Risk Factors Update Summary
- Federal Reserve raised interest rates 4 times to 5.25% as of July 31, 2023.
- Interest rates increased to 4.75% effective February 2, 2023, with further increases signaled.
- Loans with real estate collateral increased from 77% to 80% as of December 31, 2023.
- Energy loans comprised 2.68% of the loan portfolio, decreasing to 2.09% by 2023.
- Market price of crude oil fluctuated from $65 to $89 per barrel.
- Increased regulatory oversight and uncertainty could impact reputation and operations.
- Dodd-Frank Act and Basel III regulations may affect operations and asset quality.
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=705432&owner=exclude
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