Risk Factors Update Summary
- Adverse developments in the financial services industry could impact operations. Recent bank closures highlight liquidity concerns.
- Approximately 41.6% of deposits are uninsured, posing liquidity risks if not maintained adequately.
- Changes in accounting standards may lead to insufficient allowance for credit losses, affecting financials. This could require additional provisions.
- ACL is measured based on collateral value, impacting credit losses. ACL as a percentage of total loans was 1.50%.
- Increased cybersecurity risks and costs associated with implementing new systems pose material risks.
- Regulatory changes, such as lower safe harbor amounts for past due fees, may impact revenues.
- Federal banking agencies conduct examinations, affecting policies and potentially business conditions.
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=1419536&owner=exclude
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