Risk Factors Update Summary
- Increased needs for disbursement of funds on loans and deposits can affect liquidity. This might result in liquidity challenges.
- Pending Merger with FNCB introduces uncertainty due to fluctuating stock prices. The merger may impact shareholder value.
- Acquisitions, including the proposed merger with FNCB, could dilute existing shareholders' ownership.
- Interest rate increases to 5.25% may lead to larger borrower payments, impacting defaults and property marketability.
- Pending merger with FNCB involves issuing approximately 2,927,122 shares of Common Stock.
- Commercial real estate loans increased to $1.87 billion, comprising 65.4% of the loan portfolio.
- Provisions in articles of incorporation and bylaws could discourage potential acquisition proposals.
- Asset quality risks: Non-performing assets increased to $45 million, impacting financial condition.
- Information security risks: Cyber threats could disrupt operations and lead to financial losses.
- Liquidity risks: Failure to maintain adequate liquidity could negatively impact financial performance.
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=1056943&owner=exclude
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