Risk Factors Update Summary
- Addition of fraud risk disclosure, including potential impact on financial results and reputation.
- Increase in inflationary pressures, with inflation likely to continue into 2024.
- Decrease in fair value of mortgage servicing rights from $20.8 million to $15.6 million.
- Increase in fair value of available for sale investment securities from $1.64 billion to $1.25 billion.
- Reduction in total assets from $9.72 billion to $9.69 billion, with expected growth to over $10 billion.
- Increase in non-owner-occupied commercial real estate loans from $1.46 billion to $1.49 billion.
- Decrease in total loans from $2.06 billion to $2.26 billion, representing 28.9% of total loans.
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=1516912&owner=exclude
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