Content analysis
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H.S. freshman Avg
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New words:
abroad, abstain, AC, accustomed, ACL, acquainted, advisor, advisory, agenda, agent, AI, Air, Alexander, alleviate, Alwin, American, Analyst, Anna, anniversary, Appendix, Arnett, Arroyo, assumed, Assuming, attached, attend, attendance, attended, attorney, aware, Bachelor, background, Bakersfield, Bancorp, Baseline, BBA, Beach, Belyaev, BEYA, billed, Blanchard, bona, Booth, broadcast, CA, Cabinet, Cabrillo, cadence, Cal, Caldwell, CalPrivate, candidate, capture, car, CBIZ, CC, Celina, Center, Centro, CFO, CFP, Chadwick, chair, chaired, Chairman, Chairperson, Chamber, Channel, character, charitable, Chicago, children, chosen, Christian, Christopher, CIRP, clause, clawback, Clayton, club, Coastal, College, Column, Commerce, Commissioner, commonly, compatible, concept, conclusion, confer, conference, conferring, confirmed, conflict, construe, context, convicted, Cottage, County, CPA, CRO, crucial, custodian, CVCB, CVCY, dedicated, dedication, delineate, delineating, departmental, depth, Deputy, devote, Dierberg, disaster, discharging, disclaim, discretion, dispose, disregarding, dissolution, District, domain, Downey, downgraded, duty, educate, education, El, Eleventh, enable, enabling, encountered, encryption, encumber, endorsed, Engineering, English, enterprise, eradicate, eradicating, escalation, essential, excise, Exhibit, exhibited, expertise, explicit, false, familiar, Fargo, featured, fide, fiduciary, FIG, fill, FL, Florida, forfeited, forma, formula, foundation, founder, fractional, French, Fresno, Front, fulfill, fulfilling, Fullerton, Gate, George, GMAC, graduate, graduated, Grande, Grumman, guarantor, guided, Haig, Hanmi, hereinafter, heretofore, hereunder, Heritage, Hispanic, Hoefer, honest, Hueneme, hypothecate, hypothecation, implicated, Imulok, Inamed, indemnification, indemnify, influenza, inquiry, Interface, interfere, inventory, involuntary, irrevocable, ISO, Jaffray, JD, joining, KCLU, keynote, Kilowatt, kind, Lashley, Lawrence, Leader, lieu, lifetime, light, likelihood, literate, literature, logging, lookback, lump, Lung, Lutheran, Madison, mandatory, manual, manually, marketplace, Marty, Master, MBA, membership, memoranda, Meramec, MHM, Milwaukee, Mission, MO, Moharram, morale, move, multistate, NCGC, NDIA, NFP, nonemployee, nonmember, Nonprofit, nonsufficient, North, Northrop, notwithstanding, NTSA, Nusil, oilfield, Optimist, optionee, outlined, Palmer, paragraph, Parma, Partnership, pause, payout, payroll, pecuniary, peer, penetration, PEO, percentile, perquisite, personnel, Philip, philosophy, Piper, Pismo, PL, plaintiff, Planner, Podesta, Poly, Polytechnic, Pomona, Port, Postel, predefined, preliminary, prerequisite, pro, proceeding, prominent, proof, published, qualification, quartile, Rabobank, Raffo, ratified, rebranded, recapitalization, reclassification, reelection, Regent, reinstate, reinstated, relieved, reorganization, resignation, Ret, reward, Rotary, Scholarship, School, Science, secondarily, Shereef, slate, Slavic, smaller, SOC, sooner, sophistication, South, Spanish, speaker, spent, split, spouse, staffing, stage, statute, Stonier, store, study, suit, Suite, suited, surviving, Suzanne, symposium, television, Temecula, text, thereof, thereon, theretofore, therewith, Timyan, tone, top, tradable, traffic, transportation, trustee, TV, UCLA, unacceptable, unanimously, unconditionally, undergo, undergone, unexercised, unguaranteed, unintended, University, unprofitable, upper, vacant, validate, validation, Valley, vendor, venture, versed, viability, Vice, videoconferencing, volunteer, Walpole, WARM, Washington, wealth, weekly, welfare, Western, Whitewater, Wisconsin
Removed:
abundant, amortize, apparent, appraisal, backed, backward, began, capitalize, capitalizing, claim, clear, comparing, consecutive, continuance, contracted, contrast, correlate, deficiency, deliver, demonstrating, discipline, distance, Documented, ease, elevated, encouraging, excellent, executed, extensively, Facilitation, faith, forgivable, forgiven, globally, healthcare, hospitality, Importantly, improperly, inadequate, language, Lastly, legacy, libor, London, manipulation, margined, mature, MBS, minimal, moderate, nominal, noting, OTTI, panel, predominantly, predominately, presenting, procedural, protracted, rarely, reciprocal, recoverable, recovered, referencing, reimbursed, release, released, remained, replacing, repossessed, resolved, short, signficant, SOFR, stop, subprime, suspended, undertaken, USD, widening
Financial report summary
?Risks
- Terrorist attacks and threats of war may impact all aspects of our operations, revenues, costs, and stock price in unpredictable ways.
