2 unchanged sentences
Interest rates are partly a function of decisions by the Federal Open Market Committee (FOMC) on the target range for the federal funds rate, and these decisions are sometimes difficult to anticipate.
−Removed: The FOMC lowered the federal funds target rate three times in 2024 for a total of 100 basis points and increased the target rate four times in 2023 for a total of 100 basis points, and has suggested it may continue lowering interest rates in 2025.
+Added: The FOMC lowered the federal funds target rate three times in 2025 for a total of 75 basis points and three times in 2024 for a total of 100 basis points after they increased the target rate four times in 2023 for a total of 100 basis points.
In order to manage the risks associated with changes or possible changes in interest rates, we rely primarily on our asset/liability structure.
1 unchanged sentence
We regularly review our interest rate sensitivity and adjust the sensitivity within acceptable tolerance ranges.
−Removed: At December 31, 2024, interest-earning assets exceeded interest-bearing liabilities that mature or reprice within one year (interest-sensitive gap) by $470.7 million.
+Added: At December 31, 2025, interest-earning assets exceeded interest-bearing liabilities that mature or reprice within one year (interest-sensitive gap) by $1.8 billion.
Our interest-sensitive assets as a percentage of interest-sensitive liabilities within the one-year window was 120.45% at December 31, 2025 compared with 105.28% at December 31, 2024.
29 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.