial performance.
- Strategic risks related to growth strategy and lending limits may restrict business expansion and competitiveness.
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=1913971&owner=exclude
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