32 unchanged sentences
It models basis point parallel shifts in market interest rates over the next one-year period.
−Removed: The following table shows the results of the scenarios as of March 31, 2021:
+Added: The following table shows the results of the scenarios as of June 30, 2021:
Net Sensitive Earnings at Risk
7 unchanged sentences
Percentage change from base — -5.0 % — % 9.5 % 19.0 % 28.9 % 38.7 %
−Removed: The EAR analysis reported at March 31, 2021 , shows that Total Interest Sensitive Income will change more rapidly than Total Interest Sensitive Expense over the next year.
+Added: The EAR analysis reported at June 30, 2021 , shows that Total Interest Sensitive Income will change more rapidly than Total Interest Sensitive Expense over the next year.
IRR is a snapshot in time.
1 unchanged sentence
The Company’s static IRR results could vary depending on which day of the week the month ends, primarily related to payroll processing and timing of when certain programs are prefunded and when the funds are received.
−Removed: The Company believes that its growing portfolio of noninterest-bearing deposits provides a stable and profitable funding vehicle and a significant competitive advantage in a rising interest rate environment, as the Company’s cost of funds would likely remain low, with less of an increase in the cost of funds expected relative to many other banks.
+Added: The Company believes that its portfolio of noninterest-bearing deposits provides a stable and profitable funding vehicle and a significant competitive advantage in a rising interest rate environment, as the Company’s cost of funds would likely remain low.
Under EVE analysis, the economic value of financial assets, liabilities and off-balance sheet instruments is derived under each rate scenario.
2 unchanged sentences
It models immediate basis point parallel shifts in market interest rates.
−Removed: The following table shows the results of the scenarios as March 31, 2021:
+Added: The following table shows the results of the scenarios as June 30, 2021:
Economic Value Sensitivity
3 unchanged sentences
Percentage change from base -13.8 % 9.3 % 16.4 % 22.2 % 27.7 %
−Removed: The EVE at risk reported at March 31, 2021 shows that the economic value of equity position is expected to benefit from rising interest rates due to the large amount of noninterest-bearing funding.
+Added: The EVE at risk reported at June 30, 2021 shows that the economic value of equity position is expected to benefit from rising interest rates due to the large amount of noninterest-bearing funding.
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.