艾斯奎尔金融控股 2025年度报告

DOCUMENTS INCORPORATED BY REFERENCE TABLE OF CONTENTS PAGEPARTI2ITEM1.Business2ITEM1A. Risk Factors26ITEM1B. Unresolved Staff Comments43ITEM 1C.Cybersecurity43ITEM2.Properties44ITEM3.Legal Proceedings45ITEM4.Mine Safety Disclosures45 PARTII46ITEM5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases ofEquity Securities46ITEM6.[Reserved]48ITEM7.Management’s Discussion and Analysis of Financial Condition and Results of Operations49ITEM7A.Quantitative and Qualitative Disclosures About Market Risk71ITEM8.Financial Statements and Supplementary Data72ITEM9.Changes In and Disagreements With Accountants on Accounting and Financial Disclosure112ITEM9A. Controls and Procedures112ITEM9B. Other Information112ITEM9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections112 PARTIII113ITEM10.Directors, Executive Officers and Corporate Governance113ITEM11.Executive Compensation113ITEM12.Security Ownership of Certain Beneficial Owners and Management and Related StockholderMatters113ITEM13.Certain Relationships and Related Transactions, and Director Independence113ITEM14.Principal Accountant Fees and Services113 PARTIV114ITEM15. Exhibits and Financial Statement Schedules114ITEM16.Form10-K Summary115 SIGNATURES116 PARTI ITEM1.Business Forward-Looking Statements This Annual Report contains forward-looking statements within the meaning of the federal securities laws.These forward-looking statements reflect our current views with respect to, among other things, future events andour financial performance. These statements are often, but not always, made through the use of words or phrasessuch as “may,” “might,” “should,” “could,” “predict,” “potential,” “believe,” “expect,” “attribute,” “continue,”“will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “projection,” “goal,” “target,” “outlook,” “aim,”“would,” “annualized” and “outlook,” or the negative version of those words or other comparable words orphrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and arebased on current expectations, estimates and projections about our industry, management’s beliefs and certainassumptions made by management, many of which, by their nature, are inherently uncertain and beyond ourcontrol. Accordingly, we caution you that any such forward-looking statements are not guarantees of futureperformance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict.Although we believe that the expectations reflected in these forward-looking statements are reasonable as of thedate made, actual results may prove to be materially different from the results expressed or implied by theforward-looking statements. The following factors, among others, could cause actual results to differ materially from the anticipatedresults or other expectations expressed in the forward-looking statements: ●our ability to manage our operations under the current economic conditions nationally and in our marketarea;●adverse changes in the financial industry, securities, credit and national local real estate markets(including real estate values);●risks related to a high concentration of loans secured by real estate located in our market area;●risks related to a high concentration of loans and deposits dependent upon the legal and “litigation”market;●the impact of any potential strategic transactions;●unexpected outflows of uninsured deposits could require us to sell investment securities at a loss;●our ability to enter new markets successfully and capitalize on growth opportunities;●significant increases in our credit losses, including as a result of our inability to resolve classified andnonperforming assets or reduce risks associated with our loans, and management’s assumptions indetermining the adequacy of the allowance for credit losses;●interest rate fluctuations, which could have an adverse effect on our profitability;●The imposition of tariffs or other domestic or international governmental policies impacting the valueof the products of our borrowers;●the impact of a potential federal government shutdown;●external economic and/or market factors, such as changes in monetary and fiscal policies and laws,including the interest rate policies of the Board of Governors of the Federal Reserve System (“FRB”),inflation or deflation, changes in the demand for loans, and fluctuations in consumer spending, borrowing and savings habits,which may have an adverse impact on our financial condition; ●continued or increasing competition from other financial institutions, credit unions, and non-bankfinancial services companies, many of which are subject to different regulations than we are;●credit risks of lending activities, including changes in the level and trend of loan delinquencies and write-offs and in our allowance for credit losses and provision for credit losses;●our success in increasing our legal and “litigation” market len