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NORTHPOINTE BANCSHARES INC

NORTHPOINTE BANCSHARES INC is an American state commercial bank that raised $90 million in 2026 (SEC Form D).2 It is headquartered in Grand Rapids, United States.2 Its shares trade on NYSE under the symbol NPB.2

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Last updated Oct 21, 2026.

Overview

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  • TickerNPB on NYSE2
  • IndustryState Commercial Banks2
  • HeadquartersGrand Rapids, United States2
  • Incorporated inMI3
  • Business address3333 Deposit Drive Ne, Grand Rapids, Mi 495463
  • Filer category, Emerging growth company3
  • Legal formCorporation2
  • LEI549300EYMKMD4WKEKP722
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O CHARLES A WILLIAMS, 49546 Grand Rapids, United States2
  • Registered withCorporations Division (Department of Licensing and Regulatory Affairs), 8005405732

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Northpointe Bancshares, Inc. (“the Company”) is a bank holding company headquartered in Grand Rapids, Michigan and registered under the Bank Holding Company Act of 1956. The Company completed an initial public offering of common stock in February 2025 as an emerging growth company under the Jumpstart Our Business Startups Act of 2012 (“the JOBS Act”). Our common stock is listed on the New York Stock Exchange under the symbol “NPB”.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income67$83.4M in 2025+147% since 2023
0$25.0M$50.0M$75.0M$100.0M2023: $33.8M$33.8M20232024: $55.2M$55.2M2024+63%2025: $83.4M$83.4M2025+51%

Every line of the income statement as filed: the last 2 fiscal years, latest first.7

Period ending2025-12-312024-12-31
Loans - including fees$351.2M$285.5M
Investment securities - taxable$463.0K$637.0K
FHLB stock - taxable$6.5M$6.4M
Interest bearing deposits$22.0M$25.0M
Total interest income$380.2M$317.5M
Deposits$176.7M$151.1M
Subordinated debentures$3.1M$3.9M
Borrowings$49.6M$48.3M
Total interest expense$229.5M$203.3M
Net interest income$150.7M$114.2M
Provision (benefit) for credit loss and unfunded commitments$2.1M-$328.0K
Net interest income after provision (benefit) for credit losses and unfunded commitments$148.6M$114.5M
Service charges on deposits and other fees$890.0K$1.8M
Loan servicing fees$4.7M$8.9M
"Mortgage Purchase Program (""MPP"") fees"$6.0M$5.4M
Net gain on sale of loans$77.2M$56.7M
Other noninterest income$2.2M$128.0K
Total noninterest income$91.0M$72.9M
Salaries and employee benefits$90.2M$77.8M
Occupancy and equipment$3.4M$4.5M
Data processing expense$8.7M$9.0M
Professional fees$6.2M$4.1M
Other taxes and insurance$7.6M$7.0M
Other noninterest expense$13.1M$12.2M
Total noninterest expense$129.2M$114.6M
Income - before income taxes$110.4M$72.9M
Income tax expense$27.0M$17.7M
Net income$83.4M$55.2M
Preferred stock dividends and related costs$11.8M$8.0M
Net income available to common stockholders$71.6M$47.2M
Basic earnings per common share (in USD per share)$2.14$1.83
Diluted earnings per share (in USD per share)$2.11$1.83

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Corporate structure

NORTHPOINTE BANCSHARES INC sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of NORTHPOINTE BANCSHARES INC

  • NORTHPOINTE BANCSHARES INC Grand Rapids, Michigan, United States
    • Northpointe Bank Subsidiary · Michigan, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What NORTHPOINTE BANCSHARES INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$40.4M7 Dec 31, 2025$41.6M7 Dec 31, 2024−2.9%
Accumulated depreciation$12.8M7 Dec 31, 2025$14.3M7 Dec 31, 2024−10.4%
Property and equipment, net$27.6M7 Dec 31, 2025$27.3M7 Dec 31, 2024+1.0%
Operating-lease assets (leased space)$1.0M7 Dec 31, 2025$1.5M7 Dec 31, 2024−33.3%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$496.5M7 Dec 31, 2025$376.3M7 Dec 31, 2024+31.9%
Loans, net of allowance$6.0B7 Dec 31, 2025$4.4B7 Dec 31, 2024+36.1%
Deposits held (banks)$4.9B7 Dec 31, 2025$3.4B7 Dec 31, 2024+42.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, net$1.5M7 Dec 31, 2025$2.1M7 Dec 31, 2024−27.9%

