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Wiki Wiki Summary
Investment banking Investment banking denotes certain activities of a financial services company or a corporate division that consist in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's agent in the issuance of debt or equity securities.
Investment management Investment management is the professional asset management of various securities, including shareholdings, bonds, and other assets, such as real estate, to meet specified investment goals for the benefit of investors. Investors may be institutions, such as insurance companies, pension funds, corporations, charities, educational establishments, or private investors, either directly via investment contracts or, more commonly, via collective investment schemes like mutual funds, exchange-traded funds, or REITs.
Stock valuation In financial markets, stock valuation is the method of calculating theoretical values of companies and their stocks. The main use of these methods is to predict future market prices, or more generally, potential market prices, and thus to profit from price movement – stocks that are judged undervalued (with respect to their theoretical value) are bought, while stocks that are judged overvalued are sold, in the expectation that undervalued stocks will overall rise in value, while overvalued stocks will generally decrease in value.
Kronos Incorporated Kronos Incorporated was an American multinational workforce management and human capital management cloud provider headquartered in Lowell, Massachusetts, United States, which employed more than 6,000 people worldwide.In February 2020, the company announced a merger with Ultimate Software and that the combined company would be led by Aron Ain and be called Ultimate Kronos Group. The merger was officially completed on April 1, 2020.
Realis mood A realis mood (abbreviated REAL) is a grammatical mood which is used principally to indicate that something is a statement of fact; in other words, to express what the speaker considers to be a known state of affairs, as in declarative sentences. Most languages have a single realis mood called the indicative mood, although some languages have additional realis moods, for example to express different levels of certainty.
Buchenwald concentration camp Buchenwald (German pronunciation: [ˈbuːxn̩valt]; literally 'beech wood') was a Nazi concentration camp established on Ettersberg hill near Weimar, Germany, in July 1937. It was one of the first and the largest of the concentration camps within Germany's 1937 borders.
Shantae Shanta is a character in the Rāmāyaṇa. She is the daughter of King Romapāda of Aṅga and wife of R̥śyaśr̥ṇga.
Politeness theory Politeness theory, proposed by Penelope Brown and Stephen C. Levinson, centers on the notion of politeness, construed as efforts on redressing the affronts to a person's self-esteems of effectively claiming positive social values in social interactions. Such self-esteem is referred as the sociological concept of face (as in "save face" or "lose face") to discuss politeness as a response to mitigate or avoid face-threatening acts such as requests or insults.
Market analysis A market analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and thus in turn of the global environmental analysis.
Market neutral An investment strategy or portfolio is considered market-neutral if it seeks to avoid some form of market risk entirely, typically by hedging. To evaluate market-neutrality requires specifying the risk to avoid.
Hedge (finance) A hedge is an investment position intended to offset potential losses or gains that may be incurred by a companion investment. A hedge can be constructed from many types of financial instruments, including stocks, exchange-traded funds, insurance, forward contracts, swaps, options, gambles, many types of over-the-counter and derivative products, and futures contracts.
President of the United States The president of the United States (POTUS) is the head of state and head of government of the United States of America. The president directs the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces.
Ghent University Ghent University (Dutch: Universiteit Gent, abbreviated as UGent) is a public research university located in Ghent, Belgium. \nEstablished before the state of Belgium itself, the university was founded by the Dutch King William I in 1817, when the region was incorporated into the United Kingdom of the Netherlands after the fall of First French Empire.
GPSS General Purpose Simulation System (GPSS) is a discrete time simulation general-purpose programming language, where a simulation clock advances in discrete steps. A system is modelled as transactions enter the system and are passed from one service (represented by blocks) to another.
Government revenue Government revenue or national revenue is money received by a government from taxes and non-tax sources to enable it to undertake government expenditures. Government revenue as well as government spending are components of the government budget and important tools of the government's fiscal policy.
Optimism bias Optimism bias (or the optimistic bias) is a cognitive bias that causes someone to believe that they themselves are less likely to experience a negative event. It is also known as unrealistic optimism or comparative optimism.
Metropolitan statistical area In the United States, a metropolitan statistical area (MSA) is a geographical region with a relatively high population density at its core and close economic ties throughout the area. Such regions are neither legally incorporated as a city or town would be, nor are they legal administrative divisions like counties or separate entities such as states; because of this, the precise definition of any given metropolitan area can vary with the source.
Microfoundations Microfoundations are an effort to understand macroeconomic phenomena in terms of economic agents' behaviors and their interactions. Research in microfoundations explores the link between macroeconomic and microeconomic principles in order to explore the aggregate relationships in macroeconomic models.
