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.
- Changes in tax laws could increase effective tax rates, affecting financial performance negatively.
- Increased regulatory focus on liquidity, deposits, capital levels, and interest rate risk management.
- Legal restrictions on taxes now include state and local taxing authorities, potentially impacting financials.
- Expansion into new geographies like Texas and Florida, acquiring a Venture Banking loan portfolio.
- Ownership of common stock by directors and officers potentially allows control of around 48%.
- Potential investment or acquisition transactions may be affected by ownership of Series E and Series F Preferred Stock.
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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