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UKG The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a sovereign country in Europe, off the north-western coast of the continental mainland. It comprises England, Wales, Scotland, and Northern Ireland.
Investment Investment is the dedication of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort.
New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed companies at US$30.1 trillion as of February 2018.
Population decline A population decline (also sometimes called underpopulation, depopulation, or population collapse) in humans is a reduction in a human population size. Over the long term, stretching from prehistory to the present, Earth's total human population has continued to grow; however, current projections suggest that this long-term trend of steady population growth may be coming to an end.Until the beginning of the Industrial Revolution, global population grew very slowly.
Gout The goat or domestic goat (Capra hircus) is a domesticated species of goat-antelope typically kept as livestock. It was domesticated from the wild goat (C. aegagrus) of Southwest Asia and Eastern Europe.
Temperature record of the last 2,000 years The temperature record of the last 2,000 years is reconstructed using data from climate proxy records in conjunction with the modern instrumental temperature record which only covers the last 170 years at a global scale. Large-scale reconstructions covering part or all of the 1st millennium and 2nd millennium have shown that recent temperatures are exceptional: the Intergovernmental Panel on Climate Change Fourth Assessment Report of 2007 concluded that "Average Northern Hemisphere temperatures during the second half of the 20th century were very likely higher than during any other 50-year period in the last 500 years and likely the highest in at least the past 1,300 years." The curve shown in graphs of these reconstructions is widely known as the hockey stick graph because of the sharp increase in temperatures during the last century.
List of countries by central bank interest rates This is a list of countries by annualized interest rate set by the central bank for charging commercial, depository banks for loans to meet temporary shortages of funds.
Income statement An income statement or profit and loss account (also referred to as a profit and loss statement (P&L), statement of profit or loss, revenue statement, statement of financial performance, earnings statement, statement of earnings, operating statement, or statement of operations) is one of the financial statements of a company and shows the company's revenues and expenses during a particular period.It indicates how the revenues (also known as the “top line”) are transformed into the net income or net profit (the result after all revenues and expenses have been accounted for). The purpose of the income statement is to show managers and investors whether the company made money (profit) or lost money (loss) during the period being reported.
Annual percentage rate The term annual percentage rate of charge (APR), corresponding sometimes to a nominal APR and sometimes to an effective APR (EAPR), is the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc. It is a finance charge expressed as an annual rate.
Federal funds rate In the United States, the federal funds rate is the interest rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight on an uncollateralized basis. Reserve balances are amounts held at the Federal Reserve to maintain depository institutions' reserve requirements.
Investment Securities A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction.
June 6 June 6 is the 157th day of the year (158th in leap years) in the Gregorian calendar; 208 days remain until the end of the year.\n\n\n== Events ==\n\n\n=== Pre-1600 ===\n\n913 – Constantine VII, the eight-year-old illegitimate son of Leo VI the Wise, becomes nominal ruler of the Byzantine Empire under the regency of a seven-man council headed by Patriarch Nicholas Mystikos, appointed by Constantine's uncle Alexander III on his deathbed.
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.
Associate degree An associate degree is an undergraduate degree awarded after a course of post-secondary study lasting two to three years. It is a level of qualification above a high school diploma, GED, or matriculation, and below a bachelor's degree.
Hysterectomy Hysterectomy is the surgical removal of the uterus. It may also involve removal of the cervix, ovaries (oophorectomy), Fallopian tubes (salpingectomy), and other surrounding structures.
Bank of America Home Loans Bank of America Home Loans is the mortgage unit of Bank of America. In 2008, Bank of America purchased the failing Countrywide Financial for $4.1 billion.
Decipher (After Forever album) Decipher is the second album by Dutch symphonic metal band After Forever, released on 27 December 2001. In this album, the band make use of live classical instruments and a complete choir to back up the soprano voice of lead singer Floor Jansen.
Necessary But Not Sufficient In logic and mathematics, necessity and sufficiency are terms used to describe a conditional or implicational relationship between two statements. For example, in the conditional statement: "If P then Q", Q is necessary for P, because the truth of Q is guaranteed by the truth of P (equivalently, it is impossible to have P without Q).
