Risk Factors Update Summary
- The commercial real estate portfolio increased by 362% due to a merger, potentially requiring higher levels of capital.
- The Federal Reserve Board increased interest rates by 50 basis points to 5.50%. This could impact the company's financial condition and results of operations.
- The company provides banking services to cannabis industry customers, which could face legal challenges impacting profitability.
- The concentration of commercial real estate loans increased to 57% of total risk-based capital. This may attract regulatory scrutiny.
- The company faces increased regulatory scrutiny and potential higher operating costs due to changes in laws and regulations.
- Credit losses on debt securities increased to 17% of total, potentially impacting the company's financial condition.
- Failure to maintain effective internal controls could lead to losses from fraud, harming the company's financial condition.
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=1035092&owner=exclude
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