Risk Factors Update Summary
- Noted an increase in agricultural operating loans from $85 million to $101 million.
- Added "Credit Risks" section detailing a significant increase in total loans from $3.6 billion to $9 billion.
- Added risks related to climate change, including higher FHLB borrowing costs and liquidity challenges.
- Mentioned a rise in agriculturally-related loans from $300 million to $322 million.
- Highlighted potential adverse effects on insurance agency revenues due to premium rate decreases.
- Discussed the impact of cybersecurity threats on operations and potential financial losses.
- Disclosed a jump in agricultural real estate loans from $215 million to $221 million.
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=1005817&owner=exclude
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