Properties, in its own words

Our principal executive office is located at 3333 Deposit Drive Northeast, Grand Rapids, Michigan 49546 and our telephone number at that address is (616) 940-9400. In addition to our principal executive office, we operate loan production offices across 25 cities in 15 states that are supported through our centralized operating center in Grand Rapids, Michigan. We believe that our properties are in good condition and are suitable and adequate to our needs.

Item 2 of the 10-K filed Mar 27, 2026.5

Leadership

Who has led NORTHPOINTE BANCSHARES INC, and when. Pick a name to see everywhere that person has worked.

President

  1. Kevin J. Comps2025–now

Chief financial officer

  1. Brad T. Howes2025–now

Chief operating officer

  1. Joseph B. Long2026–now
Board members and other officers (9)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, DirectorCharles A. Williams named Mar 23, 202622
  • Executive OfficerGary T. Dykstra named Dec 23, 2025 to Mar 23, 202622
  • Executive Officer, DirectorCharles A. William named Dec 23, 202523
  • DirectorBruce L. Edgar named Dec 23, 2025 to Mar 23, 202622
  • DirectorDavid F. Lawrence named Dec 23, 2025 to Mar 23, 202622
  • DirectorDavid S. Hooker named Dec 23, 2025 to Mar 23, 202622
  • DirectorJohn R. Tuttle named Dec 23, 2025 to Mar 23, 202622
  • DirectorR. Jeffrey Dean named Dec 23, 2025 to Mar 23, 202622
  • DirectorRobert W. De Vlieger named Dec 23, 2025 to Mar 23, 202622

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Northpointe Bank Michigan4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Oct 6, 20268-K Other events24
  2. Aug 28, 20268-K Executive or director change25
  3. Jul 21, 20268-K Completed an acquisition or sale; Regulation FD disclosure26
  4. May 13, 20268-K Shareholder vote27
  5. Apr 21, 20268-K Results of operations; Regulation FD disclosure28
  6. Mar 13, 20268-K Entered a material agreement; New debt or obligation29
  7. Mar 3, 20268-K Executive or director change30
  8. Feb 27, 20268-K Executive or director change31
  9. Jan 20, 20268-K Results of operations; Regulation FD disclosure32
  10. Dec 31, 20258-K Other events33
  11. Dec 18, 20258-K Executive or director change34
  12. Dec 9, 20258-K Entered a material agreement; New debt or obligation; Regulation FD disclosure35
  13. May 26, 1998Founded NORTHPOINTE BANCSHARES INC is founded2

Calendar

When it reported results

  1. Apr 21, 2026Reported quarterly or annual results28
  2. Jan 20, 2026Reported quarterly or annual results32
  3. Oct 21, 2025Reported quarterly or annual results36
  4. Jul 22, 2025Reported quarterly or annual results37
  5. Apr 22, 2025Reported quarterly or annual results38

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

167 filings to the SEC since October 2021: 2 annual reports, 5 quarterly reports, 22 major events, 74 insider forms, 17 large holders, 2 private raises, 45 other. The latest 20:

