Risk Factors Update Summary
- Change in debt securities portfolio value: decreased from $505 million to $497 million.
- Change in comprehensive gains: decreased from $38 million to $5 million.
- Change in cybersecurity risks: increased due to increased remote work and internet usage.
- Change in loan and lease portfolio composition: decreased from 81% to 79% commercial, financial, and agricultural.
- Change in geographic expansion: expanded into Western Pennsylvania, Northern Maryland, and may further expand.
- Change in deposit base composition: decreased from 26% to 16% noninterest-bearing deposits.
- Change in competition: facing substantial competition in all phases of business 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=102212&owner=exclude
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