30 unchanged sentences
Increases in interest rates thus result in decreases in the fair value of interest-earning assets, which could adversely affect the Company’s consolidated results of operations in the event they were to be sold, or, in the case of interest-earning assets classified as available-for-sale, reduce the Company’s consolidated stockholders’ equity, if retained.
−Removed: The changes in the
−Removed: value of assets and liabilities due to fluctuations in interest rates measure the interest rate sensitivity of those assets and liabilities.
+Added: The changes in the value of assets and liabilities due to fluctuations in interest rates measure the interest rate sensitivity of those assets and liabilities.
In order to measure the Company’s sensitivity to changes in interest rates, EVE is calculated under market interest rates prevailing at a given quarter-end ("Pre-Shock Scenario"), and under various other interest rate scenarios ("Rate Shock Scenarios") representing immediate, permanent, parallel shifts in the term structure of interest rates from the actual term structure observed in the Pre-Shock Scenario.
19 unchanged sentences
Pre-Shock Scenario
−Removed: The Company’s Pre-Shock Scenario EVE increased from $593.4 million at December 31, 2020 to $1.22 billion at December 31, 2021.
−Removed: The primary factor contributing to the significant increase in EVE at December 31, 2021, was the completion of the Merger in the first quarter.
−Removed: 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 $1.33 billion and $1.41 billion, respectively, at December 31, 2021.
+Added: The Company’s Pre-Shock Scenario EVE increased from $1.22 billion at December 31, 2021 to $1.64 billion at December 31, 2022.
+Added: The primary factor contributing to the increase in EVE at December 31, 2022, was the increase in value of the Bank’s low-cost deposit base relative to the current rate environment.
+Added: Throughout 2022, market interest rates utilized in the calculation of economic value increased materially across all yield curve points.
+Added: However, the Bank continued to maintain a relatively low-cost funding base during this time even as market rates have risen measurably, resulting in additional economic value.
+Added: The Company’s EVE in the +100 Basis Point Rate and +200 Basis Point Rate Shock Scenarios increased from $1.33 billion and $1.41 billion, respectively, at December 31, 2021, to $1.70 billion and $1.72 billion, respectively, at December 31, 2022.
Income Simulation Analysis .
7 unchanged sentences
+ 100 Basis Points
+Added: - 100 Basis Points
Management also examines the potential impact to net interest income by simulating the impact of instantaneous changes to interest rates.
4 unchanged sentences
+ 100 Basis Points
+Added: - 100 Basis Points
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.