  1. Oct 6, 20268-K EDGAR
  2. Sep 22, 20263 PRIMARY DOCUMENT EDGAR
  3. Sep 2, 20264 EDGAR
  4. Aug 28, 20268-K EDGAR
  5. Aug 26, 20264 EDGAR
  6. Aug 17, 20264 EDGAR
  7. Aug 14, 20264 EDGAR
  8. Aug 14, 2026144 EDGAR
  9. Aug 14, 2026144 EDGAR
  10. Aug 13, 2026144 EDGAR
  11. Aug 13, 2026144 EDGAR
  12. Aug 13, 202610-Q EDGAR
  13. Aug 13, 2026SCHEDULE 13G/A EDGAR
  14. Aug 13, 2026SCHEDULE 13G/A EDGAR
  15. Aug 13, 2026SCHEDULE 13G/A EDGAR
  16. Aug 5, 20264 EDGAR
  17. Aug 4, 2026144 EDGAR
  18. Aug 4, 2026144 EDGAR
  19. Aug 3, 2026144 EDGAR
  20. Aug 3, 2026144 EDGAR

The 167 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

27 open-market trades by officers, directors and large owners since October 2021: 10 buys and 17 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 1, 2026Charles A Williams TR Charles A Williams Trust10% ownerBuy85,000$16.74$1.4MForm 4
Aug 26, 2026Charles A Williams TR Charles A Williams Trust10% ownerBuy48,312$16.95$818.9KForm 4
Aug 25, 2026Charles A Williams TR Charles A Williams Trust10% ownerBuy30,000$16.95$508.5KForm 4
Aug 14, 2026Hooker David StevensDirectorSale772$17.50$13.5KForm 4
Aug 13, 2026Hooker David StevensDirectorSale363$17.53$6.4KForm 4
Aug 4, 2026Hooker David StevensDirectorSale3,156$17.57$55.5KForm 4
Aug 3, 2026Hooker David StevensDirectorSale3,209$17.59$56.4KForm 4
Jul 1, 2026Hooker David StevensDirectorSale7,500$19.30$144.8KForm 4
Jun 9, 2026Hooker David StevensDirectorSale2,351$17.70$41.6KForm 4
Jun 8, 2026Hooker David StevensDirectorSale739$17.52$12.9KForm 4
Jun 5, 2026Hooker David StevensDirectorSale285$17.52$5.0KForm 4
Jun 2, 2026Hooker David StevensDirectorSale4,125$17.50$72.2KForm 4
May 13, 2026Charles A Williams TR Charles A Williams Trust10% ownerBuy25,000$17.08$427.0KForm 4
May 12, 2026Williams Charles AlanCHAIRMAN & CEOBuy25,000$17.21$430.2KForm 4
May 1, 2026Hooker David StevensDirectorSale7,500$17.82$133.7KForm 4
Mar 9, 2026Dean Richard JefferyDirectorSale57,619$17.55$1.0MForm 4
Mar 3, 2026Lawrence David F.DirectorBuy500$18.19$9.1KForm 4
Feb 12, 2026Williams Charles AlanCHAIRMAN & CEOBuy23,450$16.88$395.8KForm 4
Feb 11, 2026Williams Charles AlanCHAIRMAN & CEOBuy14,205$16.90$240.1KForm 4
Jan 29, 2026Butler Amy MEVP, NATIONAL SALESSale6,365$17.50$111.4KForm 4

All 27 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Charles A. Williams63$437.8K$7.9M47
2025David J. Christel60$175.0K$3.2M47
2025Kevin J. Comps45$365.8K$1.2M47
2024FounderChief Executive Officer and Chairman$437.7K$9.0M47
2024President of Warehouse Lending$175.0K$5.9M47
2024President$321.2K$4.4M47

