103 unchanged sentences
As a result of our branch and whole bank acquisitions we record goodwill.
−Removed: Our consolidated balance sheet at December 31, 2023 included goodwill of $34.74 million.
+Added: Our consolidated balance sheet at December 31, 2024 included goodw ill of $34.74 m illion.
We are required to test our goodwill for impairment on a periodic basis.
65 unchanged sentences
Our mortgage banking activities provide a significant portion of our noninterest income.
−Removed: We originate and sell mortgage loans, including $344.31 m illion of mortgage loans sold during 2023.
+Added: We originate and sell mortgage loans, inc luding $211.78 mil lion of mortgage loans sold during 2024.
We rely on Federal National Mortgage Association (“FNMA”), Federal Home Loan Mortgage Corporation (“FHLMC”) and other purchasers to purchase loans in order to reduce our credit risk and provide funding for additional loans we desire to originate.
45 unchanged sentences
Furthermore, because of the inherent limitations of any system of internal control over financial reporting, including the possibility of human error, the circumvention or overriding of controls and fraud, even effective internal controls may not prevent or detect all misstatements.
+Added: We have identified a material weakness in our internal control over financial reporting.
+Added: Failure to remediate, improve and maintain the quality of internal control over financial reporting could result in material misstatements in our financial statements and could materially and adversely affect our ability to provide timely and accurate financial information about the Company, which could harm our reputation and share price.
+Added: In March 2025, we identified control deficiencies involving classification of borrowings in the financing activities section of the statement of cash flows.
+Added: Specifically, the Company’s controls were not designed at a sufficient level of precision to ensure the proper classification of borrowings as short-term or long-term so that the borrowings from and repayments to are appropriately presented either on a net basis or a gross basis within the financing section of the statement of cash flows.
+Added: Management concluded that these control deficiencies constituted a material weakness in our internal control over financial reporting, as the identified deficiencies could have had a direct or indirect impact on some of our financial reporting controls related to borrowings.
+Added: A “material weakness” is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of a company’s annual or interim financial statements will not be prevented or detected on a timely basis.
+Added: Management cannot be certain that other deficiencies or material weaknesses will not arise or be identified or that the Company will be able to correct and maintain adequate controls over financial processes and reporting in the future.
+Added: Management, with oversight from the Audit Committee, is committed to maintaining a strong internal control environment, and has taken, and will continue to take, actions necessary to remediate the material weakness.
+Added: The identified material weakness in our internal control over financial reporting will not be considered remediated until the remediated controls operate for a sufficient period of time and can be tested and concluded by management to be designed and operating effectively.
+Added: We cannot provide any assurance that our remediation efforts will be successful or that our internal control over financial reporting will be effective as a result of these efforts.
+Added: As we continue to evaluate operating effectiveness and monitor improvements to our internal control over financial reporting, we may take additional measures to address control deficiencies or modify our remediation efforts.
+Added: Unsuccessful remediation efforts could result in material misstatements in, or restatements of, the Company’s financial statements, could cause the Company to fail to meet its reporting obligations and/or could cause investors to lose confidence in the Company’s reported financial information, which would adversely affect the trading price of the Company’s common stock and harm the Company’s reputation.
+Added: In addition, such failures could result in violations of applicable securities laws, an inability to meet Nasdaq listing requirements, a default in covenants under the Company’s credit facilities, and/or exposure to lawsuits, investigations or other legal proceedings.
Changes in interest rates may change the value of our mortgage servicing rights portfolio, which may increase the volatility of our earnings .
8 unchanged sentences
The combination of these impacts along with other impacts, could cause us to not have sufficient liquidity or capital.
−Removed: At December 31, 2023, our MSR asset had a fair value of $15.85 million.
+Added: At December 31, 2024 , our MSR asset had a fair value of $15.38 mi llion.
All income related to retained servicing, including changes in the value of the MSR asset, is included in noninterest income.
2 unchanged sentences
Farmland and agriculture production lending presents unique credit risk.
−Removed: As of December 31, 2023, approximately 18.05% of our total gross loan portfolio was comprised of farmland and agricultural production loans.
−Removed: As of December 31, 2023, we had $267.89 million in farmland and agricultural production loans, including $142.59 million in farmland loans, and $125.30million in agricultural production loans.
+Added: As of December 31, 2024 , approxima tely 18.48% of our total gross loan portfolio was comprised of farmland and agricultural production loans.
+Added: As of December 31, 2024 , we had $280.96 million in farmland and agricultural production loans, including $146.61 million in farmland loans, and $134.35 mil lion in agricultural production loans.
Repayment of farmland and agricultural production loans depends primarily on the successful raising and feeding of livestock or planting and harvest of crops and marketing the harvested commodity.
47 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.