31 unchanged sentences
however, because of the short window between the passing of the CARES Act and the opening of the PPP, there is some ambiguity in the laws, rules and guidance regarding the operation of the PPP, which exposes the Company to risks relating to noncompliance with the PPP.
−Removed: For instance, other financial institutions have experienced litigation related to their process
−Removed: and procedures used in processing applications for the PPP.
+Added: For instance, other financial institutions have experienced litigation related to their process and procedures used in processing applications for the PPP.
Any financial liability, litigation costs or reputational damage caused by PPP related litigation could have a material adverse impact on our business, financial condition and results of operations.
16 unchanged sentences
Although recent regulatory guidance provides that such loan modifications are exempt from the calculation and reporting of TDRs and loan delinquencies, we cannot predict whether such loan modifications may ultimately have an adverse impact on our profitability in future periods.
−Removed: Our inability to successfully manage the increased credit risk caused by the COVID-19 pandemic could have a material adverse effect on our business, financial condition and results of operations.
+Added: Our inability to successfully manage the increased
+Added: credit risk caused by the COVID-19 pandemic could have a material adverse effect on our business, financial condition and results of operations.
We may incur impairments to goodwill or other intangibles as a result of the economic volatility resulting from the COVID-19 pandemic, which could adversely affect our financial condition, results of operations and stock price.
−Removed: As of June 30, 2020, we had approximately $17.5 million recorded as goodwill.
−Removed: We evaluate our goodwill for impairment at least annually.
−Removed: Although we conducted an impairment assessment of goodwill and intangibles in the first and second quarter of 2020 and the impairment evaluation did not identify any impairment in either quarter of 2020, there can be no assurances that prolonged significant negative economic trends resulting from the COVID-19 pandemic, including the lack of recovery in the market price of our common stock, or reduced estimates of future cash flows or disruptions to our
−Removed: business, will not result in impairments to goodwill or other intangibles, such as our core deposit intangibles.
+Added: As of September 30, 2020, we had approximately $17.5 million recorded as goodwill.
+Added: We conducted an impairment assessment of goodwill and intangibles in the first three quarters of 2020 and the impairment evaluation did not identify any impairment in either quarter of 2020.
+Added: In addition, the Company will complete a full annual assessment of goodwill in the fourth quarter of 2020, however there can be no assurances that prolonged significant negative economic trends resulting from the COVID-19 pandemic, including the lack of recovery in the market price of our common stock, or reduced estimates of future cash flows or disruptions to our business, will not result in impairments to goodwill or other intangibles, such as our core deposit intangibles.
If our analysis results in impairment to goodwill or other intangibles, we would be required to record an impairment charge to earnings in our financial statements during the period in which such impairment is determined to exist.
6 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.