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$90.0M 2025–2026
Money received by yearMoney received by year, 2025–2026: $90.0M in all. Private raises (Form D) $90.0M.$0$20M$40M$60M$80M2025 · Private raises (Form D): $70.0M20252026 · Private raises (Form D): $20.0M2026
Figures by year
YearPrivate raises (Form D)Total
2026$20.0M$20.0M
2025$70.0M$70.0M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Mar 12, 2026Raised $20 million in a private offering of debt22 Form D: 1 investor so far Form D
  2. Dec 9, 2025Raised $70 million in a private offering of debt23 Form D: 22 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Wellington Management Group Llp3,651,674$70.0M0.0%−856,258
Adage Capital Partners Gp, L.l.c.2,840,757$54.5M0.1%+239,254
BlackRock, Inc.1,597,569$30.6M0.0%+206,069
Boston Partners1,246,256$23.9M0.0%+31,069
Morgan Stanley917,918$17.6M0.0%−91,488
Vanguard Capital Management LLC903,509$17.3M0.0%−22,527
Hotchkis & Wiley Capital Management LLC756,190$14.5M0.0%+18,820
American Century Companies Inc684,133$13.1M0.0%+202,435
Maltese Capital Management LLC497,600$9.5M1.7%−74,575
Algebris (uk) Ltd471,907$9.0M0.6%−6,597
Two Sigma Investments, LP464,361$8.9M0.0%−136,294
Geode Capital Management, LLC401,771$7.7M0.0%+40,995
Goldman Sachs Group Inc375,948$7.2M0.0%−23,156
Russell Investments Group, Ltd.370,626$7.1M0.0%−24,476
State Street Corp364,069$7.0M0.0%+29,140
Jacobs Asset Management, LLC350,000$6.7M5.1%−75,000
State Of Wisconsin Investment Board270,432$5.2M0.0%−29,037
Jpmorgan Chase & Co254,451$4.9M0.0%−56,051
Bank Of America Corp /de/220,806$4.2M0.0%+5,262
Brevan Howard Capital Management LP202,549$3.9M0.1%−47,785
Mendon Capital Advisors Corp200,000$3.8M1.4%−108,624
Curi Capital, LLC200,000$3.8M0.1%−45,097
Algert Global LLC184,037$3.5M0.0%New
EJF Capital LP177,121$3.4M2.3%−67,986
Sanctuary Advisors, LLC176,879$3.4M0.0%−144

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How NORTHPOINTE BANCSHARES INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARNORTHPOINTE BANCSHARES INC1
  • CIK0001336706
  • Employer ID (EIN)38-34133925
  • Filer statusNon-accelerated filer an emerging growth company; not a smaller reporting company; not a shell company5
  • Incorporated inMichigan5
  • Industry code (SIC)6022 State Commercial Banks1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address3333 Deposit Drive Ne, Grand Rapids, MI 495461
  • Phone616-974-84911
  • Shares outstanding34,581,842 as of Aug 13, 20269
  • Public float$381.6M as of Jun 30, 20255
  • AuditorRSM US LLP, Philadelphia, Pennsylvania PCAOB ID 49; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceAug 15, 20051
  • Filings170 in all: 4 (50), 8-K (22), 144 (21), 3 (17), SCHEDULE 13G (9), SCHEDULE 13G/A (8), 4/A (7), 10-Q (5)1
    All 27 form types

    CORRESP (5), D (3), UPLOAD (3), 10-K (2), ARS (2), DEF 14A (2), S-1/A (2), 11-K (1), 424B4 (1), 8-A12B (1), CERT (1), D/A (1), DEFA14A (1), DRS (1), EFFECT (1), FWP (1), REGDEX (1), S-1 (1), S-8 (1)

  • Latest filingsAnnual report (10-K) Mar 27, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Mar 31, 2026
    Latest 8-K (8-K) Oct 6, 2026

Securities registered for trading

ClassSymbolExchange
Common stock, no par valueNPBNew York Stock Exchange

From the cover page of the 10-K filed Mar 27, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks NORTHPOINTE BANCSHARES INC names in Item 1A of its 10-K filed Mar 27, 2026: 57 risks under these headings, as written.5

