Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Bad
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New words:
ACL, adherence, aggressive, alerting, Antitrust, attain, bargain, broadly, CIO, closure, commensurate, commingled, Compnay, conclusion, constantly, conversion, converted, coordinated, counterparty, creditor, cyberattack, deficit, degrade, degraded, delegated, deliver, diversified, divest, divestiture, driver, encryption, escalation, evolving, flat, FOMC, forecast, forecasted, forecasting, fourteen, gasoline, geopolitical, Glenn, goal, hand, identity, impractical, imprecision, insignificant, instability, intermediate, intrusion, ISO, jointly, Justice, kind, lengthy, lifetime, MDR, messenger, modest, Moody, MSSP, necessity, negotiate, notify, Occasionally, overseeing, pace, pattern, PCD, penalty, pervasive, preserving, progressing, reached, reconciling, Republic, Revolving, robust, rural, Signature, Silicon, Steering, stored, sudden, swap, tapering, threat, training, trend, Umpqua, unaudited, uniformly, uninsured, unpledged
Removed:
absenteeism, Aid, allocable, assessing, assist, award, back, burden, canceled, clarifying, clear, combating, Comptroller, constant, contrast, count, court, creating, criticism, Currency, debtor, declaration, declined, destructive, disagree, dissemination, distancing, ease, emergency, enterprise, estimating, eventually, expecting, expired, fashion, feasible, felt, fifty, financially, forfeiture, frequent, governor, gradually, grouped, health, heighten, ill, indefinitely, infected, input, instituting, land, leaving, LIBOR, malware, meaningful, membership, move, nonperforming, objective, OCC, outbreak, package, partial, participated, passed, phase, planning, positivity, predetermined, pretax, prevalent, proactively, proprietary, purported, quantified, quantify, quickly, rebuilding, recordkeeping, refund, refundable, reimbursement, reliably, remote, reopening, restructure, restructured, resume, resumption, returned, reverse, scheduled, segregated, sheltering, staffing, stimulate, strict, subjected, subsided, transparent, treat, updating, victim, withdraw, workforce, worse
Financial report summary
?Risks
- Recent Negative Developments in the Banking Industry, and any Legislative and/or Bank Regulatory Actions that may Result, Could Adversely Affect our Business Operations, Results of Operations and Financial Condition.
- Economic Conditions in the U.S. May Soften or Become Recessionary with Resultant Adverse Consequences for the U.S. Financial Services Industry and for the Bank
- The Bank is Subject to Lending Risks of Loss and Repayment Associated with Commercial Banking Activities
- Increases in the Allowance for Credit Losses Would Adversely Affect the Bank’s Financial Condition and Results of Operations
- Adverse Economic Factors Affecting Certain Industries the Bank Serves Could Adversely Affect Our Business
- The Effects of Changes or Increases in, or Supervisory Enforcement of, Banking or Other Laws and Regulations or Governmental Fiscal or Monetary Policies Could Adversely Affect Us
- The Bank is Subject to Interest Rate Risk
- Beginning in 2021, the U.S. Economy Began to Reflect Relatively Rapid Rates of Increase in the Consumer Price Index and Other Economic Indices; a Prolonged Elevated Rate of Inflation Could Present Risks for the U.S. Banking Industry and Our Business.
- Our Ability to Pay Dividends is Subject to Legal Restrictions
- Competition Adversely Affects our Profitability
- Government Regulation and Legislation Could Adversely Affect the Company
- Our Controls and Procedures May Fail or be Circumvented Which Could Have a Material Adverse Effect on the Company’s Financial Condition or Results of Operations
- Changes in Deposit Insurance Premiums Could Adversely Affect Our Business
- Negative Public Opinion Could Damage Our Reputation and Adversely Affect Our Earnings
- We May Not Be Able to Hire or Retain Additional Qualified Personnel and Recruiting and Compensation Costs May Increase as a Result of Turnover, Both of Which May Increase Costs and Reduce Profitability and May Adversely Impact Our Ability to Implement Our Business Strategy
- We May Be Adversely Affected by Unpredictable Catastrophic Events or Terrorist Attacks and Our Business Continuity and Disaster Recovery Plans May Not Adequately Protect Us from Serious Disaster
- Changes in Accounting Standards Could Materially Impact Our Financial Statements
- There is a Limited Public Market for the Company’s Common Stock Which May Make It Difficult for Shareholders to Dispose of Their Shares
- Advances and Changes in Technology, and the Company’s Ability to Adapt Its Technology, May Strain Our Available Resources and Could Adversely Impact Our Ability to Compete and the Company’s Business and Operations
- Information Security Breaches or Other Technological Difficulties Could Adversely Affect the Company
- Environmental Hazards Could Have a Material Adverse Effect on the Company’s Business, Financial Condition, and Results of Operations
- The Company May Not Be Successful in Raising Additional Capital Needed in the Future
- In the Future, the Company May Be Required to Recognize Impairment With Respect to Investment Securities, Which May Adversely Affect our Results of Operations
- Our Operations, Businesses and Customers Could be Materially Adversely Affected by the Physical Effects of Climate Change, as well as Governmental and Societal Responses to Climate Change
Management Discussion
- Net income for the year ended December 31, 2023, was $21.6 million, representing an increase of $5.7 million, or 35.7%, compared to net income of $15.9 million for the year ended December 31, 2022. The increase in net income was attributable to an increase in net interest income of $11.8 million and an increase in non-interest income of $0.9 million, which was partially offset by an increase in provision for credit losses of $0.2 million, increase in non-interest expenses of $4.6 million and $2.3 million increase in provision for income taxes. The increase in non-interest income was primarily due to the bargain purchase gain of $1.4 million as a result of the acquisition of the Colusa, Willows, and Orland branches located in California in the first quarter of 2023.