Income in the United Kingdom Median household disposable income in the UK was £29,400 in the financial year ending (FYE) 2019, up 1.4% (£400) compared with growth over recent years; median income grew by an average of 0.7% per year between FYE 2017 and FYE 2019, compared with 2.8% between FYE 2013 and FYE 2017.The rise in median income has occurred during a period where the employment rate grew by 0.5 percentage points, while real total pay for employees increased by an average of 1.0% across the 12 months in FYE 2019 compared with FYE 2018.Median income of people living in retired households increased by 1.1% (£300), while the median income of people living in non-retired households grew by 1.3% (£400).\n\n\n== Data sources ==\nThere are a number of different sources of data on income which results in different estimates of income due to different sample sizes, population types (e.g.
Trinity study In finance, investment advising, and retirement planning, the Trinity study is an informal name used to refer to an influential 1998 paper by three professors of finance at Trinity University. It is one of a category of studies that attempt to determine "safe withdrawal rates" from retirement portfolios that contain stocks and thus grow (or shrink) irregularly over time.In the original study success was primarily judged by whether portfolio lasted for the desired payout period, i.e., the investor did not run out of money\nduring their retirement years before passing away; capital preservation was not a primary goal, but the "terminal value" of portfolios was considered for those investors who may wish to leave bequests.
Mamie Van Doren Mamie Van Doren (born Joan Lucille Olander; February 6, 1931) is an American actress, model, singer, and sex symbol. She is perhaps best remembered for the rock 'n' roll, juvenile delinquency exploitation film Untamed Youth (1957).
James Tavernier James Henry Tavernier (/ˈtævɜ:ʳˈnɪɘʳ/; born 31 October 1991) is an English professional footballer who plays as a right-back for Scottish Premiership club Rangers, where he is club captain.After starting at the Leeds United Academy, he began his professional career at Newcastle United, spending most of his tenure on loans at six lower level clubs, including winning the League One playoffs with Rotherham United. In 2014, he signed for Wigan Athletic, where by his own admission, he struggled.
Competition regulator A competition regulator is the institution that oversees the functioning of the markets. And the Law in which it takes cognizance of situations having any type of impediments and distortions on the markets and correct them is the competition law (also known as antitrust law).
Bertrand competition Bertrand competition is a model of competition used in economics, named after Joseph Louis François Bertrand (1822–1900). It describes interactions among firms (sellers) that set prices and their customers (buyers) that choose quantities at the prices set.
Childhood trauma Childhood trauma is often described as serious adverse childhood experiences (ACEs). Children may go through a range of experiences that classify as psychological trauma; these might include neglect, abandonment, sexual abuse, emotional abuse, and physical abuse, witnessing abuse of a sibling or parent, or having a mentally ill parent.
Weis Markets Weis Markets, Inc. ( doing business as Weis and stylized as weis) is a Mid-Atlantic food retailer headquartered in Sunbury, Pennsylvania.
Vancity Vancouver City Savings Credit Union, commonly referred to as Vancity, is a member-owned financial co-operative headquartered in Vancouver, British Columbia, Canada. By asset size, Vancity is the largest community credit union in Canada as of 2019, with CA$28.2 billion in assets plus assets under administration, 60 branches and more than 543,000 members.
Savings Directive The European Union Savings Directive (EUSD), formally Council Directive 2003/48/EC of 3 June 2003 on taxation of savings income in the form of interest payments, was a directive of the European Union enacted to implement the European Union withholding tax, requiring member states to provide other member states with information on interest paid to achieve effective taxation of the payments in the member state where the taxpayer is resident for tax purposes.It was an anti-tax evasion measure, similar to FATCA. It was repealed on 10 November 2015, in favor of Directive 2014/107/EU.\n\n\n== See also ==\nEuropean Union withholding tax\nUS Foreign Account Tax Compliance Act\n\n\n== References ==\n\n\n== External links ==\n"Directive 2003/48/EC of 3 June 2003 on taxation of savings income in the form of interest payments: Text of the Directive (as amended)".
Presidente Carlos Ibáñez del Campo International Airport Presidente Carlos Ibáñez International Airport (Spanish: Aeropuerto Internacional Presidente Carlos Ibáñez) (IATA: PUQ, ICAO: SCCI) is an airport serving the city of Punta Arenas in southern Chile in the Patagonia region of South America. The airport is shared with the Chilean Air Force.
Democratic Party (United States) The Democratic Party is one of the two major contemporary political parties in the United States. It was founded in 1828 by supporters of Andrew Jackson, making it the world's oldest active political party.
2010–11 Manchester United F.C. season The 2010–11 season was Manchester United's 19th season in the Premier League and their 36th consecutive season in the top-flight of English football. It was the first season with new shirt sponsors Aon after four seasons with AIG.\nUnited began the season by beating Chelsea 3–1 at Wembley on 8 August 2010 to claim the Community Shield.
Customer service Customer service is the provision of service to customers before, during, and after a purchase. This makes it an important part of the value chain of clients.
Strategy (game theory) In game theory, a player's strategy is any of the options which they choose in a setting where the outcome depends not only on their own actions but on the actions of others. The discipline mainly concerns the action of a player in a game affecting the behavior or actions of other players.