  • Risks Related to Our Business
  • Decreased residential mortgage origination, competition, and changes in interest rates may adversely affect our profitability.
  • Our mortgage banking profitability could significantly decline if we are not able to originate and resell a high volume of mortgage loans.
  • A decline in our MPP business could have a significant impact on our results of operations.
  • Because a significant portion of our loan portfolio is comprised of real estate loans, negative changes in the economy affecting real estate values and liquidity could impair the value of collateral securing our real estate loans and result in loan and other losses.
  • A decline in general business and economic conditions and any regulatory responses to such conditions could have a material adverse effect on our business, financial position, results of operations and growth prospects.
  • Liquidity risks could affect operations and jeopardize our business, financial condition, and results of operations, and deposits, many of which are brokered deposits, are our primary source of funding.
  • We rely on participations from third parties as an important funding source.
  • Fluctuations in interest rates may reduce net interest income and otherwise negatively impact our financial condition and results of operations.
  • If we do not effectively manage our credit risk, we may experience increased levels of delinquencies, nonperforming loans and charge-offs, which could require increases in our allowance for credit losses.
  • Nonperforming assets take significant time to resolve and adversely affect our financial condition and results of operations, and could result in further losses in the future.
  • We may be required to repurchase or substitute mortgage loans or mortgage servicing rights (“MSRs”) that we have sold, or indemnify purchasers of our mortgage loans or MSRs.
The other 46 risks
  • We engage in lending secured by real estate and may be forced to foreclose on the collateral and own the underlying real estate, subjecting us to the costs and potential risks associated with the ownership of real property, or consumer protection initiatives or changes in state or federal law may substantially raise the cost of foreclosure or prevent us from foreclosing at all.
  • If we lose our ability to be a rated servicer, our business would be adversely affected.
  • Our allowance for credit losses may prove to be insufficient to absorb actual losses in our loan portfolio.
  • We depend on the accuracy and completeness of information provided by customers and counterparties.
  • Our ability to maintain our reputation is critical to the success of our business, and the failure to do so may materially adversely affect our business and the value of our stock.
  • Technology disruptions or failures, including a failure in our operational or security systems or infrastructure, or those of third parties with whom we do business, could disrupt our business, cause legal or reputational harm and adversely impact our financial condition and results of operations.
  • Cyberattacks and other data and security incidents could result in serious harm to our reputation and adversely affect our business.
  • We may not be able to make technological improvements as quickly as demanded by our customers, which could harm our ability to attract customers and adversely affect our financial condition, results of operations, and liquidity.
  • Our products use software, hardware and services that may be difficult to replace or cause errors or failures of our products that could adversely affect our business.
  • The developments and use of artificial intelligence (AI) presents risks and challenges that may adversely impact our business.
  • We are, and intend to continue, developing new products and services, and our failure to accurately predict their demand or growth could have an adverse effect on our business.
  • We depend on our ability to sell loans in the secondary market to a limited number of investors and to the GSEs, and to securitize our loans into MBS through the GSEs. If our ability to sell or securitize mortgage loans is impaired, whether as a result of regulatory action or otherwise, the volume of mortgage loans that we are able to originate will be reduced.
  • Our hedging strategies may not be successful in mitigating our risks associated with changes in interest rates.
  • The accuracy of our financial statements and related disclosures could be affected if the judgments, assumptions or estimates used in our critical accounting policies are inaccurate.
  • A portion of our assets are measured at fair value. Fair value determinations require many assumptions and complex analyses, and we cannot control many of the underlying factors. If our estimates prove to be incorrect, we may be required to write down the value of such assets, which could adversely affect our earnings, financial condition and liquidity.
  • We are dependent on the use of data and modeling in our management’s decision-making, and faulty data or modeling approaches could negatively impact our decision-making ability or possibly subject us to regulatory scrutiny in the future.
  • Our success is largely dependent upon our ability to successfully execute our business strategy.
  • We are highly dependent on our management team, and the loss of our senior executive officers or other key employees could harm our ability to implement our strategic plan, impair our relationships with customers and adversely affect our business, results of operations and growth prospects.
  • Our operations could be interrupted if our third-party service providers experience difficulty, terminate their services or fail to comply with banking regulations.
  • We are subject to certain operational risks, including, but not limited to, customer or employee fraud and data processing system failures and errors.
