Risk Factors Update Summary
- Rapid technological developments in financial services industry pose risks. Failure to adapt may impact operations.
- Nonperforming loans increased from $2.7 million to $7.4 million, impacting loan portfolio quality.
- Fluctuations in interest rates and credit markets increased, affecting liquidity and unrealized losses.
- Acquisition-related goodwill increased to $167.6 million, impacting financial position.
- Loan portfolio changes: CRE loans decreased from $614 million to $583 million.
- SBA loans decreased from $40 million to $34 million, affecting commercial loan portfolio.
- Commercial loans decreased from $533 million to $463 million, impacting loan portfolio composition.
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=1053352&owner=exclude
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