CULL — what changed in the latest 10-Q
A section-by-section comparison of CULL'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-Q · 2024-05-14 vs the prior 10-Q · 2023-11-14
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +20 | −35 | ~10 | 27 |
| Controls & procedures | Text added/removed | +2 | −1 | 0 | 1 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Other information | Text added/removed | 0 | 0 | ~1 | 8 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Market risk (Item 3), Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2024-05-14
inflation and changes in the interest rate environment that reduce our margins and yields, our mortgage banking revenues, the fair value of financial instruments, including our mortgage servicing rights asset, or our level of loan originations, or increases the level of defaults, losses and prepayme…
the effects of natural or man-made disasters and extreme weather events;
changes in our ability to pay dividends; either at current rates or at all;
Securities available for sale decreased $634 thousand, or 2.2%, to $27.7 million at March 31, 2024 from $28.3 million at December 31, 2023. The decrease is primarily due to the paydowns received in mortgaged-backed securities. The decrease is additionally due an increase in the unrealized loss.
Total deposits decreased $563 thousand, or 0.2%, to $268.4 million at March 31, 2024 from $269.0 million at December 31, 2023. We experienced decreases in interest-bearing demand deposits of $5.0 million, or 4.7%, to $101.3 million at March 31, 2024 from $106.3 million at December 31, 2023, and regu…
Text removed vs the prior filing · source: 10-Q · 2023-11-14
inflation and changes in the interest rate environment that reduce our margins and yields, our mortgage banking revenues, the fair value of financial instruments,
including our mortgage servicing rights asset, or our level of loan originations, or increases in the level of defaults, losses and prepayments on loans we have made and make;
Securities available for sale decreased $2.5 million or 8.3%, to $27.3 million at September 30, 2023 from $29.8 million at December 31, 2022. The decrease was caused by the increase in the unrealized loss as well as paydowns received.
Total deposits decreased $18.7 million, or 6.4%, to $274.2 million at September 30, 2023 from $292.9 million at December 31, 2022. We experienced decreases in regular savings and other deposits of $16.9 million, or 21.2%, to $62.7 million at September 30, 2023 from $79.6 million at December 31, 2022…
Stockholders’ equity increased $1.0 million, or 1.0%, to $101.2 million at September 30, 2023 from $100.2 million at December 31, 2022. The increase was mainly due to the increase in retained earnings of $2.0 million for the nine months ended September 30, 2023. Stockholders' equity (book value) per…
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2024-05-14
Under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, we have evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Excha…
Act) as of the end of the period covered by the quarterly report. Based upon that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that, as of the end of the period covered by this report, our disclosure controls and procedures are effective to ensure that information re…
Text removed vs the prior filing · source: 10-Q · 2023-11-14
Under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, we have evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Excha…
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