13 unchanged sentences
However, in a declining interest rate environment, as loans with floors are repaid they generally are replaced with new loans which have lower interest rate floors.
−Removed: As of September 30, 2025, our loans with interest rate floors totaled $5.50 billion and had a weighted average floor rate of 4.91%, compared to a current average note rate of 6.47%.
−Removed: Our loans with interest rates at their floors at September 30, 2025, totaled $1.18 billion and had a weighted average note rate of 4.50%.
+Added: As of March 31, 2026, our loans with interest rate floors totaled $5.70 billion and had a weighted average floor rate of 4.98%, compared to a current average note rate of 6.30%.
+Added: Our loans with interest rates at their floors at March 31, 2026, totaled $1.37 billion and had a weighted average note rate of 5.08%.
The Company actively manages its exposure to interest rate risk through on-going adjustments to the mix of interest-earning assets and funding sources that affect the repricing speeds of loans, investments, interest-bearing deposits and borrowings.
16 unchanged sentences
Nonetheless, the interest rate sensitivity of our net interest income and net economic value of equity could vary substantially if different assumptions were used or if actual experience differs from the assumptions used.
−Removed: The following tables set forth, as of September 30, 2025, the estimated changes in our net interest income over one-year and two-year time horizons for our rate ramp and rate shock interest rate sensitivity scenarios, and the estimated changes in economic value of equity for our rate shock interest rate sensitivity scenario based on the indicated interest rate environments (dollars in thousands):
+Added: The following tables set forth, as of March 31, 2026, the estimated changes in our net interest income over one-year and two-year time horizons for our rate ramp and rate shock interest rate sensitivity scenarios, and the estimated changes in economic value of equity for our rate shock interest rate sensitivity scenario based on the indicated interest rate environments (dollars in thousands):
Interest Rate Risk Indicators - Rate Ramp
−Removed: September 30, 2025
+Added: March 31, 2026
Estimated Increase (Decrease) in
10 unchanged sentences
Interest Rate Risk Indicators - Rate Shock
−Removed: September 30, 2025
+Added: March 31, 2026
Estimated Increase (Decrease) in
10 unchanged sentences
however, no rates are allowed to go below zero.
−Removed: At September 30, 2025, the Company’s interest rate risk profile reflected a moderately asset-sensitive position in the near term, with net interest income projected to increase under rising rate scenarios and decrease under falling rate scenarios.
+Added: At March 31, 2026, the Company’s interest rate risk profile reflected a moderately asset-sensitive position in the near term, with net interest income projected to increase under rising rate scenarios and decrease under falling rate scenarios.
In contrast, the estimated long-term economic value of the balance sheet was more sensitive to interest rate changes, declining under rising rate scenarios and changing less under falling rate scenarios.
14 unchanged sentences
Finally, the ability of some borrowers to service their debt may decrease in the event of a severe change in market rates.
−Removed: The following table presents our interest sensitivity gap between interest-earning assets and interest-bearing liabilities at September 30, 2025 (dollars in thousands), based on the amounts of interest-earning assets and interest-bearing liabilities which are anticipated by us, based upon certain assumptions, to reprice or mature in each of the future periods shown.
−Removed: At September 30, 2025, total interest-earning assets maturing or repricing within one year exceeded total interest-bearing liabilities maturing or repricing in the same time period by $3.22 billion, representing a one-year cumulative gap to total assets ratio of 19.44%.
−Removed: Both the interest rate risk indicators and interest sensitivity gaps as of September 30, 2025 were within our internal policy guidelines, and management believes the current level of interest rate risk to be reasonable.
+Added: The following table presents our interest sensitivity gap between interest-earning assets and interest-bearing liabilities at March 31, 2026 (dollars in thousands), based on the amounts of interest-earning assets and interest-bearing liabilities which are anticipated by us, based upon certain assumptions, to reprice or mature in each of the future periods shown.
+Added: At March 31, 2026, total interest-earning assets maturing or repricing within one year exceeded total interest-bearing liabilities maturing or repricing in the same time period by $3.49 billion, representing a one-year cumulative gap to total assets ratio of 21.33%.
+Added: Both the interest rate risk indicators and interest sensitivity gaps as of March 31, 2026 were within our internal policy guidelines, and Management believes the current level of interest rate risk to be reasonable.
Within 6 Months After 6 Months Within 1 Year After 1 Year Within 3 Years After 3 Years Within 5 Years After 5 Years Within 10 Years Over 10 Years Total
38 unchanged sentences
For the purpose of the gap analysis, these accounts have been assigned decay rates to reflect their longer effective maturities.
−Removed: If all of these accounts had been assumed to be short-term, the one-year cumulative gap of interest-sensitive assets would have been a negative $3.2 billion, or negative 19.50% of total assets, at September 30, 2025.
+Added: If all of these accounts had been assumed to be short-term, the one-year cumulative gap of interest-sensitive assets would have been a negative $3.1 billion, or negative 18.87% of total assets, at March 31, 2026.
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.