Risk Factors Update Summary
- The Company increased its loan portfolio from $5 billion to $7 billion, with 99.5% in CRE. This change might lead to increased earnings.
- The Company's New York City rent-regulated stabilized multi-family loans increased from $161 million to $174 million.
- The Company exited all BaaS relationships, affecting 13.6% of total deposits ($781 million). This change could impact funding sources.
- The Company reported an accumulated other comprehensive loss decrease from $76 million to $54 million.
- The Company decreased its weighted average debt coverage ratio from 3.34x to 2.5x.
- The Company decided to fully exit its digital currency business due to regulatory changes.
- The Company faces increased regulatory scrutiny and risks related to its global payments business.
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=1476034&owner=exclude
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