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| related topics |
| {loan, real, estate} |
| {system, service, information} |
| {stock, price, share} |
| {acquisition, growth, future} |
| {condition, economic, financial} |
| {loss, insurance, financial} |
| {competitive, industry, competition} |
| {tax, income, asset} |
| {regulation, government, change} |
| {personnel, key, retain} |
| {control, financial, internal} |
|
|
A large percentage of the Company s loan portfolio is secured by real estate, in particular commercial real estate. Continued deterioration in the real estate market or other segments of the Company s loan portfolio would lead to additional losses which could have a material adverse effect on the Company s business, financial condition and results of operations
Future loan losses may exceed the allowance for loan losses
Defaults may negatively impact the Company
A rapid change in interest rates could reduce the Company s net interest margin, net interest income and fee income
Tightening of credit markets and liquidity needs could result in higher funding costs, adversely affecting net income
Slower than anticipated growth from new branches, service offerings or acquisitions could result in reduced net income
Internal control systems could fail to detect certain events
The Company s operations could be interrupted if third party service providers experience difficulty, terminate their services, or fail to comply with banking regulations
The network and computer systems on which the Company depends could fail or experience a security breach
The Company may not be able to replace key members of management or attract and retain qualified employees in the future
The Company s operations are geographically concentrated in Northwest Washington State and therefore are affected by local economic conditions
There are significant risks associated with potential acquisitions, including participating in FDIC-assisted acquisitions or assuming deposits from a troubled institution
The Company s banking operations are subject to extensive government regulation that is expected to become more burdensome, increase its costs and make it less competitive compared to financial services firms that are not subject to the same regulation
Difficult market conditions have adversely affected the financial industry
Because of the Company s participation in the Troubled Asset Relief Program, the Company is subject to several restrictions including restrictions on its ability to declare or pay dividends and to repurchase its shares, as well as restrictions on compensation paid to its executives
The financial services industry is highly competitive
Shares eligible for future sale could have a dilutive effect
The failure of the Federal Home Loan Bank ( FHLB ) of Seattle or the national Federal Home Loan Bank System may have a material negative impact on the Company s earnings and liquidity
Full 10-K form ▸
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