GBNY — what changed in the latest 10-Q
A section-by-section comparison of GBNY'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 · 2024-08-09 vs the prior 10-Q · 2024-05-13
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +32 | −16 | ~18 | 33 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
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 · 2024-08-09
●compliance with the Agreement with the Office of the Comptroller of the Currency:
As previously reported on a Current Report on Form 8-K filed on July 22, 2024 with the SEC, Generations Bank (the “Bank”), the wholly owned subsidiary of Generations Bancorp NY, Inc., entered into a written agreement (the “Agreement”) with the Office of the Comptroller of the Currency (the “OCC”), t…
●Establish a Compliance Committee to monitor and oversee the Bank’s compliance with the provisions of the Agreement, and to submit written progress reports to the Board that must be transmitted to the OCC;
●Prepare a written board oversight and corporate governance program to provide for the overall direction, oversight, and corporate governance of the Bank;
●Prepare a written strategic plan for the Bank covering at least a three-year period, and to submit evaluations of the Bank’s performance against the Strategic Plan to the Board and to the OCC;
Text removed vs the prior filing · source: 10-Q · 2024-05-13
Net Loans. Net loans decreased $4.2 million, or 1.3%, to $329.3 million at March 31, 2024 from $333.5 million at December 31, 2023 as a result of loan payoffs and amortization exceeding loan originations. The decrease resulted from decreases in commercial business loans of $1.9 million, or 10.0%, au…
Net deferred fees decreased $558,000, or 3.6%, during the three months ended March 31, 2024, representing primarily fees paid for purchased loans net of amortization, which is over the estimated loan lives.
Consistent with our business strategy, we intend to continue the purchase of residential mortgage and automobile loans. During the three months ended March 31, 2024, we purchased $4.5 million of residential mortgage loans and $1.3 million of automobile loans.
Investment Securities Available-for-Sale. Investment securities available-for-sale decreased $3.4 million, or 10.9%, to $27.9 million at March 31, 2024 from $31.3 million at December 31, 2023. The decrease in investment securities available-for-sale was primarily attributable to calls and principal …
Interest-Earning Time Deposits in Banks. Interest-earning time deposits in banks increased $2.5 million, or 56.2%, to $6.8 million at March 31, 2024 from $4.4 million at December 31, 2023. Excess cash was invested in short-term certificates of deposit at other financial institutions in order to maxi…
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