Risk Factors Update Summary
- Commercial borrowers now have multiple loans, increasing risk exposure. This change may lead to higher potential losses.
- Recent bank failures led to enhanced government regulation and supervision, impacting liquidity risk and FDIC insurance.
- Shift to adjustable-rate products could reduce demand for mortgage loans, impacting revenue streams.
- Increased FDIC insurance assessments due to 2023 bank failures, with a special assessment of $29.9 million.
- Interest rate risk profile changes could lead to a decrease in net interest income.
- Consent orders with DOJ and North Carolina State DOJ may limit future bank acquisitions.
- Market interest rate changes may impact the AFS securities portfolio by approximately $118.1 million.
- Increased regulatory focus on ESG matters may affect reputation and stockholder perception.
- Proposed rules on overdraft practices could lead to increased compliance costs and potential revenue impact.
- Changes in Basel III standards could result in increased supervisory expectations and regulatory scrutiny.
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=37808&owner=exclude
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