Risk Factors Update Summary
- Net unrealized losses on securities available for sale decreased from $47.3 million to $40.7 million.
- A $5 million loss on the sale of securities impacted the change in net unrealized losses.
- The Company's securities available for sale totaled $276 million at December 31, 2023.
- The Company's net interest income could be adversely affected in a rising interest rate environment.
- The Company's emphasis on core deposits resulted in interest-bearing liabilities having a shorter duration than assets.
- Decreases in interest rates may result in increased prepayments of loans and mortgage-related securities.
- The Company's net interest income could be adversely affected if rates increase more rapidly.
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=842518&owner=exclude
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