SBMW — what changed in the latest 10-Q
A section-by-section comparison of SBMW'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 · 2026-08-14 vs the prior 10-Q · 2026-05-14
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +27 | −4 | ~22 | 53 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~12 | 16 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | 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.
Not shown (absent or not faithfully extractable): Risk factors, Other information
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 · 2026-08-14
The average balance of interest-bearing deposits and other assets, comprised primarily of certificates of deposit in other financial institutions, overnight deposits and stock in the Federal Home Loan Bank of Chicago, decreased $10.8 million, or 37.8%, for the three months ended June 30, 2026, while…
Interest Expense. Total interest expense increased $340,000, or 62.2%, to $887,000 for the three months ended June 30, 2026 compared to $547,000 for the three months ended June 30, 2025. The increase was primarily comprised of a $328,000 increase in interest expense on borrowings, and a $12,000, or …
The increase in interest expense on borrowings was due primarily to the $36.3 million increase in the average borrowings outstanding, and a 361 basis point increase in the average cost of borrowings, to 3.61% for the three months ended June 30, 2026 as the Company had no borrowings outstanding durin…
Net Interest Income. Net interest income increased $418,000, or 21.8%, to $2.3 million for the three months ended June 30, 2026 compared to $1.9 million for the three months ended June 30, 2025. The interest rate spread increased to 3.39% for the three months ended June 30, 2026 from 3.37% for the t…
Service fees on deposit accounts decreased with the implementation of a new fee structure for CRB accounts in 2026.The decrease in gain on sale of loans was due to a decrease in sales volume year-to-year.
Text removed vs the prior filing · source: 10-Q · 2026-05-14
Interest Expense. Total interest expense increased $295,000, or 51.6%, to $867,000 for the three months ended March 31, 2026 compared to $572,000 for the three months ended March 31, 2025. The increase was primarily comprised of a $311,000 increase in interest expense on borrowings, which was partia…
The increase in interest expense on borrowings was due primarily to the $35.0 million increase in the average borrowings outstanding, and a 355 basis point increase in the average cost of borrowings, to 3.55% for the three months ended March 31, 2026. The interest expense on borrowings in 2026 was r…
Net Interest Income. Net interest income increased $239,000, or 12.2%, to $2.2 million for the three months ended March 31, 2026 compared to $2.0 million for the three months ended March 31, 2025. The interest rate spread increased to 3.06% for the three months ended March 31, 2026 from 3.00% for th…
The decrease in gain on sale of loans was due to a decrease in sales volume year-to-year. Other noninterest income increased due primarily to an increase in late charges and fees on loans and an increase in fees on cashless ATMs at certain CRB locations.
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