Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Avg
|
New words:
Admiral, artificial, Axo, BancFirst, Bancompany, Bankcorp, BayBank, BEB, Berkshire, Bureau, carefully, CFPB, Chamber, color, comment, Commerce, compounded, confidentiality, Correspondingly, CVB, Database, deployment, Dime, domiciled, Dominion, double, Eastern, enjoined, escalation, exploited, exploring, FB, feasible, fire, flooding, founder, gasoline, harm, harmful, Hilltop, Hoc, Homeland, Hope, incident, Indiana, inevitable, intelligence, intrusion, jeopardize, JPMorgan, Kenneth, ladder, Lakeland, Lift, lost, LUH, maliciously, malware, Navy, Nazarene, NIST, overseen, persistently, phishing, pilot, platform, policymaking, PR, realignment, Rear, resume, RSA, rulemaking, scalable, sophisticated, Spinnaker, static, Stellar, threat, timeframe, Toronto, TriState, Trustmark, TX, uncontrollable, undertook, unfavorable, unintentional, unsatisfactory, upgrade, variance, VarR, Veritex, vigilance, vintage, vision, WesBanco
Removed:
adhering, adjunct, administrator, Ahead, Ally, alternate, amendment, American, appeal, appealed, Appellate, arena, ARRC, ascertained, Australia, Carroll, Cendant, Century, Circuit, Clancy, CliftonLarsenAllen, compel, compelling, complicated, convened, converge, convertible, cooling, corridor, deeply, denied, denying, deployed, determinable, dismissing, disregarding, disruptive, dominant, downturn, emerge, environmental, ERM, eventual, executing, facilitated, fallback, FCA, footnote, forbearance, granting, HATFA, heating, heighten, HHNE, Highway, holiday, Huntington, improving, incorporating, indefinitely, indirect, Industriel, initially, intention, Kingdom, language, legacy, Lightfoot, logical, marketing, modernization, motion, MUFG, multiplying, NA, Nomura, Northern, Nova, novo, offsite, OIS, onsite, outpaced, overcollateralization, Patrick, persuade, persuading, prioritized, professor, publication, publishing, rationale, realizable, reargument, refiled, renegotiate, replace, replaced, Rescue, residence, retrospectively, Richard, ruling, Santander, satisfying, Scotia, segment, select, shortly, signaling, smoothed, stabilization, staffing, stay, stored, strictly, successful, sustain, titled, transitional, Tuttle, unbudgeted, unrepresentative, unscheduled, updating, vacation, Valley, waiting, widely, widen, Wyman, Zealand
Financial report summary
?Management Discussion
- Net income increased to $257.3 million for the year ended December 31, 2023, from $184.2 million for the year ended December 31, 2022. The primary reasons for the increase are discussed under Executive Summary.
- Net interest income after provision for credit losses for the year ending December 31, 2023, was $375.2 million, compared with $282.3 million for 2022. The $92.9 million increase in net interest income after provision for credit losses was driven by an increase in yields, a $16.6 billion increase in the average balance of advances, a $1.6 billion increase in the average balance of money market investments, a $1.1 billion increase in the average balance of investments securities, and a $665.1 million increase in the average balance of total capital. These improvements to net interest income were realized despite a $59.3 million unfavorable variance in net unrealized gains and losses on fair value hedge ineffectiveness attributable to a decline in intermediate-term interest rates during the year ended December 31, 2023, compared to an increase in interest rates during 2022, and a $28.2 million increase in net amortization of MBS premium. Net interest spread was 0.21 percent for the year ending December 31, 2023, a decrease of 21 basis points from the same period in 2022, and net interest margin was 0.55 percent, a decrease of two basis points from the same period in 2022.
- Table 6 presents major categories of average balances, related interest income/expense, and average yields/rates for interest-earning assets and interest-bearing liabilities. Our primary source of earnings is net interest income, which is the interest earned on advances, mortgage loans, and investments less interest paid on COs, deposits, and other sources of funds.