Risk Factors Update Summary
- FDIC issued a final rule for a special assessment of 3.36 basis points on uninsured deposits over $5 billion, resulting in a $3.7 million charge.
- Added risks related to the commercial real estate market, with $11.5 billion in commercial loans outstanding.
- Uncertain tax positions could lead to increased income tax expense and interest if challenges arise.
- Increased regulatory focus on ESG matters could impact reputation and market price of securities.
- Legal restrictions on taxes have changed, with New Jersey now included in state and local taxing authorities.
- Transitioned $430.0 million of student-related deposits to a new sponsor bank in December 2023.
- Changes in U.S. tax law could impact effective tax rates, with retroactive effects potentially affecting financial performance.
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=1488813&owner=exclude
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