What changed in this filing

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Item 1A. Risk Factors

2025-11-12 compared with 2025-08-12 · 24 added, 15 removed, 17 unchanged (70% of the section changed)

7 unchanged sentences

The persistence of inflation above the Federal Reserve’s

term targets, and the maintenance of or further

increases in, tightened Federal Reserve monetary policy by increased target

term targets, and the maintenance of or further increases in,

tightened Federal Reserve monetary policy by increased target

interest rates and reductions in the Federal Reserve’s

securities portfolio, have and are expected to continue to affect

levels of interest rates, mortgage originations and income, the market values

of our securities portfolio and loans and have

resulted in unrealized losses that have adversely affected our stockholders’

These have affected and are expected to

continue to affect our deposit costs and mixes, and consumer savings

and payment behaviors.

These may also affect our

borrowers’ operating costs, expected returns and cash flows available to

service our loans.

securities portfolio, have and may continue to affect the levels

interest rates, mortgage originations and income, the market values of

our securities portfolio and loans and have resulted in

unrealized securities losses that have adversely affected our stockholders’

Although inflation has remained above

the 2% rate, during the last year the Federal Reserve has reduced its target

federal funds range from 5.25% to 5.50% to

3.75% to 4.00%, and on October 29, 2025 announced that it would end the

roll-off of maturing securities it held beginning

December 1, 2025 as the Federal Reserve sought to meet its dual mandate of

maximum employment and 2% inflation over

the longer run.

These actions, and the changes from tighter to more accommodative monetary policy

have affected and are

expected to continue to affect our deposit costs and mixes,

and consumer savings and payment behaviors.

These may also

affect our borrowers’ operating costs, expected returns and

cash flows available to service our loans.

Additional risks and

1 unchanged sentence

immaterial also may materially adversely affect our

business, financial condition, and/or operating results in the future.

usiness, financial condition, and/or operating results in the future.

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The Company did not sell any common stock or other equity securities during

the second quarter of 2025.

The Company did not make any unregistered sales of common stock or other equity

securities during the third quarter of

UPON SENIOR SECURITIES

3 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.

What changed 10-Q

Item 1A. Risk Factors