Risk Factors Update Summary
- Prime rate increases from 425 to 525 basis points between March of 2022 and July of 2023.
- Increase in market interest rates during the year ended December 31, 2023.
- Non-owner-occupied commercial real estate loans increased from 38% to 40% of the total loan portfolio.
- Loans to commercial borrowers increased from 69% to 72% of the loan portfolio.
- Mortgage servicing rights decreased from $27 million to $26.5 million as of December 31, 2023.
- Total deposits from the 20 largest deposit relationships increased from 16% to 25%.
- Cybersecurity risks highlighted with potential interruptions, breaches, and increased sophistication of cyber-criminals.
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=1163668&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.