32 unchanged sentences
Net Interest Income
−Removed: Amount Change Percent Change
+Added: Amount Change Percent
(Dollars in thousands)
4 unchanged sentences
300 389,087 22,421 6.1
−Removed: The above table indicates that as of December 31, 2020, in the event of a 300 basis point increase in interest rates, whereby rates ramp up evenly over a twelve-month period, the Company would experience a 2.6%, or $8.8 million increase in net interest income.
+Added: The interest rate risk position of the Company has shifted to a more asset-sensitive during the third quarter 2021 due to the deployment of excess cash into fixed rate, longer duration assets including investment securities and loans.
+Added: As a result, the preceding table indicates that, as of December 31, 2021, in the event of a 300 basis point increase in interest rates, whereby rates ramp up evenly over a twelve-month period, there would be a 6.1% or $22.4 million increase to net interest income.
In the event of a 100 basis point decrease in interest rates, whereby rates ramp down evenly over a twelve-month period, the Company would experience a 3.7%, or $13.6 million decrease in net interest income.
+Added: In this downward rate scenario, rates on deposits have a repricing floor of zero.
Another measure of interest rate sensitivity is to model changes in economic value of equity through the use of immediate and sustained interest rate shocks.
11 unchanged sentences
300 2,021,712 214,332 11.9 % 15.7 % 20.3 %
−Removed: The preceding table indicates that as of December 31, 2020, in the event of an immediate and sustained 300 basis point increase in interest rates, the Company would experience a 10.8%, or $151.7 million increase in the present value of equity.
+Added: The preceding table indicates that as of December 31, 2021, in the event of an immediate and sustained 300 basis point increase in interest rates, the Company would experience an 11.9%, or $214.3 million increase in the present value of equity.
If rates were to decrease 100 basis points, the Company would experience a 10.9%, or $197.6 million decrease in the present value of equity.
5 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.