- Our business may be adversely affected by downturns in the national economy and in the economies in our market areas.
- Interest rate changes, which are beyond our control, could harm our profitability.
- Changes in interest rates could adversely affect the Company’s profitability, business, and prospects.
- CWBC and CWB have liquidity risk.
- From time to time, the Company has been dependent on borrowings from the FHLB and, infrequently, the FRB, and there can be no assurance these programs will be available as needed.
- A return of recessionary conditions could result in increases in our level of non-performing loans or reduce demand for our products and services, which could have an adverse effect on our results of operations.
- Our allowance for credit losses for loans may not be adequate to cover actual loan losses.
- All of our lending involves underwriting risks.
- The Company is dependent on real estate concentrated in the State of California.
- We operate in a highly regulated industry and the laws and regulations that govern our operations, corporate governance, executive compensation, and financial accounting or reporting, including changes in them, or our failure to comply with them, may adversely affect us.
- We are subject to periodic examination and scrutiny by a number of banking agencies and, depending upon the findings and determinations of these agencies, we may be required to make adjustments to our business that could adversely affect us.
- The short-term and long-term impact of the regulatory capital standards and the capital rules is uncertain.
- Curtailment of government guaranteed loan programs could affect a segment of the Company’s business.
- Small business customers may lack the resources to weather a downturn in the economy.
- The Company is exposed to the risk of environmental liabilities with respect to properties to which we obtain title.
- The Company’s future success will depend on our ability to compete effectively in a highly competitive market.
- If we fail to maintain proper and effective internal controls, our ability to produce accurate consolidated financial statements on a timely basis could be impaired, which could result in a loss of investor confidence in our consolidated financial reports and have an adverse effect on our stock price.
- Changes in accounting standards or inaccurate estimates or assumptions in the application of accounting policies could adversely affect our consolidated financial condition and consolidated results of operations.
- The business may be adversely affected by internet fraud.
- We may experience interruptions or breaches in our information system security.
- A failure in or breach of our operational or security systems or infrastructure, or those of our third-party vendors and other service providers, including as a result of cyber-attacks, could disrupt our businesses, result in the disclosure or misuse of confidential or proprietary information, damage our reputation, increase our costs, and cause losses.
- The success of the Company is dependent upon its ability to recruit and retain qualified employees, especially seasoned relationship bankers.
- We may be required to raise capital in the future, but that capital may not be available or may not be on acceptable terms when it is needed.
- Our ability to pay dividends and continue with share repurchases is subject to restrictions.
- Issuance of additional common stock or other equity securities in the future could dilute the ownership interest of existing shareholders.
- Central Valley and Community West are expected to incur substantial costs related to the merger and integration, and these costs may be greater than anticipated due to unexpected events.
- The future results of the combined company following the completion of the merger may suffer if the combined company does not effectively manage its expanded operations.
- The combined company may be unable to retain Central Valley or Community West personnel successfully after the completion of the merge.
- The combined company may fail to realize cost savings for the merger.
- The unaudited pro forma combined condensed financial information included in the joint proxy statement/prospectus is preliminary and the actual financial condition or results of operations of the combined company after the merger may differ materially.
- Because the fair value of the assets held by each of Central Valley and Community West at the time of the merger may fluctuate as a result of changes in interest rates, an adverse change may reduce or eliminate the anticipated benefits of the merger for Central Valley or Community West shareholders.
- Impairment of goodwill resulting from the merger may adversely affect our results of operations.
- The market price of Central Valley common stock after the merger may be affected by factors different from those affecting the shares of Community West or Central Valley currently.
- Sales of substantial amounts of Central Valley common stock in the open market by former Community West shareholders could depress Central Valley’s stock price.
- Holders of Central Valley and Community West common stock will have a reduced ownership and voting interest after the merger and will exercise less influence over management.
Management Discussion
- The impact to the Company from these items, and others of both a positive and negative nature, will be discussed in more detail as they pertain to the Company’s overall comparative performance as of and for the year ended December 31, 2023, throughout the analysis sections of this Form 10-K.
- The Company’s assets and liabilities are comprised primarily of loans and deposits, respectively. The ability to originate new loans and attract new deposits is fundamental to the Company’s asset growth. Total assets decreased to $1.09 billion at December 31, 2023, compared to December 31, 2022. However, during this same period, gross loans (including loans held for sale) increased by $12.1 million, or 1.3%, to $967.5 million as of December 31, 2023 compared to $955.3 million as of December 31, 2022. Total deposits decreased by 2.5% to $852.9 million as of December 31, 2023, from $875.1 million as of December 31, 2022.
- The table below sets forth the relative impact on net interest income of changes in the volume of interest-earning assets and interest-bearing liabilities and changes in rates earned and paid by the Company on such assets and liabilities. For purposes of this table, nonaccrual loans have been included in the average loan balances.