Company – Scrape Financial
Risk Factors Summary

Risk Factors Update Summary

  • Increased loans to borrowers in Washington from 86% to 87% and loans in other states decreased from 13% to 12%.
  • Construction/land loans decreased from $78 million to $60.9 million, with a decrease in the percentage from 6.6% to 5.1% of the total loan portfolio.
  • Loans secured by properties in Washington decreased from 47% to 46% and loans in other states decreased from 3% to 2%.
  • Multifamily loans increased from $126.9 million to $138.9 million, representing 10% to 11% of the total loan portfolio.
  • Interest rate swaps outstanding increased from $95 million to $115 million, with a fair value gain from $10 million to $7.5 million.
  • Factors impacting liquidity include a decrease in business activity, negative results, or adverse regulatory action.
  • Commercial real estate loans decreased from $407.9 million to $377.9 million, representing 34% to 31% of the total loan portfolio.
  • Land loans decreased from $56 million to $47.8 million, representing 9% to 8% of the total loan portfolio.
  • Ability to borrow funding sources might be impaired by factors not specific to us.
  • Stock repurchases instead of continuing repurchases could impact financial condition and results.

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=1401564&owner=exclude

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