12 unchanged sentences
When open market conditions are favorable, we also attempt to reduce interest rate risk by lengthening the maturities of our interest-bearing liabilities by using FHLB advances as a source of long-term fixed-rate funds, if necessary, and by promoting longer-term certificates of deposit.
+Added: At times, the Company may also use derivatives to adjust our interest rate risk profile.
+Added: As of December 31, 2023 we had $175 million of cash flow hedges.
At December 31, 2023, total interest-earning liabilities maturing or re-pricing within one year exceeded total interest-bearing assets maturing or re-pricing in the same period by $565.9 million, representing a negative one-year gap ratio of 3.92%.
5 unchanged sentences
3-5 years Over
−Removed: 5-10 years Over
−Removed: 10-20 years Total
+Added: 5-10 years Over 10 years Total
(Dollars in thousands)
60 unchanged sentences
Increase Decrease
−Removed: Parallel shift in interest rates over the next 12 months 100 bps 200 bps 300 bps 100 bps
+Added: Parallel shift in interest rates over the next 12 months 100 bps 200 bps 300 bps 100 bps 200 bps 300 bps
Projected percentage decrease in net interest income (1.3) % (2.7) % (4.3) % (5.0) % (10.8) % (16.9) %
25 unchanged sentences
While fluctuations are expected because of changes in interest rates, we have established policy limits for various interest rate scenarios.
−Removed: Given interest rate shocks of +100 to +300 bps and -100 bps the market value of net assets is not expected to decrease by more than 15% to 35%.
+Added: Given interest rate shocks of +100 to +300 bps and -100 to -300 bps the market value of net assets is not expected to decrease by more than 15% to 35%.
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.