4 unchanged sentences
The Company is not subject to foreign currency exchange or commodity price risk.
−Removed: During the three and six months ended June 30, 2021, the Company conducted zero transactions involving derivative instruments requiring bifurcation in order to hedge interest rate or market risk.
+Added: During the three and nine months ended September 30, 2021, the Company conducted zero transactions involving derivative instruments requiring bifurcation in order to hedge interest rate or market risk.
Interest Rate Risk Exposure Analysis
7 unchanged sentences
An increase in the EVE is considered favorable, while a decline is considered unfavorable.
−Removed: The changes in EVE between the Pre-Shock Scenario and various Rate Shock Scenarios due to fluctuations in interest rates reflect the interest rate sensitivity of the Company’s assets, liabilities, and off-balance sheet items that are
−Removed: included in the EVE.
+Added: The changes in EVE between the Pre-Shock Scenario and various Rate Shock Scenarios due to fluctuations
+Added: in interest rates reflect the interest rate sensitivity of the Company’s assets, liabilities, and off-balance sheet items that are included in the EVE.
Management reports the EVE results to the Board of Directors on a quarterly basis.
8 unchanged sentences
No matter the care and precision with which the estimates are derived, actual cash flows could differ significantly from the Company’s estimates resulting in significantly different EVE calculations.
−Removed: The analysis that follows presents, as of June 30, 2021 and December 31, 2020, the estimated EVE at both the Pre-Shock Scenario and the +100 Basis Point Rate Shock Scenario.
−Removed: June 30, 2021
+Added: The analysis that follows presents, as of September 30, 2021 and December 31, 2020, the estimated EVE at both the Pre-Shock Scenario and the +100 Basis Point Rate and +200 Basis Point Rate Shock Scenarios.
+Added: September 30, 2021
December 31, 2020
2 unchanged sentences
+ 200 Basis Points
+Added: + 100 Basis Points
Pre-Shock Scenario
−Removed: The Company’s Pre-Shock Scenario EVE increased from $593.4 million at December 31, 2020 to $1.06 billion at June 30, 2021.
−Removed: The primary factor contributing to the significant increase in EVE at June 30, 2021, was the completion of the Merger in the first quarter.
−Removed: The Company’s EVE in the +100 Basis Point Rate Shock Scenario increased from $597.4 million at December 31, 2020 to $1.23 billion at June 30, 2021.
+Added: The Company’s Pre-Shock Scenario EVE increased from $593.4 million at December 31, 2020 to $1.15 billion at September 30, 2021.
+Added: The primary factor contributing to the significant increase in EVE at September 30, 2021, was the completion of the Merger in the first quarter.
+Added: The Company’s EVE in the +100 Basis Point Rate and +200 Basis Point Rate Shock Scenarios increased from $597.4 million and $601.3 million, respectively, at December 31, 2020, to $1.28 billion and $1.37 billion, respectively, at September 30, 2021.
Income Simulation Analysis .
2 unchanged sentences
Management reports the net interest income simulation results to the Company’s Board of Directors on a quarterly basis.
−Removed: The following table discloses the estimated changes to the Company’s net interest income over the 12-month period beginning June 30, 2021 assuming gradual changes in interest rates for the given rate scenarios:
+Added: The following table discloses the estimated changes to the Company’s net interest income over the 12-month period beginning September 30, 2021 assuming gradual changes in interest rates for the given rate scenarios:
Percentage Change in
4 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.