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Wiki Wiki Summary
Business risks The term business risks refers to the possibility of a commercial business making inadequate profits (or even losses) due to uncertainties - for example: changes in tastes, changing preferences of consumers, strikes, increased competition, changes in government policy, obsolescence etc. Every business organization faces various risk elements while doing business.
Integrated development environment An integrated development environment (IDE) is a software application that provides comprehensive facilities to computer programmers for software development. An IDE normally consists of at least a source code editor, build automation tools and a debugger.
2018 in American television The following is a list of events affecting American television in 2018. Events listed include television show finales and cancellations and information about controversies and carriage disputes.
Ecotourism Ecotourism is a form of tourism involving responsible travel (using sustainable transport) to natural areas, conserving the environment, and improving the well-being of the local people. Its purpose may be to educate the traveler, to provide funds for ecological conservation, to directly benefit the economic development and political empowerment of local communities, or to foster respect for different cultures and for human rights.
Tin sources and trade in ancient times Tin is an essential metal in the creation of tin-bronzes, and its acquisition was an important part of ancient cultures from the Bronze Age onward. Its use began in the Middle East and the Balkans around 3000 BC. Tin is a relatively rare element in the Earth's crust, with about two parts per million (ppm), compared to iron with 50,000 ppm, copper with 70 ppm, lead with 16 ppm, arsenic with 5 ppm, silver with 0.1 ppm, and gold with 0.005 ppm (Valera & Valera 2003, p.
Hard money loan A hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by real property. Hard money loans are typically issued by private investors or companies.
Baking Bad "Baking Bad" is the third episode of the thirteenth season of the animated sitcom Family Guy, and the 234th episode overall. It aired on Fox in the United States on October 19, 2014, and is written by Mark Hentemann and directed by Jerry Langford.
Assignment valuation In economics, assignment valuation is a kind of a utility function on sets of items. It was introduced by Shapley and further studied by Lehmann, Lehmann and Nisan, who use the term OXS valuation.
Animal Animals (also called Metazoa) are multicellular, eukaryotic organisms in the biological kingdom Animalia. With few exceptions, animals consume organic material, breathe oxygen, are able to move, can reproduce sexually, and go through an ontogenetic stage in which their body consists of a hollow sphere of cells, the blastula, during embryonic development.
Foreign direct investment A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct control.
Financial condition report In accounting, a financial condition report (FCR) is a report on the solvency condition of an insurance company that takes into account both the current financial status, as reflected in the balance sheet, and an assessment of the ability of the company to survive future risk scenarios. Risk assessment in an FCR involves dynamic solvency testing, a type of dynamic financial analysis that simulates management response to risk scenarios, to test whether a company could remain solvent in the face of deteriorating economic conditions or major disasters.
Cryptocurrency exchange A cryptocurrency exchange, or a digital currency exchange (DCE), is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. Exchanges may accept credit card payments, wire transfers or other forms of payment in exchange for digital currencies or cryptocurrencies.
Interrupter An interrupter in electrical engineering is a device used to interrupt the flow of a steady direct current for the purpose of converting a steady current into a changing one. Frequently, the interrupter is used in conjunction with an inductor (coil of wire) to produce increased voltages either by a back emf effect or through transformer action.
Rostow's stages of growth Rostow's stages of economic growth model is one of the major historical models of economic growth. It was published by American economist Walt Whitman Rostow in 1960.
New York, Susquehanna and Western Railway The New York, Susquehanna and Western Railway (reporting mark NYSW) (or New York, Susquehanna and Western Railroad and also known as the Susie-Q or the Susquehanna) is a Class II American freight railway operating over 400 miles (645 km) of track in the northeastern U.S. states of New York, Pennsylvania, and New Jersey.The railroad was formed in 1881 from the merger of several smaller railroads. Passenger service in northern New Jersey was offered until 1966.
Market concentration In economics, market concentration is a function of the number of firms and their respective shares of the total production (alternatively, total capacity or total reserves) in a market. In any industry, a handful of firms that hold a significant portion of the market share and likely engage in the practice of consolidation will indicate higher market concentration within that industry.
BOK Financial Corporation BOK Financial Corporation — pronounced as letters, "B-O-K" — is a financial services holding company headquartered in Tulsa, Oklahoma. Offering a full complement of retail and commercial banking products and services across the American Midwest and Southwest, the company is one of the 50 largest financial services firms in the U.S., and the largest in Oklahoma.
Return on equity The return on equity (ROE) is a measure of the profitability of a business in relation to the equity. Because shareholder's equity can be calculated by taking all assets and subtracting all liabilities, ROE can also be thought of as a return on assets minus liabilities.
Depend on You "Depend on You" is the fifth single released by Ayumi Hamasaki on December 9, 1998. The single reached number nine on the weekly Oricon chart, becoming her third consecutive top-ten single in Japan.
Financial statement analysis Financial statement analysis (or financial analysis) is the process of reviewing and analyzing a company's financial statements to make better economic decisions to earn income in future. These statements include the income statement, balance sheet, statement of cash flows, notes to accounts and a statement of changes in equity (if applicable).
