Risk Factors Update Summary
- The Federal Reserve increased the interest rate range from 4.25% to 5.50% in 2023.
- The company's securities portfolio was impacted by losses in the value of securities portfolios.
- A series of bank failures in spring 2023 was triggered by losses due to rising interest rates.
- The company's securities portfolio was adversely affected by bank failures due to rising interest rates.
- The company's securities portfolio includes restructured loans, which affect net income.
- The company's securities portfolio includes commercial mortgage, commercial and industrial, and construction loans.
- The company's securities portfolio includes real estate owned properties, affecting the ability to solicit loans.
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=828944&owner=exclude
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