854071--3/31/2010--PAMRAPO_BANCORP

related topics

{condition, economic, financial}

{loss, insurance, financial}

{regulation, change, law}

{acquisition, growth, future}

{financial, litigation, operation}

{cost, contract, operation}

{cost, operation, labor}

{loan, real, estate}

{debt, indebtedness, cash}

{control, financial, internal}

{stock, price, operating}

{competitive, industry, competition}

{regulation, government, change}

{stock, price, share}

Government investigations may reduce our earnings. Forensic audit of Pamrapo Service Corporation may disrupt our business, cause us to incur significant expenses and affect our financial statements for the current and prior periods. If we are unsuccessful in our effort to remediate our material weakness in our internal control over financial reporting over time, it may adversely impact our ability to report our financial condition and results of operations in the future. The Bank is subject to two cease and desist orders, which could adversely affect us. Any delay in completion of the Merger may significantly reduce the benefits expected to be obtained from the Merger. Failure to complete the Merger could negatively impact the share price and the future business results of the Company. The current economic environment poses significant challenges for us and could adversely affect our financial condition and results of operations. Liquidity risk could impair the Company s ability to fund its operations and jeopardize its financial condition. We rely, in part, on external financing to fund our operations and the unavailability of such funds in the future could adversely impact our growth strategy and prospects. Our business is subject to interest rate risk and variations in market interest rates may negatively affect our results of operations and financial condition. Changes in the interest rate environment may reduce our profits. The Bank s ability to pay dividends is subject to regulatory limitations which, to the extent we require such dividends in the future, may affect our ability to service our debt and pay dividends. We may need to continue to increase our allowance for loan losses in material amounts. We have also experienced and may continue to experience increases in net charge-offs. Our business is subject to various lending and other economic risks that could adversely impact our results of operations and financial condition. A further downturn in the New Jersey real estate market could hurt our business. We may suffer losses in our loan portfolio despite our underwriting practices. Recent changes in our management may cause uncertainty in, or be disruptive to, our general business operations. Our former President and Chief Executive Officer owns a significant amount of our common stock and may make decisions that are not in the best interests of all stockholders. We are subject to extensive regulation, which could adversely affect us. We face strong competition from other financial institutions, financial service companies and other organizations offering services similar to those offered by us, which could hurt our business. Recent legislative and regulatory initiatives to support the financial services industry have been coupled with numerous restrictions and requirements that could detrimentally affect the Company s business and require us to raise additional capital. Higher FDIC deposit insurance premiums and assessments could adversely affect Pamrapo Bancorp s financial condition.

Full 10-K form ▸

854071--3/31/2010--PAMRAPO_BANCORP_INC