Risk Factors Update Summary
- Credit risks may increase due to difficulty in measuring default risk, especially with $105.5 million unrealized loss.
- Ownership risks arise from the principal stockholder owning 54% instead of 59% of outstanding shares.
- Liquidity risks could impact operations as customer deposit levels decreased over the past two years.
- Technology and cybersecurity risks heightened by increasingly sophisticated cyber-attacks targeting commercial bank accounts.
- Interest rate risks may reduce net interest income and negatively affect tangible book value per share.
- External risks, such as geopolitical developments and supply chain issues, may lead to economic recession.
- Legal and regulatory compliance risks include potential impacts from new guidelines and laws restricting operations.
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=775215&owner=exclude
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