Legal Proceedings
−Removed: The Company and the Bank are involved as plaintiff or defendant in various legal actions arising in the normal course of business.
−Removed: In our opinion, after consultation with legal counsel, we believe it unlikely that such pending legal actions will have a material adverse effect on our financial condition, results of operations or liquidity.
+Added: In the normal course of business, the Company and the Bank are named defendants in various lawsuits and counterclaims.
+Added: In the opinion of management, after consultation with legal counsel, none of the currently pending suits are expected to have a materially adverse effect on the Company's consolidated financial statements.
+Added: On November 2, 2022, the Bank was served with a putative class action complaint alleging it improperly charged overdraft fees on (1) debit card transactions that were authorized for payment on sufficient funds but later settled against a negative account balance (commonly known as "authorize positive purportedly settle negative" or "APPSN" transactions) and (2) merchant re-presentments of previously rejected payment requests.
+Added: The complaint asserts a breach of contract claim (including breach of an implied covenant of good faith and fair dealing) for each practice.
+Added: The Bank believes that this lawsuit is without merit and intends to vigorously defend against the asserted claims.
+Added: The Company assesses the liabilities and loss contingencies in connection with pending or threatened legal and regulatory proceedings on at least a quarterly basis and establishes accruals when it is believed to be probable that a loss may be incurred and that the amount of such loss can be reasonably estimated.
Mine Safety Disclosures
1 unchanged sentence
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.