5 unchanged sentences
We have historically managed our sensitivity position within our established guidelines.
−Removed: Fluctuations in interest rates will ultimately impact
−Removed: both the level of income and expense recorded on most of our assets and liabilities, and the market value of all interest-earning assets and interest-bearing liabilities, other than those which have a short term to maturity.
−Removed: Interest rate risk is
−Removed: the potential of economic losses due to future interest rate changes.
−Removed: These economic losses can be reflected as a loss of future net interest income and/or a loss of current fair market values.
−Removed: The objective is to measure the effect on net
−Removed: interest income and to adjust the balance sheet to minimize the inherent risk while at the same time maximizing income.
+Added: Fluctuations in interest rates will ultimately impact both the level of income and expense recorded on most of our assets and liabilities, and the market value of all interest-earning assets and
+Added: interest-bearing liabilities, other than those which have a short term to maturity.
+Added: Interest rate risk is the potential of economic losses due to future interest rate changes.
+Added: These economic losses can be reflected as a loss of future net interest
+Added: income and/or a loss of current fair market values.
+Added: The objective is to measure the effect on net interest income and to adjust the balance sheet to minimize the inherent risk while at the same time maximizing income.
We manage our exposure to interest rates by structuring our balance sheet in the ordinary course of business.
4 unchanged sentences
Our exposure to interest rate risk is managed by the Asset/Liability Committee, or the ALCO Committee, in accordance with policies approved by the our board of directors.
−Removed: The ALCO Committee
−Removed: formulates strategies based on appropriate levels of interest rate risk.
−Removed: In determining the appropriate level of interest rate risk, the ALCO Committee considers the impact on earnings and capital on the current outlook on interest rates,
−Removed: potential changes in interest rates, regional economies, liquidity, business strategies and other factors.
−Removed: The ALCO Committee meets regularly to review, among other things, the sensitivity of assets and liabilities to interest rate changes, the
−Removed: book and market values of assets and liabilities, commitments to originate loans and the maturities of investments and borrowings.
−Removed: Additionally, the ALCO Committee reviews liquidity, cash flow flexibility, maturities of deposits and consumer and
−Removed: commercial deposit activity.
+Added: The ALCO Committee formulates
+Added: strategies based on appropriate levels of interest rate risk.
+Added: In determining the appropriate level of interest rate risk, the ALCO Committee considers the impact on earnings and capital on the current outlook on interest rates, potential changes in
+Added: interest rates, regional economies, liquidity, business strategies and other factors.
+Added: The ALCO Committee meets regularly to review, among other things, the sensitivity of assets and liabilities to interest rate changes, the book and market values
+Added: of assets and liabilities, commitments to originate loans and the maturities of investments and borrowings.
+Added: Additionally, the ALCO Committee reviews liquidity, cash flow flexibility, maturities of deposits and consumer and commercial deposit
Management employs methodologies to manage interest rate risk, which include an analysis of relationships between interest-earning assets and interest-bearing liabilities and an interest rate shock simulation model.
21 unchanged sentences
Percent Change
−Removed: in Net Interest
−Removed: Change in Fair
−Removed: Value of Equity
+Added: in Net Interest Income
+Added: Change in Fair Value of Equity
Percent Change
−Removed: in Net Interest
+Added: in Net Interest Income
Change in Fair
4 unchanged sentences
This assumption is incorporated into the simulation model and is generally not fully reflected in a gap analysis.
−Removed: The assumptions incorporated into the model are inherently uncertain and,
−Removed: as a result, the model cannot precisely measure future net interest income or precisely predict the impact of fluctuations in market interest rates on net interest income.
−Removed: Actual results will differ from the model’s simulated results due to
−Removed: timing, magnitude and frequency of interest rate changes as well as changes in market conditions and the application and timing of various strategies.
+Added: The assumptions incorporated into the model are inherently uncertain and, as
+Added: a result, the model cannot precisely measure future net interest income or precisely predict the impact of fluctuations in market interest rates on net interest income.
+Added: Actual results will differ from the model’s simulated results due to timing,
+Added: magnitude and frequency of interest rate changes as well as changes in market conditions and the application and timing of various strategies.
Impact of Inflation
8 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.