Risk Factors Update Summary
- Added concern over bank failures in March and April of 2023 due to significant withdrawals.
- Interest rates increased significantly in 2022, ending at 4.50% as of December 31, 2022.
- Increased interest rates negatively impacted results in 2022 and 2023, causing losses in the investment portfolio.
- Loss of deposits could lead to increased funding costs and reduced ability to raise capital.
- Competition and increasing interest rates led to higher deposit pricing, impacting net interest income.
- Increased market volatility may negatively affect the value of common stock and financial instruments.
- Failure to identify or acquire suitable acquisition candidates may impede growth 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=750686&owner=exclude
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