Risk Factors Update Summary
- Puerto Rico's economic challenges persist, facing potential additional fiscal hurdles, impacting loan quality and business.
- The Federal Reserve has significantly increased the federal funds rate, from 4.25% to 5.50%.
- Potential decrease in net interest income if market interest rates remain high, impacting deposit rates.
- Potential $2 million decrease in income from debit card interchange fees due to exceeding $10 billion in assets.
- Liquidity risk remains, requiring access to wholesale funding sources and the Federal Reserve.
- Technology use increases efficiency but may limit strategic initiatives and impact financial condition.
- No impairment charges were necessary for goodwill and intangibles as of December 31, 2023.
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=1030469&owner=exclude
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