Risk Factors Update Summary
- Elevated inflation and higher interest rates may impact profit potential, with Fed Funds Rate rising to 5.25%.
- Net interest income may decrease due to slower interest income growth compared to interest paid.
- Unrealized losses on AFS investment securities decreased from $312 million to $275 million.
- Commercial mortgage loans represent approximately 38% of the loan portfolio, posing increased credit risk.
- Dependence on uninsured deposits for liquidity, with approximately 33% of deposits being uninsured.
- Operational risks, including cyber threats, could negatively impact business operations and financial results.
- Changes in interest rates may affect the ability to make capital distributions, impacting financial flexibility.
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=700564&owner=exclude
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