Risk Factors
UNITED COMMUNITY BANKS INC ITEM 1A RISK FACTORS An investment in United’s common stock involves risk
Investors should carefully consider the risks described below and all other information contained in this Annual Report on Form 10-K and the documents incorporated by reference before deciding to purchase common stock
It is possible that risks and uncertainties not listed below may arise or become material in the future and affect United’s business
Recent operating results may not be indicative of future operating results
Various factors, such as increased size, economic conditions, regulatory and legislative considerations, competition and the ability to find and retain people that can make United’s community-focused operating model successful, may impede its ability to expand its market presence
If United experiences a significant decrease in its growth rate, its results of operations and financial condition may be adversely affected
United’s business is subject to the success of the local economies and real estate markets in which it operates
United’s success significantly depends on the growth in population, income levels, loans and deposits and on the continued stability in real estate values in its markets
If the communities in which it operates do not grow or if prevailing economic conditions locally or nationally are unfavorable, United’s business may be adversely affected
Adverse economic conditions in United’s specific market areas, specifically decreases in real estate property values due to the nature of United’s loan portfolio, over 90prca of which is secured by real estate, could reduce United’s growth rate, affect the ability of customers to repay their loans and generally affect United’s financial condition and results of operations
United is less able than a larger institution to spread the risks of unfavorable local economic conditions across a large number of more diverse economies
United’s concentration of construction loans is subject to unique risks that could adversely affect earnings
United’s construction loan portfolio was dlra1dtta7 billion at December 31, 2005, comprising 40prca of total loans
Construction loans are often riskier than home equity loans or residential mortgage loans to individuals
In the event of a general economic slowdown, they would represent higher risk due to slower sales and reduced cash flow that could impact the borrowers’ ability to repay on a timely basis
United may face risks with respect to future expansion and acquisitions
Also, if a business opportunity becomes available in the right market with the right management team, United may seek to acquire other financial institutions or parts of those institutions
These involve a number of risks, including: • the potential inaccuracy of the estimates and judgments used to evaluate credit, operations, management and market risks with respect to a target institution; • the time and costs of evaluating new markets, hiring or retaining experienced local management and opening new offices and the time lags between these activities and the generation of sufficient assets and deposits to support the costs of the expansion; • the incurrence and possible impairment of goodwill associated with an acquisition and possible adverse effects on results of operations; and • the risk of loss of key employees and customers
Changes in prevailing interest rates may negatively affect net income and the value of United’s assets
Changes in prevailing interest rates may negatively affect the level of net interest revenue, the primary component of net operating income
In a period of changing interest rates, interest expense may increase at different rates than the interest earned on assets
Accordingly, changes in interest rates could decrease net interest revenue
At December 31, 2005, our simulation model indicated that a 200 basis point increase in rates over the next twelve months would cause an approximate 2dtta0prca increase in net interest revenue and a 200 basis point decrease in rates over the next twelve months would cause an approximate 6dtta2prca decrease in net interest revenue
13 _________________________________________________________________ [44]Table of Contents Changes in the level of interest rates may also negatively affect the value of United’s assets and its ability to realize book value from the sale of those assets, all of which ultimately affect earnings
In addition, an increase in interest rates may decrease the demand for loans
If United’s allowance for loan losses is not sufficient to cover actual loan losses, earnings would decrease
United’s loan customers may not repay their loans according to their terms and the collateral securing the payment of these loans may be insufficient to assure repayment
United may experience significant loan losses which would have a material adverse effect on operating results
Management makes various assumptions and judgments about the collectibility of the loan portfolio, including the creditworthiness of borrowers and the value of the real estate and other assets serving as collateral for the repayment of loans
United maintains an allowance for loan losses in an attempt to cover any loan losses inherent in the portfolio
In determining the size of the allowance, management relies on an analysis of the loan portfolio based on historical loss experience, volume and types of loans, trends in classification, volume and trends in delinquencies and non-accruals, national and local economic conditions and other pertinent information
If those assumptions are incorrect, the allowance may not be sufficient to cover future loan losses and adjustments may be necessary to allow for different economic conditions or adverse developments in the loan portfolio
Competition from financial institutions and other financial service providers may adversely affect United’s profitability
The banking business is highly competitive, and United experiences competition in each of its markets from many other financial institutions
United competes with commercial banks, credit unions, savings and loan associations, mortgage banking firms, consumer finance companies, securities brokerage firms, insurance companies, money market funds and other mutual funds, as well as community, super-regional, national and international financial institutions that operate offices in its market areas and elsewhere
United competes with these institutions both in attracting deposits and in making loans
Many of United’s competitors are well-established, larger financial institutions that are able to operate profitably with a narrower net interest margin and have a more diverse revenue base
United may face a competitive disadvantage as a result of its smaller size, lack of geographic diversification and inability to spread costs across broader markets
Although United competes by concentrating marketing efforts in primary markets with local advertisements, personal contacts and greater flexibility and responsiveness in working with local customers, there can be no assurance that this strategy will continue to be successful