17 unchanged sentences
The Committee is responsible for reviewing and reporting on the effects of the policy implementations and strategies to the Bank’s Board of Directors on a regularly scheduled basis.
−Removed: In order to manage our assets and liabilities and achieve desired levels of liquidity, credit quality, cash flow, interest rate risk, profitability and capital targets, we have focused our strategies on:
+Added: In managing our assets and liabilities to achieve desired levels interest rate risk, we have focused our strategies on:
• originating shorter-term secured commercial, agricultural and consumer loan maturities;
3 unchanged sentences
• managing our funding needs by utilizing core deposits, brokered certificates of deposits and borrowings as appropriate to extend terms and lock in fixed interest rates;
−Removed: • reducing non-interest expense and managing our efficiency ratio by implementing technologies to enhance customer service and increase employee productivity;
−Removed: • realigning supervision and control of our branch network by modifying their configuration, staffing, locations and reporting structure to focus resources on our most productive markets.
+Added: • purchasing investment securities to modify our interest rate risk profile
At times, depending on the level of general interest rates, the relationship between long- and short-term interest rates, market conditions and competitive factors, the ALCO may determine to increase the Bank’s interest rate risk position somewhat in order to maintain or improve its net interest margin.
−Removed: The following table sets forth, at March 31, 2021 and December 31, 2020 an analysis of our interest rate risk as measured by the estimated changes in Economic Value of Equity (“EVE”) resulting from an immediate and permanent shift in the yield curve (up 300 basis points and down 100 basis points).
−Removed: As of March 31, 2021 and December 31, 2020, due to the current level of interest rates, EVE estimates for decreases in interest rates greater than 100 basis points are not meaningful.
+Added: The following table sets forth, at June 30, 2021 and December 31, 2020 an analysis of our interest rate risk as measured by the estimated changes in Economic Value of Equity (“EVE”) resulting from an immediate and permanent shift in the yield curve (up 300 basis points and down 100 basis points).
+Added: As of June 30, 2021 and December 31, 2020, due to the current level of interest rates, EVE estimates for decreases in interest rates greater than 100 basis points are not meaningful.
Percent Change in Economic Value of Equity (EVE)
Change in Interest Rates in Basis Points (“bp”)
−Removed: Rate Shock in Rates (1) At March 31, 2021 At December 31, 2020
+Added: Rate Shock in Rates (1) At June 30, 2021 At December 31, 2020
+300 bp (1) % 15 %
5 unchanged sentences
This analysis assesses the risk of change in our net interest income over the next 12 months in the event of an immediate and parallel shift in the yield curve (up 300 basis points and down 100 basis points).
−Removed: The table below presents our projected change in net interest income for the various rate shock levels at March 31, 2021 and December 31, 2020.
+Added: The table below presents our projected change in net interest income for the various rate shock levels at June 30, 2021 and December 31, 2020.
Percent Change in Net Interest Income Over One Year Horizon
Change in Interest Rates in Basis Points (“bp”)
−Removed: Rate Shock in Rates (1) At March 31, 2021 At December 31, 2020
+Added: Rate Shock in Rates (1) At June 30, 2021 At December 31, 2020
+300 bp (4) % 3 %
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.