Risk Factors Update Summary
- Potential loss of SBA Preferred Lender status could impact financial results significantly.
- Managed through multi-year contracts, relationships with affinity group clients decreased from two to one.
- Added significant compliance staff may result in increased non-interest expense, likely impacting profitability.
- Prepaid, debit card, and related fees from top five contributors decreased from 57% to 54%.
- Increased allowance for credit losses to 51% of total loans and 206% of non-performing loans.
- Increased deposits from top ten affinity groups from $3.08 billion to $4.44 billion.
- Exposure to fund transfer risks includes reversals and errors, impacting financial institutions' operations.
- Changes in interest rates and loan production could reduce income, cash flows, and asset values.
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=1295401&owner=exclude
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