Risk Factors Update Summary
- The merger deadline extended to March 31, 2024, due to delays in obtaining regulatory approvals.
- Financial institutions face increased cyber threats using AI technology for attacks. Adaptation is crucial.
- The Company may need to issue additional debt to comply with capital requirements.
- Emphasizing the need for resilience, flexibility, and collaboration in the evolving cybersecurity landscape.
- The Company's CRE Loan portfolio increased by 30% to $653 million as of December 31, 2023.
- Strengthening information security through talent and human capital is vital for sustained success.
- The Company's total assets increased to $14.21 billion as of December 31, 2023.
- The FDIC issued an advisory in 2023, replacing the 2008 advisory, focusing on CRE concentrations.
- The Company's liquidity sources may be impaired, affecting its ability to fulfill obligations.
- The Company faces increased regulatory scrutiny and expectations as it grows in size.
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=1178970&owner=exclude
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