1980 Australian federal election The 1980 Australian federal election was held in Australia on 18 October 1980. All 125 seats in the House of Representatives and 34 of the 64 seats in the Senate were up for election.
Program dependence graph In computer science, a program dependence graph (PDG) is a representation, using graph notation, that makes data dependencies and control dependencies explicit.\nThese dependencies are used during dependence analysis in optimizing compilers to make transformations so that multiple cores are used, and parallelism is improved.
List of active duty United States four-star officers There are currently 43 active-duty four-star officers in the uniformed services of the United States: 16 in the Army, 2 in the Marine Corps, 9 in the Navy, 11 in the Air Force, 2 in the Space Force, 2 in the Coast Guard, and 1 in the Public Health Service Commissioned Corps. Of the eight federal uniformed services, the NOAA Commissioned Officer Corps is the only service that does not have an established four-star position.
Board of directors A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organization, or a government agency. \nThe powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law) and the organization's own constitution and by-laws.
Nelson (director) Nelson Dilipkumar, credited in films as Nelson, is an Indian director and screenwriter who predominantly works in Tamil cinema. His films are known for featuring elements of Dark Humour.
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Furthermore: From the Studio, from the Stage Furthermore: From the Studio, from the Stage is the fifth album of Christian band Jars of Clay. It was released in 2003 by Essential Records.
Annual percentage rate The term annual percentage rate of charge (APR), corresponding sometimes to a nominal APR and sometimes to an effective APR (EAPR), is the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc. It is a finance charge expressed as an annual rate.
Regulation (European Union) A regulation is a legal act of the European Union that becomes immediately enforceable as law in all member states simultaneously. Regulations can be distinguished from directives which, at least in principle, need to be transposed into national law.
Digital rights management Digital rights management (DRM) is the management of legal access to digital content. Various tools or technological protection measures (TPM) such as access control technologies can restrict the use of proprietary hardware and copyrighted works.
Multi-level marketing Multi-level marketing (MLM), also called network marketing or pyramid selling, is a controversial marketing strategy for the sale of products or services where the revenue of the MLM company is derived from a non-salaried workforce selling the company's products or services, while the earnings of the participants are derived from a pyramid-shaped or binary compensation commission system. An MLM strategy may be an illegal pyramid scheme.In multi-level marketing, the compensation plan usually pays out to participants from two potential revenue streams.
Diablo Immortal Diablo Immortal is a free-to-play video game in the Diablo series, designed primarily for mobile devices. The massively multiplayer online action role-playing game takes place between the events of Diablo II and Diablo III. Developed by Blizzard Entertainment and NetEase, it was announced in late 2018 and released for Android and iOS on June 2, 2022, with a beta release for Windows on the same date.
History of the Democratic Party (United States) The Democratic Party is the oldest voter-based political party in the world and the oldest existing political party in the United States. The party's modern institutions were formed in the 1830s and 1840s.
Jim Crow laws Jim Crow laws were state and local laws enforcing racial segregation in the Southern United States. Other areas of the United States were affected by formal and informal policies of segregation as well, but many states outside the South had adopted laws, beginning in the late 19th century, banning discrimination in public accommodations and voting.
Internal Supervision Regulation The "Internal Supervision Regulation" (ISR) (Chinese: 内部监督规定; pinyin: Nèibù Jiāndū Guīdìng) was promulgated in 2004 to institutionalize the Communist Party of China's (CPC) inner-party supervision system, which is enforced by the Central Commission for Discipline Inspection.\n\n\n== History ==\nThe inner-party supervision system was not formalized during Mao Zedong's rule.
