Risk Factors Update Summary
- Addition of digital asset loans totaling $17 billion, with a decrease from $23 billion.
- Increase in commercial business loans to $701 million, now 87% of total loans.
- Introduction of risks related to operational matters, system failures, and demand for deposits.
- Increase in commercial real estate and multi-family loans to $17 billion, now 71% of total Bank capital.
- Expansion into cryptocurrency activities, with $12.3 million in BaaS customer deposits.
- Mention of potential downgrades in U.S. government securities affecting financial condition and results.
- Introduction of risks related to BaaS activities and regulatory scrutiny, impacting compliance and growth.
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=1778784&owner=exclude
This content requires a 'Free' membership to view. Please create one here.
This content requires a 'Free' membership to view. Please create one here.