Risk Factors Update Summary
- Proposed changes to Federal Home Loan Bank system may impact access to borrowings.
- Nonaccrual loans increased from $28 million to $65 million, impacting credit risk exposure.
- Increased cybersecurity risks, including potential financial loss, due to cyber-attacks.
- Nonperforming assets rose from $31 million to $72 million, affecting asset quality.
- Debit card interchange fee limits reduced revenue; CFPB proposed overdraft rule change.
- Accruing loans 30+ days delinquent decreased from $11 million to $5 million.
- FDIC imposed special assessment in 2023, potentially increasing future deposit insurance premiums.
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=730708&owner=exclude
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