FRST — what changed in the latest 10-Q
A section-by-section comparison of FRST'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 · 2026-08-07 vs the prior 10-Q · 2026-05-08
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +67 | −52 | ~41 | 67 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~8 | 8 |
| Controls & procedures | Text added/removed | 0 | 0 | ~6 | 5 |
| Legal proceedings | Text added/removed | 0 | 0 | ~3 | 4 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | 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.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-07
●uncertainties surrounding geopolitical events, trade policy developments, tariffs and retaliatory trade measures, taxation policy and federal monetary policy, which continue to impact the outlook for future economic growth (including an economic downturn or recession), and may adversely affect our …
●risks and costs associated with the use, development and implementation of artificial intelligence technologies, including operational, compliance, model risk, cybersecurity, privacy and reputational risks;
●regulatory, legislative, supervisory, litigation, reputational and operational risks associated with the provision of banking services to customers operating in industries subject to heightened governmental, public or media scrutiny, including allegations or claims relating to account access, custo…
●Approximately $90 million of funded loans year-to-date with a pipeline of $158 million as of June 30, 2026.
●Continued success of our proprietary banking app for commercial depositors with over $450 million of our deposit base utilizing the service, including new deposit relationships as a result of the offering.
Text removed vs the prior filing · source: 10-Q · 2026-05-08
●uncertainties surrounding geopolitical events, trade policy, taxation policy and federal monetary policy, which continue to impact the outlook for future economic growth (including an economic downturn or recession), including the U.S. imposition of tariffs on other countries and consideration of r…
●risks related to DEI and ESG strategies and initiatives, the scope and pace of which could alter our reputation and shareholder, associate, customer and third-party affiliations or result in litigation in connection with anti-DEI and anti-ESG laws, rules or activism;
●our ability to realize the value of derivative assets that are recorded at fair value due to changes in fair value driven by actual results being materially different than our assumptions;
●$66 million of closed loans in the first quarter of 2026 with a pipeline of $123 million as of March 31, 2026.
●Outstanding loan balances grew 10% to $600 million during the three months ended March 31, 2026 from $544 million as of December 31, 2025. The balance as of March 31, 2026 included $38 million classified as HFS that subsequently sold in April 2026.
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