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Wiki Wiki Summary
Passeig de Lluís Companys, Barcelona Passeig de Lluís Companys (Catalan pronunciation: [pəˈsɛdʒ də ʎuˈis kumˈpaɲs]) is a promenade in the Ciutat Vella and Eixample districts of Barcelona, Catalonia, Spain, and can be seen as an extension of Passeig de Sant Joan. It was named after President Lluís Companys, who was executed in 1940.
Estadi Olímpic Lluís Companys Estadi Olímpic Lluís Companys (Catalan pronunciation: [əsˈtaði uˈlimpiɡ ʎuˈis kumˈpaɲs], formerly known as the Estadi Olímpic de Montjuïc and Estadio de Montjuic) is a stadium in Barcelona, Catalonia, Spain. Originally built in 1927 for the 1929 International Exposition in the city (and Barcelona's bid for the 1936 Summer Olympics, which were awarded to Berlin), it was renovated in 1989 to be the main stadium for the 1992 Summer Olympics and 1992 Summer Paralympics.
Company A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals.
Conxita Julià Conxita Julià i Farrés (Catalan pronunciation: [kuɲˈʃitə ʒuliˈa j fəˈres]; 11 June 1920 – 9 January 2019), also known as Conxita de Carrasco, was a Catalan woman noted for her dealings with Lluís Companys, President of Catalonia, in the 1930s, and for her poetry. Julià died in January 2019 at the age of 98.
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Víctor Gay Zaragoza Víctor Gay Zaragoza (born 19 June 1982 in Barcelona, Spain) is a writer, storyteller, trainer and consultant on storytelling. He is author of the essays "Filosofía Rebelde" (Rebel Philosophy), "50 libros que cambiarán tu vida" (50 books that will change your life) and the historical novel "El defensor" (The defender).
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Commerce Bank & Trust Company Commerce Bank & Trust Company is a financial institution based in Worcester, Massachusetts with 16 branches located throughout central and eastern Massachusetts. Commerce Bank & Trust was founded in 1955 and is now a full-service commercial bank with branch offices in Worcester, Holden, Leominster, Marlborough, Milford, Shrewsbury, Webster, West Boylston, Westborough, and, through its recent acquisition of Mercantile Bank & Trust Company, Boston.
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Additional Mathematics Additional Mathematics is a qualification in mathematics, commonly taken by students in high-school (or GCSE exam takers in the United Kingdom). It is applied to a range of problems set out in a different format and wider content to the standard Mathematics at the same level.
Additionality Additionality is the property of an activity being additional by adding something new to the context. It is a determination of whether an intervention has an effect when compared to a baseline.
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Risk Factors
BERKSHIRE HILLS BANCORP INC ITEM 1A RISK FACTORS ______________________________________________________________________ An investment in the Company’s common stock involves certain risks
To understand these risks and to evaluate an investment in the Company’s common stock, you should read this entire report, including the following risk factors
Berkshire Bank’s emphasis on commercial and consumer lending may expose it to increased lending risks
Both commercial loans and consumer loans are more sensitive to economic downturns and the possible impact of higher interest rates
Such sensitivity includes potentially higher default rates and possible diminution of collateral values
Additionally, commercial loans typically involve larger loan balances and larger relationship exposures
Commercial lending also involves more development financing, which is dependent on the future success of new operations
In expanding into new commercial lending markets, the Bank will have less knowledge and experience with local conditions, compared to its traditional markets, which could affect the success of its underwriting and loan collections
In conducting its lending activities, the Bank generally avoids lending practices identified as high risk by bank regulators, as well as lending concentrations that would be viewed as high risk under regulatory guidelines
The Company’s geographic expansion and growth, if not successful, could negatively impact earnings
The Company plans to achieve significant growth both organically and through acquisitions
It has recently expanded into new geographic markets and anticipates that it will expand into additional new geographic markets as it transforms itself into a regional bank
The success of this expansion will depend on the acceptance by customers of the Company and its services in these new markets
Additionally, the profitability of Berkshire Bank’s expansion strategy will depend on whether the income it generates in the new markets will offset the increased expenses of operating a larger entity with increased personnel, more branch locations and additional product offerings
Berkshire Bank expects that it may take a period of time before certain of its new branches can become profitable, especially in areas in which Berkshire Bank does not have an established physical presence
During this period, operating these new branches may negatively impact net income
Additionally, in connection with the Company’s expansion, the Company will need to increase its operational and financial procedures, systems and controls
If the Company has difficulty in doing so, it could harm the Company’s business, results of operations and financial condition
The Company acquired Woronoco Bancorp, Inc
in 2005, and has purchased insurance and financial planning businesses in the last two years
The Company will pursue additional opportunities for acquisitions in the future, including acquisitions in adjacent states
The success of acquisitions depends on many factors, including the long term retention of acquired customer relationships
The Company recorded goodwill and other intangible assets in conjunction with the Woronoco acquisition, and such assets may be recorded in future acquisitions
If these investments were to become impaired, the Company would be required to write them down
[40]Back to Index -17- _________________________________________________________________ The Company is subject to risks which are common to its industry
Large changes in market interest rates can compress its margins and make its asset and liability management less reliable
A downturn in the local economy or a decline in real estate values could hurt the Company’s profits
Most of the Bank’s loans are secured by real estate
In recent years, there has been a significant increase in real estate values in the Bank’s market areas
A decline in real estate values could expose the Company to a greater risk of loss
Additionally, strong competition within the Bank’s market area could hurt the Company’s profit and growth
Berkshire Bank faces intense competition both in making loans and attracting deposits
Some competitors have substantially greater resources and lending limits than it has and may offer services that Berkshire Bank does not provide
Competition will likely increase in the future as a result of legislative, regulatory and technological changes and the continuing trend of consolidation in the financial services industry
The Company’s profitability depends on the Bank’s continued ability to compete successfully in its market area
Berkshire Bank and the Company operate in a highly regulated environment and may be adversely affected by changes in laws and regulations
The Company is subject to extensive regulation, supervision and examination by the Office of Thrift Supervision, its chartering authority, and Berkshire Bank is subject to extensive supervision and examination by the Massachusetts Division of Banks, its chartering authority, and the Federal Deposit Insurance Corporation, as insurer of Berkshire Bank’s deposits
Such regulations and supervision govern the activities in which an institution and its holding company may engage, and are intended primarily for the protection of the insurance fund and depositors
Regulatory authorities have extensive discretion in their supervisory and enforcement activities, including the imposition of restrictions on operations, the classification of assets and determination of the level of allowance for loan losses
Any change in such regulation and oversight, whether in the form of regulatory policy, regulations, legislation or supervisory claim may have a material impact on Berkshire Bank’s operations
The Company primarily depends on the Bank for dividends as a source of funds to service its indebtedness and to pay dividends to shareholders
Such dividends may be restricted or prohibited by regulatory authorities