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Risk Factors Update Summary
- The elevated interest rate environment is expected to continue, impacting our securities portfolio with $99.4 million in unrealized losses at December 31, 2023.
- Our allowance for credit losses on loans increased from 0% to 1%, indicating heightened credit risk.
- Approximately 52% of our loan portfolio was comprised of real estate loans as of December 31, 2023, up from 49%.
- Nonperforming assets may rise, adversely affecting our ability to pay principal or interest on loans.
- Our growth strategy may be hindered by capital resource constraints and regulatory relationships, impacting future acquisitions.
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=1466026&owner=exclude
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