Risk Factors Update Summary
- The impact of changes in interest rates resulted in unrealized losses on the fixed income bond portfolio.
- Potential bank failures could lead to significant market volatility and impact customer confidence.
- Liquidity risk may increase, affecting the ability to meet obligations and fund new business transactions.
- The Company may need to increase its allowance for credit losses due to inherent subjectivity.
- Non-performing assets could adversely affect net income and require additional time commitments from management.
- The use of generative artificial intelligence poses heightened cyber risks to the Bank's operations.
- Wealth management clients terminating relationships could impact the Company's ability to hire replacements.
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=1018399&owner=exclude
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