SFBS — what changed in the latest 10-Q
A section-by-section comparison of SFBS'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 · 2026-05-06 vs the prior 10-Q · 2025-11-04
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +46 | −56 | ~24 | 20 |
| Market risk (Item 3) | Text added/removed | +1 | −1 | ~2 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
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): 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 · 2026-05-06
Diluted earnings per common share of $1.52 for the first quarter, up 31.0% from the first quarter of 2025.
Deposits grew by $267 million, or 8% annualized, during the quarter.
Loans grew by $249 million, or 7% annualized, during the quarter.
Book value per share of $34.99, up 14.5% from the first quarter of 2025 and 13.4% annualized, from the fourth quarter of 2025.
Liquidity remains very strong with $1.84 billion in cash and cash equivalents, equaling 10% of our total assets, and no Federal Home Loan Bank advances or brokered deposits.
Text removed vs the prior filing · source: 10-Q · 2025-11-04
Diluted earnings per common share of $1.20 for the third quarter of 2025, an increase of 9.1%, from the third quarter of 2024.
Average loans of $13.21 billion for the third quarter of 2025, an increase of $839.1 million, or 6.8%, from the third quarter of 2024.
Average deposits of $14.13 billion for the third quarter of 2025, an increase of $617.8 million, or 4.6%, from the third quarter of 2024.
Net interest income of $133.4 million for the third quarter of 2025, increased $18.3 million, or 15.9%, from the third quarter of 2024.
Net interest margin of 3.09% for third quarter of 2025, increased 25 basis points from 2.84% in the third quarter of 2024.
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-05-06
The ALCO employs modeling techniques such as net interest income simulations and economic value of equity simulations to determine what amount of the Bank’s net interest income is at risk given different movements in market interest rates. Simulations assume gradual and instantaneous (shocks) moveme…
Text removed vs the prior filing · source: 10-Q · 2025-11-04
The asset-liability committee thoroughly analyzes the maturities of rate-sensitive assets and liabilities. This analysis measures the “gap,” which is defined as the difference between the dollar amount of rate-sensitive assets repricing during a period and the volume of rate-sensitive liabilities re…
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