Risk Factors Update Summary
- A recession could lead to decreased consumer spending and lower profits, while rising interest rates could increase borrower costs.
- Failure to manage liquidity could have a material adverse effect on financial condition and results.
- Inflation remained elevated through 2022, with inflation beginning to moderate in 2023.
- Commercial real estate lending exposure equaled 361% of total risk-based capital at December 31, 2023.
- Residential mortgage loans decreased from $1.3 billion to $1.2 billion, comprising 39% to 37% of total loans.
- A decline in market capitalization could negatively impact the stock.
- Multifamily loans decreased from $906 million to $857 million, comprising 47% to 45% of the commercial mortgage portfolio.
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=740663&owner=exclude
This content requires a 'Free' membership to view. Please create one here.
This content requires a 'Free' membership to view. Please create one here.