1 unchanged sentence
The Company's Form 10-K for the year ended December 31, 2021 provides information on risk factors at that time and mentions the potential economic consequences associated with the COVID-19 outbreak.
−Removed: Since the 10-K was published, the COVID-19 outbreak continues to be a worldwide pandemic with a myriad of adverse impacts upon society as a whole.
+Added: The COVID-19 outbreak, which evolved into a worldwide pandemic, has had a myriad of adverse impacts upon society as a whole.
The spread of COVID-19 has caused illness, quarantines, cancellation of events and travel, business and school shutdowns, reduction in business activity and financial transactions, supply chain interruptions and overall economic and financial market instability.
1 unchanged sentence
The initial restrictions and other consequences of the pandemic resulted in significant adverse effects for many different types of businesses, including, among others, those in the retail sales, travel, hospitality and food and beverage industries, and resulted in a significant number of layoffs and furloughs of employees nationwide and in the markets in which we operate.
−Removed: Restrictions have been mostly lifted nationally and within the Company's operating footprint with some level of economic recovery resulting.
−Removed: An increase in virus spread or infection rates could result in restrictions being re-implemented with further negative impact to economic activity.
−Removed: The ultimate effects of COVID-19 on the broader economy and the markets that we serve are not known nor is the ultimate length of the restrictions described above and any accompanying effects.
−Removed: Moreover, the Federal Reserve has taken action to lower the Federal Funds rate, which may negatively affect our interest income and, therefore, earnings, financial condition and results of operations.
+Added: The initial restrictions have been largely lifted nationally and within the Company's operating footprint.
+Added: While substantial progress towards vaccination has been made, an increase in virus spread or infection rates, or the emergence of new variants of the virus could result in restrictions being re-implemented with negative impacts on economic activity.
+Added: Ongoing effects of COVID-19 on the broader economy and the markets that we serve remain uncertain, as are the ultimate length of any remaining restrictions described above or any accompanying effects.
+Added: Federal Reserve action to lower the Federal Funds rate at the outset of the pandemic has had limited impact to date on our interest income and, therefore, earnings, financial condition and results of operations.
Additional impacts of COVID-19 on our business could be widespread and material, and may include, or exacerbate, among other consequences, the following:
11 unchanged sentences
• actions of governmental entities to limit business activities
−Removed: The significant contribution of tourism to the State of Maine's overall economy, and the Company's primary market areas in particular, may result in a disproportionate effect relative to other regions.
−Removed: These factors, together or in combination with other events or occurrences that may not yet be known or anticipated, may materially and adversely affect our business, financial condition and results of operations.
+Added: The significant contribution of tourism and hospitality businesses to the State of Maine's overall economy, and the Company's primary market areas in particular, may result in a disproportionate effect relative to other regions.
+Added: These factors, together or in combination with other events or occurrences related to COVID-19 that may not yet be known or anticipated, may materially and adversely affect our business, financial condition and results of operations.
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.