Risk Factors
The factors discussed below are intended to highlight risks that management believes are most relevant to our current operating environment
This listing is not intended to capture all risks associated with our business
Additional risks, including those generally affecting the industry in which we operate, risks that we currently deem immaterial and risks generally applicable to companies that have recently undertaken similar transactions, may also negatively impact our consolidated financial position, consolidated results of operations, or liquidity
Asset Quality
A significant source of risk for the Bank arises from the possibility that losses will be sustained because borrowers, guarantors and related parties may fail to perform in accordance with the terms of their loans
Most loans originated by the Bank are secured, but loans may be unsecured depending on the nature of the loan
With respect to secured loans, the collateral securing the repayment of these loans includes a wide variety of diverse real and personal property that may be affected by changes in prevailing economic, environmental and other conditions, including declines in the value of real estate, changes in interest rates, changes in monetary and fiscal policies of the federal government, wide-spread disease, terrorist activity, environmental contamination and other external events
The Company has adopted loan policies with well-defined risk tolerance limits including individual loan officer and committee approval processes
Policies and procedures outline underwriting standards, appraisal requirements, collateral valuations, financial information reviews, and ongoing quality monitoring processes that management believes are appropriate to mitigate the risk of loss within the loan portfolio
Such policies and procedures, however, may not prevent unexpected losses that could have a material adverse effect on the Company’s business, financial condition, results of operations, or liquidity
Interest Rate Risk
The banking industry’s earnings depend largely on the relationship between the yield on earning assets, primarily loans and investments, and the cost of funds, primarily deposits and borrowings
This relationship, known as the interest rate spread, is subject to fluctuation and is affected by economic and competitive factors which influence interest rates, the volume and mix of interest earning assets and interest-bearing liabilities and the level of non-performing assets
Fluctuations in interest rates affect the demand of customers for the Company’s products and services
The Bank is subject to interest rate risk to the degree that interest-bearing liabilities re-price or mature more slowly or more rapidly or on a different basis than interest earning assets
Significant fluctuations in interest rates could have a material adverse effect on the Company’s business, financial condition, results of operations or liquidity
For additional information regarding interest rate risk, see Part II, Item 7A, “Quantitative and Qualitative Disclosures About Market Risk
Under current accounting standards, the Company is not required to amortize goodwill but rather must evaluate goodwill for impairment at least 20 _________________________________________________________________ [74]Table of Contents annually
If deemed impaired at any point in the future, an impairment charge representing all or a portion of goodwill will be recorded to current earnings in the period in which the impairment occurred
The capitalized value of other intangible assets is amortized to earnings over their estimated lives
Other intangible assets are also subject to periodic impairment reviews
If these assets are deemed impaired at any point in the future, an impairment charge will be recorded to current earnings in the period in which the impairment occurred
See also Note 7 of the notes to consolidated financial statements
The Company depends upon data processing, software, communication and information exchange on a variety of computing platforms and networks and over the internet
Despite instituted safeguards, the Company cannot be certain that all of its systems are entirely free from vulnerability to attack or other technological difficulties or failures
The Company relies on the services of a variety of vendors to meet its data processing and communication needs
If information security is breached or other technology difficulties or failures occur, information may be lost or misappropriated, services and operations may be interrupted and the Company could be exposed to claims from customers
Any of these results could have a material adverse effect on the Company’s business, financial condition, results of operations or liquidity
Economic Conditions, Limited Geographic Diversification
The Company’s banking operations are located in Western and Central New York State
Because of the geographic concentration of its operations, the Company’s results depend largely upon economic conditions in this area, which include volatility in wholesale milk prices, losses of manufacturing jobs in Rochester and Buffalo, and minimal population growth throughout the region
Further deterioration in economic conditions could adversely affect the quality of the Company’s loan portfolio and the demand for its products and services, and accordingly, could have a material adverse effect on the Company’s business, financial condition, results of operations or liquidity
See also the section titled “Market Area and Competition
The financial performance and profitability of the Company will depend on its ability to execute its strategic plan and manage its future growth
Moreover, the Company’s future performance is subject to a number of factors beyond its control, including pending and future federal and state banking legislation, regulatory changes, unforeseen litigation outcomes, inflation, lending and deposit rate changes, interest rate fluctuations, increased competition and economic conditions
Accordingly, these issues could have a material adverse effect on the Company’s business, financial condition, results of operations or liquidity
Dependence on Key Personnel
The Company’s success depends to a significant extent on the management skills of its existing executive officers and directors, many of whom have held officer and director positions with the Company for many years
The loss or unavailability of any of its key personnel, including Erland E Kailbourne, Chairman of the Board of Directors, Peter G Humphrey, President and Chief Executive Officer, James T Rudgers, Executive Vice President and Chief of Community Banking, Ronald A Miller, Executive Vice President and Chief Financial Officer, George D Hagi, Executive Vice President and Chief Risk Officer, Kevin B Klotzbach, Senior Vice President and Treasurer and Bruce H Nagle, Senior Vice President and Director of Human Resources, could have a material adverse effect on the Company’s business, financial condition, results of operations or liquidity
See also Part III, Item 10, “Directors and Executive Officers of Registrant”
National competitors are much larger in total assets and capitalization, have greater access to capital markets and offer a broader array of financial services than the Company
There can be no assurance that the Company will be able to compete effectively in its markets
Furthermore, developments increasing the nature or level of competition, together with changes in our strategic plan and stricter loan underwriting standards, could have a material adverse effect on the Company’s business, financial condition, results of operations or liquidity
See also the sections titledMarket Area and Competition” and “Supervision and Regulation
Government Regulation and Monetary Policy
The Company and the banking industry are subject to extensive regulation and supervision under federal and state laws and regulations
The restrictions 21 _________________________________________________________________ [75]Table of Contents imposed by such laws and regulations limit the manner in which the Company conducts its banking business, undertakes new investments and activities and obtains financing
These regulations are designed primarily for the protection of the deposit insurance funds and consumers and not to benefit holders of the Company’s securities
Financial institution regulation has been the subject of significant legislation in recent years and may be the subject of further significant legislation in the future, none of which is in the control of the Company
Significant new laws or changes in, or repeals of, existing laws could have a material adverse effect on the Company’s business, financial condition, results of operations or liquidity
Further, federal monetary policy, particularly as implemented through the Federal Reserve System, significantly affects credit conditions for the Company, and any unfavorable change in these conditions could have a material adverse effect on the Company’s business, financial condition, results of operations or liquidity
See also “Supervision and Regulation