Content analysis
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H.S. sophomore V bad
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New words:
absorption, advisory, armed, bachelor, belonging, BIC, BIPOC, Black, Botetourt, broke, built, Bulletin, cap, capturing, cashier, chargeable, CITSO, CODM, collaboration, Color, comparison, composed, contest, convenient, Council, Craig, crucial, CSIRP, curve, cycle, DEI, DIF, disaggregated, discriminatory, drawn, easier, EITF, empowering, endeavor, engineering, entrepreneurship, ERG, ERM, escalation, excellence, explanation, extraordinary, Fallback, FFIEC, formation, fundamental, grid, ground, handling, heard, hundred, IDI, inequality, inflationary, interactive, Intercontinental, interval, IRR, irrespective, LGBTQ, LGBTQIA, manipulation, Master, men, merit, mission, navigate, negligence, newly, nineteen, NIST, nondiscrimination, North, OCC, Occasionally, outlined, overlooked, oversee, overseeing, owner, Parade, Philadelphia, philosophy, plant, platform, plausible, Pride, prioritization, proficiency, racial, ransomware, reclassification, Red, Release, Renaissance, reservist, retention, RPA, rulemaking, science, sense, shift, shortfall, Side, Signature, Silicon, sixteen, sophisticated, Steering, student, suite, Task, temperature, testament, theoretical, tightening, traditionally, transmit, trivia, trucking, uninsured, unleash, unrest, untapped, Valley, venture, virtual, volunteerism, VP, vulnerable, waived, xvii, xviii
Removed:
absolute, ACL, Aid, amend, Cameron, certainty, closure, compelling, compromised, considerable, creditor, criminal, Crowe, debit, declining, deduction, directed, doubt, emanating, encouraging, expectation, Facilitation, facility, FCA, formulation, fractional, gauge, golden, granting, hired, hiring, identifiable, incrementally, lessor, maximized, opening, parachute, PCI, personally, persuading, phased, placement, posed, precise, precision, proration, quantifying, reached, realign, restored, retired, satisfying, score, securitization, seek, segmentation, simply, size, stored, sudden, tolerance, USD, validity
Financial report summary
?Management Discussion
- Net income available to common shareholders ("earnings") was $53.7 million, or $2.55 per diluted share, for the year ended December 31, 2023, compared to earnings of $58.9 million, or $3.26 per diluted share, for the year ended December 31, 2022. The decrease in diluted earnings per share in the year ended December 31, 2023 was primarily due to the rise in deposit costs year over year, as well as the dilutive effect of the Corporation's common stock offering completed in September 2022, which resulted in the issuance of over 4.2 million shares of common stock, an increase of approximately 25% in total common shares outstanding. In addition, during the year ended December 31, 2023, the Corporation repurchased 326,459 common shares at a weighted average price per share of $20.08, compared to repurchases of 50,166 common shares at a weighted average price per share of $26.75 during the year ended December 31, 2022. PPNR, a non-GAAP measure, was $77.8 million for the year ended December 31, 2023, compared to $86.8 million for the year ended December 31, 2022. The decrease in PPNR for the year ended December 31, 2023 compared to the year ended December 31, 2022 was primarily driven by the increase in deposit costs combined with the growth in technology expenses due to investments in applications aimed at enhancing both customer relationship management and customer online experience, as well as expanding service delivery channels. In addition, the Corporation had a year-over-year decrease in non-interest income as a result of lower pass-through income from small business investment companies ("SBICs").