Chronology of the universe The chronology of the universe describes the history and future of the universe according to Big Bang cosmology.\nResearch published in 2015 estimates the earliest stages of the universe's existence as taking place 13.8 billion years ago, with an uncertainty of around 21 million years at the 68% confidence level.
Boeing 787 Dreamliner The Boeing 787 Dreamliner is an American wide-body jet airliner developed and manufactured by Boeing Commercial Airplanes.\nAfter dropping its Sonic Cruiser project, Boeing announced the conventional 7E7 on January 29, 2003, focused on efficiency.
Gender Genre (from French genre 'kind, sort') is any form or type of communication in any mode (written, spoken, digital, artistic, etc.) with socially-agreed-upon conventions developed over time. In popular usage, it normally describes a category of literature, music, or other forms of art or entertainment, whether written or spoken, audio or visual, based on some set of stylistic criteria, yet genres can be aesthetic, rhetorical, communicative, or functional.
The Simpsons The Simpsons is an American animated sitcom created by Matt Groening for the Fox Broadcasting Company. The series is a satirical depiction of American life, epitomized by the Simpson family, which consists of Homer, Marge, Bart, Lisa, and Maggie.
Bank payment obligation Bank payment obligation (BPO) is a class of settlement solution in international supply chain finance.\nThe solution is championed by SWIFT and the International Chamber of Commerce (ICC) Banking Commission as a means to move away from letter of credit schemes toward "support[ing] the development of a globally accepted standardised environment and establishment of the BPO as a neutral industry-wide practice".
Solidary obligations A solidary obligation, or an obligation in solidum, is a type of obligation in the civil law jurisprudence that allows either obligors to be bound together, each liable for the whole performance, or obligees to be bound together, all owed just a single performance and each entitled to the entirety of it. In general, solidarity of an obligation is never presumed, and it must be expressly stated as the true intent of the parties' will.
Iron Iran (Persian: ایران Irân [ʔiːˈɾɒːn] (listen)), also called Persia, and officially the Islamic Republic of Iran, is a country in Western Asia. It is bordered by Iraq and Turkey to the west, by Azerbaijan and Armenia to the northwest, by the Caspian Sea and Turkmenistan to the north, by Afghanistan and Pakistan to the east, and by the Gulf of Oman and the Persian Gulf to the south.
Capital (economics) In economics, capital goods or capital consists of "those durable produced goods that are in turn used as productive inputs for further production" of goods and services. At the macroeconomic level, "the nation's capital stock includes buildings, equipment, software, and inventories during a given year."A typical example is the machinery used in factories.
Competition regulator A competition regulator is the institution that oversees the functioning of the markets. And the Law in which it takes cognizance of situations having any type of impediments and distortions on the markets and correct them is the competition law (also known as antitrust law).
List of United States insurance companies This is a list of insurance companies based in the United States. These are companies with a strong national or regional presence having insurance as their primary business.
Substantially equal periodic payments Substantially equal periodic payments (SEPP) are one of the exceptions in the United States Internal Revenue Code that allows a retiree to receive payments before age 591⁄2 from a retirement plan or deferred annuity without the 10% early distribution penalty under certain circumstances.\n\n\n== Rules ==\nThe rules for SEPPs are set out in Code section 72(t) (for retirement plans) and section 72(q) (for annuities), and allow for three methods of calculating the allowed withdrawal amount:\n\nRequired minimum distribution method, based on the life expectancy of the account owner (or the joint life of the owner and his/her beneficiary) using the IRS tables for required minimum distributions.
High-definition television High-definition television (HD or HDTV) describes a television system providing a substantially higher image resolution than the previous generation of technologies. The term has been used since 1936, in more recent times it refers to the generation following standard-definition television (SDTV), often abbreviated to HDTV or HD-TV. It is the current de facto standard video format used in most broadcasts: terrestrial broadcast television, cable television, satellite television and Blu-ray Discs.
Air conditioning Air conditioning, often abbreviated as A/C or AC, is the process of removing heat and controlling the humidity of air in an enclosed space to achieve a more comfortable interior environment by use of powered "air conditioners" or a variety of other methods, including passive cooling and ventilative cooling. Air conditioning is a member of a family of systems and techniques that provide heating, ventilation, and air conditioning (HVAC).
Recession In economics, a recession is a business cycle contraction when there is a general decline in economic activity. Recessions generally occur when there is a widespread drop in spending (an adverse demand shock).
Occupational Safety, Health and Working Conditions Code, 2020 The Occupational Safety, Health And Working Conditions Code, 2020 is a code to consolidate and amend the laws regulating the Occupational safety and health and working conditions of the persons employed in an establishment. The Act replaces 13 old central labour laws.
National Association of Realtors The National Association of Realtors (NAR) is an American trade association for those who work in the real estate industry. It has over 1.4 million members, including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.
Risk Factors
K-FED BANCORP Item 1A Risk Factors The following are certain risk factors that could impact our business, financial results and results of operations
Investing in our common stock involves risks, including those described below
These risk factors should be considered by prospective and current investors in our common stock when evaluating the disclosures in this Annual Report on Form 10-K (particularly the forward-looking statements
) These risk factors could cause actual results and conditions to differ materially from those projected in forward-looking statements
If the risks we face, including those listed below, actually occur, our business, financial condition or results of operations could be negatively impacted, and the trading price of our common stock could decline, which may cause you to lose all or part of your investment
Rising interest rates may hurt our profits
Interest rates are at historically low levels, despite increases over the past two years
If interest rates continue to rise, our net interest income and the value of our assets could be reduced if interest paid on interest-bearing liabilities, such as deposits and borrowings, increases more quickly than interest received on interest-earning assets, such as loans, mortgage-related and investment securities
For example, if we experienced an immediate 100 basis point rise in interest rates as of June 30, 2006, 38 ______________________________________________________________________ the market value of our portfolio equity could decrease by dlra10dtta1 million
See Item 7A—“Quantitative and Qualitative Disclosures About Market Risk
” In addition, rising interest rates may hurt our income because they may reduce the demand for loans and the value of our securities
Our loan portfolio possesses increased risk due to our substantial number of multi-family, commercial real estate and consumer loans
Our multi-family, commercial real estate and consumer loans accounted for approximately 31dtta4prca of our total loan portfolio as of June 30, 2006
Generally, we consider these types of loans to involve a higher degree of risk compared to first mortgage loans on one- to four-family, owner-occupied residential properties
In addition, we plan to increase our emphasis on multi-family and commercial real estate lending
Because of our planned increased emphasis on and increased investment in multi-family and commercial real estate lending, it may become necessary to increase the level of our provision for loan losses, which could hurt our profits
Our loan portfolio possesses increased risk due to its rapid expansion, unseasoned nature and amount of nonconforming loans
Since June 30, 2003, our loan portfolio has grown by dlra244dtta5 million or 162dtta7prca
As a result of this rapid expansion, a significant portion of our portfolio is unseasoned, with the risk that these loans may not have had sufficient time to perform to properly indicate the potential magnitude of losses
Our unseasoned adjustable rate loans have not, therefore, been subject to an interest rate environment which causes them to adjust to the maximum level and may involve risks resulting from potentially increasing payment obligations by the borrower as a result of repricing
Most of our adjustable rate mortgage loans are also non-conforming, due mainly to the generally large loan size and are, therefore, not readily saleable to Freddie Mac or Fannie Mae
They are, however, saleable to other private investors
Strong Competition Within Our Market Area May Limit Our Growth and Profitability
Competition in the banking and financial services industry is intense
In our market area, we compete with commercial banks, savings institutions, mortgage brokerage firms, credit unions, finance companies, mutual funds, insurance companies, and brokerage and investment banking firms operating locally and elsewhere
Many of these competitors have substantially greater resources and lending limits than we do and may offer certain services that we do not or cannot provide
Our profitability depends upon our continued ability to successfully compete in our market
If economic conditions deteriorate, our results of operations and financial condition could be adversely impacted as borrowers’ ability to repay loans declines and the value of the collateral securing our loans decreases
Our financial results may be adversely affected by changes in prevailing economic conditions, including decreases in real estate values, changes in interest rates which may cause a decrease in interest rate spreads, adverse employment conditions, the monetary and fiscal policies of the federal government and other significant external events
Because we have a significant amount of real estate loans, decreases in real estate values could adversely affect the value of property used as collateral
Adverse changes in the economy may also have a negative effect on the ability of our borrowers to make timely repayments of their loans, which would have an adverse impact on our earnings
In this regard, approximately 100prca of our loans are to individuals and businesses in California