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Investment Securities
−Removed: At December 31, 2022, we had $114.5 million of investment securities consisting of United States government agency securities, corporate bonds, and treasury securities.
+Added: As of December 31, 2023, we had $162.2 million of investment securities consisting of United States government agency securities, and treasury securities.
The primary objective of investing in securities is to support our liquidity and capital needs.
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Our investment securities are exposed to market risk due to interest rate fluctuations.
−Removed: While fluctuations in interest rates do not impact our interest income from our investment securities as all of these securities have fixed interest rates, changes in interest rates may impact the fair value of the investment securities.
+Added: While all of our investment securities have fixed interest rates, changes in interest rates may impact the fair value of the investment securities and our interest income over time as funds from maturing positions are reinvested.
Since our investment securities are held as available for sale, all changes in fair value impact our other comprehensive (loss) income unless an investment security is considered impaired in which case changes in fair value are reported in other expense.
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.