Risk Factors Update Summary
- Market interest rates increased from 4.25% to 5.50% by the end of 2023.
- Transition from LIBOR to another benchmark rate could materially affect growth operations.
- Concentrations of loans shifted with commercial and industrial loans decreasing from 13% to 11%.
- Failure to meet regulatory requirements for security could result in significant operational disruption.
- Unrealized losses of $15.6 million were realized from rebalancing the securities portfolio.
- Loans originated in the past three years represented 57.9% of the total loan portfolio.
- Fraudulent activities, if increased, could lead to additional steps to reduce fraud risk.
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=1675644&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.