68 unchanged sentences
The primary repayment risks of commercial loans are that the cash flows of the borrower may be unpredictable, and the collateral securing these loans may fluctuate in value.
−Removed: In response to the Coronavirus Disease 2019 ("COVID-19"), during the year ended December 31, 2021, the Company provided $58.34 million of Paycheck Protection Program (PPP) loans which are included with commercial and financial loans in the financial statements.
−Removed: As of December 31, 2021, the Company had outstanding PPP loan balances of $5.34 million.
−Removed: Substantially all PPP loans had been forgiven as of December 31, 2022.
−Removed: See further discussion in Item 1A.
Agricultural Loans
35 unchanged sentences
Time deposits 742,855 566,888 643,934
−Removed: Other borrowings 3,648 6 9
+Added: Other short-term borrowings, including Bank Term Funding Program and federal funds purchased 214,256 3,648 6
FHLB borrowings 94,373 2,043 101,895
5 unchanged sentences
The Bank’s business is not seasonal.
−Removed: As of December 31, 2022, the Company had no employees and the Bank had 477 full-time and 50 part-time employees.
+Added: As of December 31, 2023, the Company had two employees per the table below and the Bank had 474 full-time and 43 part-time employees.
For additional discussion of the impact of the economy on the financial condition and results of operations of the Company, see Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations.
7 unchanged sentences
Roetlin 56 Mr.
−Removed: Roetlin has held the position of Treasurer and Principal Financial Officer since December 2022.
−Removed: Schueller 45 Mr.
−Removed: Schueller held the position of Treasurer and Principal Financial Officer from March 2021 until September 2022.
+Added: Roetlin has held the position of Treasurer, Senior Vice President, Chief Financial Officer and Principal Financial Officer since December 2022.
Asher has held the position of Senior Vice President, Director of Operations since June 2021.
−Removed: Becky DeWaard 62 Ms.
+Added: DeWaard 63 Ms.
DeWaard has held the position of Senior Vice President, Director of Human Resources since March 2021.
−Removed: Finer held the position of Senior Vice President, Director of Mortgage Lending since 2005.
−Removed: Subsequent to year-end, Mr.
−Removed: Finer was appointed to the position of Director of Commercial Banking.
+Added: Dozier 41 Ms.
+Added: Dozier has held the position of Senior Vice President, Director of Relationship Banking since October 2023.
+Added: Finer has held the position of Director of Commercial Banking since January 2023.
+Added: Prior to 2023, Mr.
+Added: Finer held the position of Senior Vice President, Director of Lending.
Globokar 50 Mr.
1 unchanged sentence
Hinrichs 50 Mr.
−Removed: Hinrichs has held the position of Senior Vice President, Director of Digital Strategy and Systems since June 2021.
+Added: Hinrichs has held the position of Senior Vice President, Director of Digital and Data Strategy since September 2023.
Previously, Mr.
−Removed: Hinrichs held the position of Senior Vice President, Director of Operations and Digital Banking since 2019.
+Added: Hinrichs held the positions of Senior Vice President, Director of Digital Strategy and Systems and Director of Operations and Digital Banking.
Marple 54 Mr.
−Removed: Marple has held the position of Senior Vice President, Director of Information Services since 2019.
+Added: Marple has held the position of Senior Vice President, Director of Information Services since November 2019.
Nelson 44 Ms.
Nelson has held the position of Senior Vice President, General Counsel since May 2020.
−Removed: Ropp has held the position of Senior Vice President, Director of Commercial Banking since 2008.
−Removed: Ropp retired effective December 31, 2022.
+Added: Olson 42 Matt Olson has held the position of Senior Vice President, Director of Mortgage Lending since January 2022.
Shileny 47 Ms.
2 unchanged sentences
Shileny held the position of Senior Vice President, Director of Administration since 2019 and Senior Vice President, General Counsel from 2016 to 2019.
−Removed: Slaubaugh 45 Ms.
−Removed: Slaubaugh has held the position of Senior Vice President, Director of Retail Banking since 2016.
Johnson County
80 unchanged sentences
Under the CBLR framework, the Bank is required to maintain a CBLR of greater than 9%.
−Removed: The Coronavirus Aid, Relief and Economic Security ("CARES") Act reduced the minimum ratio to 8% beginning in the 2nd quarter of 2020 through December 31, 2020, increasing to 8.5% for 2021 and returning to 9% beginning January 1, 2022.
As of December 31, 2023, the Company had regulatory capital in excess of the Federal Reserve’s minimum requirement, with a CBLR of 12.77%.
110 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.