CIZN — what changed in the latest 10-K
A section-by-section comparison of CIZN's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-K · 2024-03-29 vs the prior 10-K · 2023-03-16
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| Business | Text added/removed | +3 | −3 | ~12 | 30 |
| Risk factors | Text added/removed | +31 | 0 | ~4 | 76 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| MD&A | Text added/removed | 0 | 0 | ~1 | 1 |
| Market risk (Item 7A) | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
Business
Text added vs the prior filing · source: 10-K · 2024-03-29
Phillip R. Branch, 40, has been employed by the Bank since 2018. He has served as Senior Vice-President and Chief Financial Officer of the Bank since October 2020. Prior to October 2020, Mr. Branch held the title of Vice-President and Comptroller of the Bank from 2018 until 2020. Prior to joining Ci…
The Company has no employees other than three Bank officers who provide services to the Company. These officers receive no compensation from the Company for their services to it as their compensation is paid by the Bank. At December 31, 2023, the Bank employed 246 full-time equivalents. The Bank is …
On December 1, 2023, the Company notified the Nasdaq Stock Market, LLC (“Nasdaq”) of its intent to file a Form 25 with the SEC to effect the voluntary delisting of the Company’s common stock from Nasdaq. On December 11, 2023, the Company filed the Form 25 with the SEC, and the Company’s common stock…
Text removed vs the prior filing · source: 10-K · 2023-03-16
Greg L. McKee, 61, was employed by the Bank in 1984. He was named President and Chief Executive Officer of the Company and Chief Executive Officer of the Bank in January 2003 until his retirement in January 2023 in which he no longer serves as President and Chief Executive Officer of the Bank. He se…
Phillip R. Branch, 39, has been employed by the Bank since 2018. He has served as Senior Vice-President and Chief Financial Officer of the Bank since October 2020. Prior to October 2020, Mr. Branch held the title of Vice-President and Comptroller of the Bank from 2018 until 2020. Prior to joining Ci…
The Company has no employees other than three Bank officers who provide services to the Company. These officers receive no compensation from the Company for their services to it as their compensation is paid by the Bank. At December 31, 2022, the Bank employed 271 full-time equivalents. The Bank is …
Risk factors
Text added vs the prior filing · source: 10-K · 2024-03-29
The Company is subject to risks related to recent events impacting the financial services industry.
The high-profile bank failures of Silicon Valley Bank and Signature Bank in March 2023 and First Republic Bank in May 2023 have generated significant market volatility among publicly traded bank holding companies and, in particular, regional banks. These market developments have negatively impacted …
These rapid bank failures have also highlighted risks associated with advances in technology that increase the speed at which information, concerns and rumors can spread through traditional and new media, and increase the speed at which deposits can be moved from bank to bank or outside the banking …
General. The Company’s information security program, including its processes with respect to cybersecurity, is focused on protecting our systems, networks, and data from unauthorized access by a third party. Concerns about cybersecurity risks impact, at some level, every facet of the Company’s opera…
The Company has adopted a defense-in-depth philosophy that relies on multiple systems and processes to reasonably provide for the confidentiality, integrity, and availability of our systems, networks, and data. Features of our information security include:
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice