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| Asset Management and Custody Banks |
| Banks |
| Diversified Financial Services |
| Exposures |
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| Provide |
| Regime |
| Express intent |
| Military |
| Political reform |
| Ease |
| Leadership |
| Intelligence |
| Economic |
| Cooperate |
| Event Codes |
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| Accident |
| Demand |
| Yield to order |
| Endorse |
| Solicit support |
| Adjust |
| Reward |
| Warn |
| Sports contest |
| Acknowledge responsibility |
| Sanction |
| Agree |
| Wiki | Wiki Summary |
|---|---|
| Multifamily residential | Multifamily residential (also known as multidwelling unit or MDU) is a classification of housing where multiple separate housing units for residential inhabitants are contained within one building or several buildings within one complex. Units can be next to each other (side-by-side units), or stacked on top of each other (top and bottom units). |
| Brookfield Property Partners | Brookfield Property Partners L.P. is a global commercial real estate firm that is a publicly traded limited partnership and a subsidiary of Brookfield Asset Management, an alternative asset management company. Its portfolio includes properties in the office, multi-family residential, retail, hospitality, and logistics industries throughout North America, Europe, and Australia. |
| Boys Generally Asian | Boys Generally Asian, also known by the acronym BgA, is an American K-pop parody group that was created by YouTube personality Ryan Higa. The group, which describes itself as "guys who can't sing, dance or really speak Korean", debuted in 2016 with the single, "Dong Saya Dae". |
| Generally Accepted Accounting Principles (United States) | Generally Accepted Accounting Principles (GAAP or U.S. GAAP, pronounced like "gap") is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the latter differ considerably from GAAP and progress has been slow and uncertain. |
| Reverse mortgage | A reverse mortgage is a mortgage loan, usually secured by a residential property, that enables the borrower to access the unencumbered value of the property. The loans are typically promoted to older homeowners and typically do not require monthly mortgage payments. |
| Subprime lending | In finance, subprime lending (also referred to as near-prime, subpar, non-prime, and second-chance lending) is the provision of loans to people in the United States who may have difficulty maintaining the repayment schedule. Historically, subprime borrowers were defined as having FICO scores below 600, although this threshold has varied over time.These loans are characterized by higher interest rates, poor quality collateral, and less favorable terms in order to compensate for higher credit risk. |
| Nazi concentration camps | From 1933 to 1945, Nazi Germany operated more than a thousand concentration camps on its own territory and in parts of German-occupied Europe.\nThe first camps were established in March 1933 immediately after Adolf Hitler became Chancellor of Germany. |
| Auschwitz concentration camp | Auschwitz concentration camp (German: Konzentrationslager Auschwitz (pronounced [kɔntsɛntʁaˈtsi̯oːnsˌlaːɡɐ ˈʔaʊʃvɪts] (listen)); also KL Auschwitz or KZ Auschwitz) was a complex of over 40 concentration and extermination camps operated by Nazi Germany in occupied Poland (in a portion annexed into Germany in 1939) during World War II and the Holocaust. It consisted of Auschwitz I, the main camp (Stammlager) in Oświęcim; Auschwitz II-Birkenau, a concentration and extermination camp with gas chambers; Auschwitz III-Monowitz, a labor camp for the chemical conglomerate IG Farben; and dozens of subcamps. |
| Molar concentration | Molar concentration (also called molarity, amount concentration or substance concentration) is a measure of the concentration of a chemical species, in particular of a solute in a solution, in terms of amount of substance per unit volume of solution. In chemistry, the most commonly used unit for molarity is the number of moles per liter, having the unit symbol mol/L or mol/dm3 in SI unit. |
| Internment | Internment is the imprisonment of people, commonly in large groups, without charges or intent to file charges. The term is especially used for the confinement "of enemy citizens in wartime or of terrorism suspects". |
| Stress concentration | In solid mechanics, a stress concentration (also called a stress raiser or a stress riser) is a location in an object where the stress is significantly greater than the surrounding region. Stress concentrations occur when there are irregularities in the geometry or material of a structural component that cause an interruption to the flow of stress. |
| 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. |
| Holding company | A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. |
| List of largest companies in the United States by revenue | This list comprises the largest companies in the United States by revenue as of 2022, according to the Fortune 500 tally of companies. Retail corporation Walmart has been the largest company in the US by revenue since 2014. |
| Savings and loan association | A savings and loan association (S&L), or thrift institution, is a financial institution that specializes in accepting savings deposits and making mortgage and other loans. The terms "S&L" or "thrift" are mainly used in the United States; similar institutions in the United Kingdom, Ireland and some Commonwealth countries include building societies and trustee savings banks. |
| Hard money loan | A hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by real property. Hard money loans are typically issued by private investors or companies. |
| Management | Management (or managing) is the administration of an organization, whether it is a business, a non-profit organization, or a government body. It is the art and science of managing resources of the business. |
| Emergency management | Emergency management, also called emergency response or disaster management, is the organization and management of the resources and responsibilities for dealing with all humanitarian aspects of emergencies (prevention, preparedness, response, mitigation, and recovery). The aim is to prevent and reduce the harmful effects of all hazards, including disasters. |
| Yoda conditions | In programming jargon, Yoda conditions (also called Yoda notation) is a programming style where the two parts of an expression are reversed from the typical order in a conditional statement. A Yoda condition places the constant portion of the expression on the left side of the conditional statement. |
| Standard temperature and pressure | Standard temperature and pressure (STP) are standard sets of conditions for experimental measurements to be established to allow comparisons to be made between different sets of data. The most used standards are those of the International Union of Pure and Applied Chemistry (IUPAC) and the National Institute of Standards and Technology (NIST), although these are not universally accepted standards. |
| Conditions (album) | Conditions is the debut studio album by Australian rock band The Temper Trap, released in Australia through Liberation Music on 19 June 2009. It was later released in the United Kingdom on 10 August 2009. |
| Valuation using discounted cash flows | Valuation using discounted cash flows (DCF valuation) is a method of estimating the current value of a company based on projected future cash flows adjusted for the time value of money.\nThe cash flows are made up of those within the “explicit” forecast period, together with a continuing or terminal value that represents the cash flow stream after the forecast period. |
| Cash-flow diagram | A cash-flow diagram is a financial tool used to represent the cashflows associated with a security, "project", or business.\nAs per the graphics, cash flow diagrams are widely used in structuring and analyzing securities, particularly swaps. |
| List of largest banks | These are lists of the banks in the world, as measured by total assets.\n\n\n== By total assets ==\nThe list is based on the April 2021 S&P Global Market Intelligence report of the 100 largest banks in the world. |
| Operation Mincemeat | Operation Mincemeat was a successful British deception operation of the Second World War to disguise the 1943 Allied invasion of Sicily. Two members of British intelligence obtained the body of Glyndwr Michael, a tramp who died from eating rat poison, dressed him as an officer of the Royal Marines and placed personal items on him identifying him as the fictitious Captain (Acting Major) William Martin. |
| Special Activities Center | The Special Activities Center (SAC) is a division of the Central Intelligence Agency responsible for covert operations and paramilitary operations. The unit was named Special Activities Division (SAD) prior to 2015. |
| Emergency operations center | An emergency operations center (EOC) is a central command and control facility responsible for carrying out the principles of emergency preparedness and emergency management, or disaster management functions at a strategic level during an emergency, and ensuring the continuity of operation of a company, political subdivision or other organization.\nAn EOC is responsible for strategic direction and operational decisions and does not normally directly control field assets, instead leaving tactical decisions to lower commands. |
| Operation (mathematics) | In mathematics, an operation is a function which takes zero or more input values (called operands) to a well-defined output value. The number of operands (also known as arguments) is the arity of the operation. |
| Student loan | A student loan is a type of loan designed to help students pay for post-secondary education and the associated fees, such as tuition, books and supplies, and living expenses. It may differ from other types of loans in the fact that the interest rate may be substantially lower and the repayment schedule may be deferred while the student is still in school. |
| Participation loan | Participation loans are loans made by multiple lenders to a single borrower. \nSeveral banks, for example, might chip in to fund one extremely large loan, with one of the banks taking the role of the "lead bank". |
| PIK loan | A PIK, or payment in kind, is a type of high-risk loan or bond that allows borrowers to pay interest with additional debt, rather than cash. That makes it an expensive, high-risk financing instrument since the size of the debt may increase quickly, leaving lenders with big losses if the borrower is unable to pay back the loan. |
| Compound interest | Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on principal plus interest. It is the result of reinvesting interest, or adding it to the loaned capital rather than paying it out, or requiring payment from borrower, so that interest in the next period is then earned on the principal sum plus previously accumulated interest. |
| Neutral rate of interest | The neutral rate of interest, sometimes called the natural rate of interest, is the real (net of inflation) interest rate that supports the economy at full employment/maximum output while keeping inflation constant. It cannot be observed directly. |
| Financial institution | Financial institutions, sometimes called banking institutions, are business entities that provide services as intermediaries for different types of financial monetary transactions. Broadly speaking, there are three major types of financial institutions:\nDepository institutions – deposit-taking institutions that accept and manage deposits and make loans, including banks, building societies, credit unions, trust companies, and mortgage loan companies;\nContractual institutions – insurance companies and pension funds\nInvestment institutions – investment banks, underwriters, and other different types of financial entities managing investments.Financial institutions can be distinguished broadly into two categories according to ownership structure:\n\nCommercial banks\nCooperative banksSome experts see a trend toward homogenisation of financial institutions, meaning a tendency to invest in similar areas and have similar business strategies. |
| Statistical significance | In statistical hypothesis testing, a result has statistical significance when it is very unlikely to have occurred given the null hypothesis. More precisely, a study's defined significance level, denoted by \n \n \n \n α\n \n \n {\displaystyle \alpha }\n , is the probability of the study rejecting the null hypothesis, given that the null hypothesis is true; and the p-value of a result, \n \n \n \n p\n \n \n {\displaystyle p}\n , is the probability of obtaining a result at least as extreme, given that the null hypothesis is true. |
| Competition | Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, individuals, economic and social groups, etc. |
| Bank holding company | A bank holding company is a company that controls one or more banks, but does not necessarily engage in banking itself. The compound bancorp (banc/bank + corp[oration]) is often used to refer to these companies as well. |
| Risk Factors |
|---|
| DIME COMMUNITY BANCSHARES INC Item 1A Risk Factors The Bank’s focus on multifamily and commercial real estate lending may subject it to greater risk of an adverse impact on operations from a decline in the economy |
| The majority of loans in the Bank’s portfolio are secured by multifamily residential property |
| Multifamily loans are generally viewed as exposing lenders to a greater risk of loss than one- to four-family residential loans and typically involve higher loan principal amounts |
| Although multifamily loans are generally non-recourse, are underwritten based upon the cash flow generated by the collateral property and have loan to value ratios of less than 75prca, in a decline in the economy, a borrower experiencing financial difficulties in connection with one income producing property may default on all of its outstanding loans, even if the properties securing the other loans are generating positive cash flow |
| In addition, large loans tend to expose the Bank to a greater degree of risk due to the potential impact of losses from any one loan or concentration of loans to one borrower relative to the size of the Bank’s capital position |
| As part of the Company’s strategic plan, it has increased its emphasis on commercial real estate loans over the past five years |
| Loans secured by commercial real estate are generally larger and involve a greater degree of risk than one- to four-family and multifamily residential mortgage loans |
| Because payments on loans secured by commercial real estate are often dependent upon successful operation or management of the collateral properties, repayment of such loans are generally subject to a greater extent to the then prevailing conditions in the real estate market or the economy |
| Further, the collateral securing such loans may depreciate over time, may be difficult to appraise and may fluctuate in value based upon the success of the business |
| Multifamily and commercial real estate loans additionally involve a greater risk than one- to four- family residential mortgage loans because economic and real estate conditions and government regulations, such as rent control and rent stabilization laws, which are outside the control of the borrower or the Bank, could impair the value of the security for the loan or the future cash flow of such properties |
| As a result, rental income might not rise sufficiently over time to satisfy increases in the loan rate at repricing or increases in overhead expenses (ie, utilities, taxes, etc) |
| Impaired loans are thus difficult to identify before they become problematic |
| In addition, if the cash flow from a collateral property is reduced (eg, if leases are not obtained or renewed), the borrower’s ability to repay the loan and the value of the security for the loan may be impaired |
| Dependence on economic and real estate conditions and geographic concentration in market area |
| The Bank gathers deposits primarily from the communities and neighborhoods in close proximity to its branches |
| The Bank’s primary lending area is the New York City metropolitan area, although its overall lending area is much larger, and extends approximately 150 miles in each direction from its corporate headquarters in Brooklyn |
| The majority of the Bank’s mortgage loans are secured by properties located in its primary lending area, most of which are secured by real estate located in the New York City boroughs of Brooklyn, Queens and Manhattan |
| As a result of this geographic concentration, the Bank’s results of operations depend largely upon economic conditions in this area |
| A deterioration in economic conditions in the New York metropolitan area could have a material adverse impact upon the quality of the Bank’s loan portfolio and the demand for its products and services, and, accordingly, on the Company’s results of operations, cash flows, business, financial condition and prospects |
| Conditions in the real estate markets in which the collateral for the Bank’s mortgage loans are located strongly influence the level of the Bank’s non-performing loans and the value of its collateral |
| Real estate values are affected by, among other items, flucuations in general or local economic conditions, supply and demand, changes in governmental rules or policies, the availability of loans to potential purchasers and acts of nature |
| Declines in real estate markets have in the past and may in the future negatively impact the Company’s results of operations, cash flows, business, financial condition and prospects |
| The Bank’s allowance for loan losses is maintained at a level considered adequate by management to absorb losses inherent in its loan portfolio |
| The amount of inherent loan losses which could be ultimately realized is susceptible to changes in economic, operating and other conditions, including changes in interest rates, that could be beyond the Bank’s control |
| Such losses could exceed current estimates |
| Although management believes that the Bank’s allowance for loan losses is adequate, there can be no assurance that the allowance will be sufficient to satisfy actual loan losses should such losses be realized |
| Increases in interest rates may reduce the Company’s profitability |
| -31- _________________________________________________________________ The Bank’s primary source of income is its net interest income, which is the difference between the interest income earned on its interest earning assets and the interest expense incurred on its interest bearing liabilities |
| The one-year interest rate sensitivity gap is the difference between interest rate sensitive assets maturing or repricing within one year and interest rate sensitive liabilities maturing or repricing within one year, expressed as a percentage of total assets |
| In a rising interest rate environment, an institution with a negative gap would generally be expected, absent the effects of other factors, to experience a greater increase in its cost of liabilities relative to its yield on assets, and thus decrease its net interest income |
| In addition, the actual amount of time before mortgage loans and MBS are repaid can be significantly impacted by changes in mortgage redemption rates and market interest rates |
| Mortgage prepayment, satisfaction and refinancing rates will vary due to several factors, including the regional economy in the area where the underlying mortgages were originated, seasonal factors, and other demographic variables |
| However, the most significant factors affecting prepayment, satisfaction and refinancing rates are prevailing interest rates, related mortgage refinancing opportunities and competition |
| Based upon historical experience, if interest rates were to rise, the Bank would expect the demand for multifamily loans to decline |
| Decreased loan origination volume would likely negatively impact the Bankapstas interest income |
| In addition, if interest rates were to rise rapidly and result in an economic decline, the Bank would expect its level of non-performing loans to increase |
| Such an increase in non-performing loans may result in an increase to the allowance for loan losses and possible increased charge-offs, which would negatively impact the Companyapstas net income |
| As a federally-chartered savings bank, the Bank is required to monitor changes in its [55]NPV In addition, the Bank monitors its NPV ratio, which is the NPV divided by the estimated market value of total assets |
| The NPV ratio can be viewed as a corollary to the Bank’s capital ratios |
| To monitor its overall sensitivity to changes in interest rates, the Bank simulates the effect of instantaneous changes in interest rates of up to 200 basis points on its assets and liabilities |
| Interest rates do and will continue to fluctuate, and the Bank cannot predict future Federal Reserve actions or other factors that will cause interest rates to change |
| Risks related to changes in laws, government regulation and monetary policy |
| The Holding Company and the Bank are subject to extensive supervision, regulation and examination by the OTS, as the Bankapstas chartering agency, and the FDIC, as its deposit insurer |
| Such regulation limits the manner in which the Holding Company and the Bank conduct business, undertake new investments and activities and obtain financing |
| This regulation is designed primarily for the protection of the deposit insurance funds and the Bank’s depositors, and not to benefit the Bank or its creditors |
| The regulatory structure also provides the regulatory authorities extensive discretion in connection with their supervisory and enforcement activities and examination policies, including policies with respect to capital levels, the classification of assets and the establishment of adequate loan loss reserves for regulatory purposes |
| For further information regarding the laws and regulations that affect the Holding Company and the Bank, see [56] "e Item 1 |
| Business -Regulation of Holding Company "e |
| Financial institution regulation has been the subject of significant legislation in recent years, and may be the subject of further significant legislation in the future, none of which is within the control of the Holding Company or the Bank |
| Significant new laws or changes in, or repeals of, existing laws may cause the Companyapstas results of operations to differ materially |
| Further, federal monetary policy, particularly as implemented through the OTS, significantly affects credit conditions for the Company, primarily through open market operations in United States government securities, the discount rate for bank borrowings and reserve requirements |
| A material change in any of these conditions would have a material impact on the Bank, and therefore, on the Company’s results of operations |
| Competition from other financial institutions in originating loans and attracting deposits may adversely affect profitability |
| The Bankapstas retail banking and a significant portion of its lending business are concentrated in the New York metropolitan area |
| The New York City banking environment is extremely competitive |
| The Bank’s competition for loans exists principally from savings banks, commercial banks, mortgage banks and insurance companies |
| The Bank has faced sustained competition for the origination of multifamily residential and commercial real estate loans |
| Management anticipates that the current level of competition for multifamily residential and commercial real estate loans will continue for the foreseeable future, and this competition may inhibit the Bank’s ability to maintain its current level and pricing of such loans |
| The Bank gathers deposits in direct competition with commercial banks, savings banks and brokerage firms, many among the largest in the nation |
| In addition, it must also compete for deposit monies against the stock markets and mutual funds, especially during periods of strong performance in the equity markets |
| Over the previous decade, consolidation in the financial services industry, coupled with the emergence of Internet banking, has altered the deposit gathering landscape and may increase competitive pressures on the Bank |