Content analysis
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New words:
aa, AAA, abundance, adapt, advocacy, analyze, appraise, armed, Attestation, Auditor, broader, budget, budgetary, ceiling, Certified, Challenging, CISO, clarity, classified, clawback, commensurate, constantly, consummated, coverage, deficit, degrade, degraded, delay, delegated, delinquency, Delinquent, depreciate, diligence, Disagreement, discovered, downgrade, downgraded, edged, encryption, erroneously, ESG, ESOP, EVP, fewer, FFIEC, Fitch, fluctuation, focused, forgotten, guide, illustrative, impasse, influential, innovative, insight, Israel, jeopardize, jurisdiction, labor, land, layered, light, moderated, monthly, narrowing, notable, notably, NYCRR, onboarding, opposed, password, penetration, phishing, profile, promptly, protracted, purpose, rapid, recover, run, running, shut, shutdown, Signature, Silicon, simplified, simulate, size, slightly, soliciting, sound, spending, sponsored, stakeholder, Steering, store, stream, Subtitle, supplier, tailor, technical, tighter, Title, Tool, unreasonable, unresolved, usage, Valley, viability, widespread, worldwide
Removed:
DeGennaro, disapprove, Dr
Financial report summary
?Risks
- Changes in interest rates may significantly impact our financial condition and results of operations
- Ongoing inflationary pressures and continued elevated prices may affect our results of operations and financial condition.
- We are exposed to credit risk in our lending activities.
- Our commercial loan portfolio is increasing and the inherently higher risk of loss may lead to additional provisions for credit losses or charge-offs, which would negatively impact earnings and capital.
- If our allowance for credit losses on loans (“ACLL”) is not sufficient to cover expected loan losses, our earnings could decrease.
- We may not be able to meet the cash flow requirements of our depositors or borrowers or meet our operating cash needs to fund corporate expansion and other activities.
- We are subject to claims and litigation pertaining to fiduciary responsibility and lender liability.
- We are dependent upon the services of our management team.
- Our disclosure controls and procedures may not prevent or detect all errors or acts of fraud.
- If the business continuity and disaster recovery plans that we have in place are not adequate to continue our operations in the event of a disaster, the business disruption can adversely impact our operations.
- New lines of business or new products and services may subject us to additional risks.
- We are exposed to climate risk.
- Societal responses to climate change could adversely affect our business and performance, including indirectly through impacts on our customers.
- Increasing scrutiny and evolving expectations from customers, regulators, investors, and other stakeholders with respect to our environmental, social and governance practices may impose additional costs on us or expose us to new or additional risks.
- A prolonged economic downturn, especially one affecting our geographic market area, will adversely affect our operations and financial results.
- Any downgrade in the credit rating of the U.S. government or default by the U.S. government as a result of political conflicts over legislation to raise the U.S. government’s debt limit may have a material adverse effect on us.
- The soundness of other financial institutions could adversely affect us.
- Any government shutdown could adversely affect the U.S. and global economy and our liquidity, financial condition and earnings.
- The trust wealth management fees we receive may decrease as a result of poor investment performance, in either relative or absolute terms, which could decrease our revenues and net earnings.
- The regulatory capital rules could slow our growth, cause us to seek to raise additional capital, or both.
- Changes in laws and regulations and the cost of regulatory compliance with new laws and regulations may adversely affect our operations and our income.
- Changes in cybersecurity or privacy regulations may increase our compliance costs, limit our ability to gain insight from data and lead to increased scrutiny.
- Non-compliance with the Bank Secrecy Act, or other laws and regulations could result in fines or sanctions.
- Changes in tax laws may adversely affect us, and the Internal Revenue Service or a court may disagree with our tax positions, which may result in adverse effects on our business, financial condition, and results of operations or cash flows.
- Our ability to pay dividends is subject to regulatory limitations and other limitations that may affect our ability to pay dividends to our stockholders or to repurchase our common stock.
- We may be subject to a higher effective tax rate if Trustco Realty Corp. (“Trustco Realty”) fails to qualify as
- a real estate investment trust (“REIT”).
- Changes in accounting standards could impact reported earnings.
- Strong competition within the Bank’s market areas could hurt profits and slow growth.
- Consumers and businesses are increasingly using non-banks to complete their financial transactions, which could adversely affect our business and results of operations.
- Our business could be adversely affected by third-party service providers, data breaches, and cyber-attacks.
- A failure in or breach of our operational or security systems or infrastructure, or those of third parties, could disrupt our businesses, and adversely impact our results of operations, liquidity and financial condition, as well as cause reputational harm.
- Unauthorized disclosure of sensitive or confidential client or customer information, whether through a breach of our computer systems or otherwise, could severely harm our business.
- We could suffer a material adverse impact from interruptions in the effective operation of, or security breaches affecting, our computer systems.
- Provisions in our articles of incorporation and bylaws and New York law may discourage or prevent takeover attempts, and these provisions may have the effect of reducing the market price of our stock.
- We cannot guarantee that our allocation of capital to various alternatives, including stock repurchase plans, will enhance long-term stockholder value.