UBOH — what changed in the latest 10-K
A section-by-section comparison of UBOH'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-K · 2023-03-13 vs the prior 10-K · 2022-03-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| Business | Text added/removed | +4 | −3 | ~18 | 85 |
| Risk factors | Text added/removed | +3 | −7 | ~5 | 57 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| MD&A | Text added/removed | 0 | 0 | ~1 | 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): Market risk (Item 7A)
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
Business
Text added vs the prior filing · source: 10-K · 2023-03-13
UBC Risk Management, Inc. is located in Las Vegas, Nevada. It is a captive insurance subsidiary which insures various liability and property damage policies for the Corporation and its subsidiaries.
The Bank’s primary market area consists of the Ohio counties of a Allen, Delaware, Franklin, Hancock, Marion, Paulding, Putnam, Sandusky, and Wood, in which the Bank currently operates 18 total full-service banking offices.
Union Bank's securities portfolio is entirely categorized as available-for-sale. Securities classified as available-for-sale may be sold prior to maturity due to changes in interest rates, prepayment risks or to meet the company's liquidity needs. However, selling such securities at a loss may resul…
The allowance for loan losses included no specific reserves for impaired loans at December 31, 2022 and December 31, 2021.
Text removed vs the prior filing · source: 10-K · 2022-03-07
The Bank’s primary market area consists of the Ohio counties of Putnam, Allen, Wood, and Marion, in which the Bank currently operates 14 of its 20 total full service banking offices. According to the most recent FDIC Deposit Market Share Report, as of June 30, 2021 there were a total of 25 banking i…
Union Bank's securities portfolio is entirely categorized as available-for-sale. Securities classified as available-for-sale may be sold prior to maturity due to changes in interest rates, prepayment risks or to meet the company's liquidity needs.
The allowance for loan losses at December 31, 2021 included no specific reserves for impaired loans. There was $255,000 included in specific reserves for impaired loans at December 31, 2020.
Risk factors
Text added vs the prior filing · source: 10-K · 2023-03-13
Inflation can have an adverse impact on the Corporation's earnings and on our customers.
Inflation risk is the risk that the value of assets or income from investments will be worth less in the future as inflation decreases the value of money. Beginning in 2021, and throughout 2022, there have been market indicators of a pronounced rise in inflation and the Federal Reserve Board has rai…
With a recent shift in control of the House of Representatives in January 2023, we expect a more balanced approach to overall speed and severity of new legislation. The Democrats have retained control of the U.S. Senate, albeit with a slight majority of 51-49. Without control of both chambers of Con…
Text removed vs the prior filing · source: 10-K · 2022-03-07
With a new Congress taking office in January 2021, Democrats have retained control of the U.S. House of Representatives, and have gained control of the U.S. Senate, albeit with a majority found only in the tie-breaking vote of Vice President Kamala Harris. However slim the majorities, though, the ne…
Moreover, the turnover of the presidential administration has produced, and likely will continue to produce, certain changes in the leadership and senior staffs of the federal banking agencies, the Consumer Financial Protection Bureau, the Commodity Futures Trading Commission, the Securities and Exc…
COVID-19 May Continue to Significantly Impact the Corporation’s Business
COVID-19 continues to cause significant disruptions in the U.S. economy at large, and for small businesses in particular, which continues to impact the Corporation’s operations. We are starting to see the impact from COVID-19 on our business, and we believe that it will be significant, adverse and p…
In addition, certain of our borrowers are in or have exposure to the retail, restaurants, and hospitality industries and/or are located in areas that have previously mandated reduced capacity requirements or other types of operating restrictions, and COVID-19 may also have an adverse effect on our c…
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