Risk Factors Update Summary
- Added cybersecurity risk factors, including system failures and breaches, which could increase operating costs.
- Geopolitical tension risk added, impacting global financial stability and economic conditions in foreign countries.
- Increased nonperforming assets from approximately $54 million to $75 million, affecting total assets.
- Factoring and Payments operations growth strain highlighted, impacting teamwork and customer success.
- Transportation industry revenue decreased from 56% to 49%, affecting business diversification.
- Interest rates compression risk mentioned, impacting net interest income and financial condition.
- Potential increase in nonperforming assets from $6 million to $8 million, affecting operations.
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=1539638&owner=exclude
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