Risk Factors Update Summary
- Failure to address the federal debt ceiling, U.S. credit rating downgrade, and uncertain credit conditions may affect securities valuation and increase borrowing costs.
- Mortgage banking revenue decreased from $73 million in 2022 to $44 million in 2023.
- Mortgage loans held for sale decreased from $2 billion to $1 billion in 2023.
- Investment securities portfolio valuation may be adversely affected by U.S. credit rating downgrades.
- Potential future acquisitions may disrupt business operations and be more difficult or costly than expected.
- Climate change and natural disasters could negatively impact local economies and disrupt operations.
- Geopolitical matters and natural disasters may increase costs and pose risks to the business.
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=1649749&owner=exclude
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