Risk Factors Update Summary
- Provision for credit losses increased from $14 million to $26 million in 2023.
- Allowance for loan losses increased from $146 million to $154 million.
- Net charge-offs increased from $2 million to $17 million in 2023.
- Commercial real estate and construction loans increased from approximately $9 billion to $15 billion.
- Goodwill now affects stockholders' equity instead of capital.
- Final rule for special assessment to recover losses associated with protecting uninsured depositors approved.
- Legislation passed in California now requires entities to disclose direct and indirect greenhouse gas emissions.
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=861842&owner=exclude
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