Item 1A. Risk Factors
Item 1A. “RISK FACTORS”
in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2024,
which could materially affect our business, financial condition
or future results. The risks described in our annual report on
Form 10-K are not the only the risks facing our Company.
The persistence of inflation above the Federal Reserve’s
long
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 may continue to affect the levels
of
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’
equity.
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
uncertainties not currently known to us or that we currently deem to be
immaterial also may materially adversely affect our
b
usiness, financial condition, and/or operating results in the future.
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ITEM 2.
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
The Company did not make any unregistered sales of common stock or other equity
securities during the third quarter of
2025.
ITEM 3.
DEFAULTS
UPON SENIOR SECURITIES
Not applicable.
ITEM 4.
MINE SAFETY DISCLOSURES
Not applicable.
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