  • We may not be able to overcome the integration and other risks associated with any future acquisitions, which could have an adverse effect on our ability to implement our business strategy.
  • We may need to raise additional capital in the future, and if we fail to maintain sufficient capital, whether due to losses, an inability to raise additional capital or otherwise, our liquidity, financial condition, and results of operations, as well as our ability to maintain regulatory compliance, would be adversely affected.
  • Changes in accounting standards could materially impact our financial statements.
  • Litigation and regulatory actions, including possible enforcement actions, could subject us to significant fines, penalties, judgments or other requirements resulting in increased expenses or restrictions on our business activities.
  • Severe weather, natural disasters, pandemics, acts of war or terrorism or other external events could significantly impact our business.
  • If we fail to design, implement and maintain effective internal control over financial reporting or remediate any future material weakness in our internal control over financial reporting, we may be unable to accurately report our financial results or prevent fraud.
  • If we are unable to successfully remediate future material weaknesses in our internal control over financial reporting, the accuracy and timing of our financial reporting may be adversely affected.
  • Our business is susceptible to fraud.
  • Risks Related to Our Industry and Regulation
  • Our industry is highly regulated, and the regulatory framework, together with any future legislative or regulatory changes, may have a materially adverse effect on our operations.
  • Monetary policies and regulations of the Federal Reserve could have an adverse effect on our business, financial condition and results of operations.
  • Federal and state regulators periodically examine our business and may require us to remediate adverse examination findings or may take enforcement action against us.
  • We are subject to stringent capital requirements, which could have an adverse effect on our operations.
  • We are subject to numerous laws designed to protect consumers, including the CRA and fair lending laws, and failure to comply with these laws could lead to a wide variety of sanctions.
  • We are subject to laws regarding the privacy, information security and protection of personal information and any violation of these laws or another incident involving personal, confidential, or proprietary information of individuals could damage our reputation and otherwise adversely affect our business.
  • We are a bank holding company and are dependent upon our Bank for cash flow, and our Bank’s ability to make cash distributions is restricted.
  • The Federal Reserve may require us to commit capital resources to support our Bank.
  • We face the risk of noncompliance and enforcement action with the Bank Secrecy Act and other anti-money laundering statutes and regulations.
  • Our Bank’s FDIC deposit insurance premiums and assessments may increase.
  • Risks Related an Investment in Our Common Stock
  • There is a limited trading market in the Company's common stock, which will hinder your ability to sell our common stock and may lower the market price of the stock.
  • Our stock price may be volatile, and you could lose part or all of your investment as a result.
  • If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our stock price and trading volume could decline.
  • We may not pay dividends on our common stock in the future, and our ability to pay dividends is subject to certain restrictions.
  • The holders of our debt obligations and preferred stock will have priority over our common stock with respect to payment in the event of liquidation, dissolution or winding up and with respect to the payment of interest and dividends.
  • Michigan law and the provisions of our Amended and Restated Articles of Incorporation and Amended and Restated Bylaws may have an anti-takeover effect, and there are substantial regulatory limitations on changes of control of bank holding companies.
  • The requirements of being a public company may strain our resources and divert management’s attention.
  • The Company is an “emerging growth company” under the JOBS Act, and the Company cannot be certain whether the reduced disclosure requirements applicable to emerging growth companies will make the Company’s common stock less attractive to investors.

Legal proceedings

Market risk represents the risk of loss due to changes in market values of assets and liabilities. We incur market risk in the normal course of business through exposures to market interest rates, equity prices, and credit spreads. We have identified interest rate risk as our primary source of market risk. Our primary business activities include gathering retail deposits, non-brokered rateboard time deposits, brokered CDs, and funding from the FHLB and other smaller facilities, which are used to invest in cash and loans. These activities involve interest rate risk, which arises from factors such as timing and volume differences in the repricing of our rate-sensitive assets and liabilities, changes in credit spreads, fluctuations in the general level of market interest rates, and shifts in the shape and level of market yield curves. Changes in interest rates can affect our current and prospective earnings, through volatility in our net interest income and the level of other interest rate-sensitive revenues and operating expenses. Interest rate fluctuations can also influence the underlying economic value of our assets, liabilities and off-balance sheet items. This is driven by the fact that the present values of future cash flows, and potentially the cash flows themselves, may change when interest rates materially move up or down depending on the economic environment.

The opening of Item 3, Legal Proceedings.5

Sources

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