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Wiki Wiki Summary
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.
Problem management Problem management is the process responsible for managing the lifecycle of all problems that happen or could happen in an IT service. The primary objectives of problem management are to prevent problems and resulting incidents from happening, to eliminate recurring incidents, and to minimize the impact of incidents that cannot be prevented.
Network management Network management is the process of administering and managing computer networks. Services provided by this discipline include fault analysis, performance management, provisioning of networks and maintaining quality of service.
Women Management Women Management is a modeling agency based in New York. Founded by Paul Rowland in 1988, Women also has two sister agencies, Supreme Management and Women 360 Management, which is also part of the Women International Agency Chain.
Income tax in the United States Income taxes in the United States are imposed by the federal government, and most states. The income taxes are determined by applying a tax rate, which may increase as income increases, to taxable income, which is the total income less allowable deductions.
Regulation of therapeutic goods The regulation of therapeutic goods, defined as drugs and therapeutic devices, varies by jurisdiction. In some countries, such as the United States, they are regulated at the national level by a single agency.
Federal Reserve The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises.
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.
Equity (finance) In finance, equity is ownership of assets that may have debts or other liabilities attached to them. Equity is measured for accounting purposes by subtracting liabilities from the value of the assets.
Interest rate An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited, or borrowed.
Arithmetic Arithmetic (from Ancient Greek ἀριθμός (arithmós) 'number', and τική [τέχνη] (tikḗ [tékhnē]) 'art, craft') is an elementary part of mathematics that consists of the study of the properties of the traditional operations on numbers—addition, subtraction, multiplication, division, exponentiation, and extraction of roots. In the 19th century, Italian mathematician Giuseppe Peano formalized arithmetic with his Peano axioms, which are highly important to the field of mathematical logic today.
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.
Operations management Operations management is an area of management concerned with designing and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed and effective in meeting customer requirements.
Operations research Operations research (British English: operational research), often shortened to the initialism OR, is a discipline that deals with the development and application of advanced analytical methods to improve decision-making. It is sometimes considered to be a subfield of mathematical sciences.
Operations director The role of operations director generally encompasses the oversight of operational aspects of company strategy with responsibilities to ensure operation information is supplied to the chief executive and the board of directors as well as external parties.\n\n\n== Description ==\nThe role of operations director can vary according to the size of a company, and at some companies many even encompass some or all the functions of a chief operating officer.The Institute of Directors of the United Kingdom defines the role as overseeing "all operational aspects of company strategy" and "responsible for the flow of operations information to the chief executive, the board and, where necessary, external parties such as investors or financial institutions".
Financial condition report In accounting, a financial condition report (FCR) is a report on the solvency condition of an insurance company that takes into account both the current financial status, as reflected in the balance sheet, and an assessment of the ability of the company to survive future risk scenarios. Risk assessment in an FCR involves dynamic solvency testing, a type of dynamic financial analysis that simulates management response to risk scenarios, to test whether a company could remain solvent in the face of deteriorating economic conditions or major disasters.
Financial statement Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity.\nRelevant financial information is presented in a structured manner and in a form which is easy to understand.
Financial analysis Financial analysis (also referred to as financial statement analysis or accounting analysis or Analysis of finance) refers to an assessment of the viability, stability, and profitability of a business, sub-business or project. \nIt is performed by professionals who prepare reports using ratios and other techniques, that make use of information taken from financial statements and other reports.
Form 10-K A Form 10-K is an annual report required by the U.S. Securities and Exchange Commission (SEC), that gives a comprehensive summary of a company's financial performance. Although similarly named, the annual report on Form 10-K is distinct from the often glossy "annual report to shareholders," which a company must send to its shareholders when it holds an annual meeting to elect directors (though some companies combine the annual report and the 10-K into one document).
Federal takeover of Fannie Mae and Freddie Mac In September 2008 the Federal Housing Finance Agency (FHFA) announced that it would take over the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Both government-sponsored enterprises, which finance home mortgages in the United States by issuing bonds, had become illiquid as the market for those bonds collapsed in the subprime mortgage crisis.
Redirect examination Redirect examination, in the United States, is the questioning of a witness who has already provided testimony under oath in response to direct examination as well as cross examination by the opponent. On redirect, the attorney offering the witness will ask additional questions that attempt to rehabilitate the witness's credibility, or otherwise mitigate deficiencies identified and explored by the opponent on cross.
Subsidiary A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that belong to the same parent company are called sister companies.
Emirates subsidiaries Emirates Airline has diversified into related industries and sectors, including airport services, event organization, engineering, catering, and tour operator operations. Emirates has four subsidiaries, and its parent company has more than 50.
Subsidiary alliance A subsidiary alliance, in South Asian history, was a tributary alliance between an Indian state and a European East India Company. The system of subsidiary alliances was pioneered by the French East India Company governor Joseph François Dupleix, who in the late 1740s established treaties with the Nizam of Hyderabad, India, and other Indian princes in the Carnatic.It stated that the Indian rulers who formed a treaty with the British would be provided with protection against any external attacks in place that the rulers were (a) required to keep the British army at the capitals of their states (b)they were either to give either money or some territory to the company for the maintenance of the British troops (c) they were to turn out from their states all non-english europeans whether they were employed in the army or in the civil service and (d)they had to keep a British official called 'resident' at the capital of their respective states who would oversee all the negotiations and talks with the other states which meant that the rulers were to have no direct correspondence or relations with the other states .
Operating subsidiary An operating subsidiary is a subsidiary of a corporation through which the parent company (which may or may not be a holding company) indirectly conducts some portion of its business. Usually, an operating subsidiary can be distinguished in that even if its board of directors and officers overlap with those of other entities in the same corporate group, it has at least some officers and employees who conduct business operations primarily on behalf of the subsidiary alone (that is, they work directly for the subsidiary).
Paper railroad In the United States, a paper railroad is a company in the railroad business that exists "on paper only": as a legal entity which does not own any track, locomotives, or rolling stock.\nIn the early days of railroad construction, paper railroads had to exist by necessity while in the financing stage.
People's Bank of China The People's Bank of China (officially PBC or informally PBOC; Chinese: 中国人民银行) is the central bank of the People's Republic of China responsible for carrying out monetary policy and regulation of financial institutions in mainland China, as determined by the People's Bank Law and the Commercial Bank Law. It is a cabinet-level executive department of the State Council.While operating with some degree of autonomy, the PBC lacks central bank independence and is politically required to implement the policies of the Chinese Communist Party.
PeoplesBank PeoplesBank is the largest community bank in Western Massachusetts, providing banking and other financial services. As of 2020 it had $3.3 billion in assets.
Peoples Bank (Mendenhall, Mississippi) Peoples Bank is a $300 million community bank based in Mendenhall, Mississippi. Brick and mortar branches are located in Collins, Magee, Mendenhall and Richland in addition to ITM/ATM services in Puckett and New Hebron.
Peoples Savings Bank The Peoples Savings Bank in Cedar Rapids, Iowa, was designed by Louis Sullivan. It was the second of a number of small "jewel box" banks in midwest towns designed by Sullivan during 1907 to 1919.
Peoples National Bank robbery The Peoples National Bank burglary took place on February 18–19, 1961, when the safe deposit vault at the Seattle, Washington branch of Peoples National Bank of Washington (now U.S. Bancorp) was broken into and $45,689.53 ($295,982 today) in cash were looted. The perpetrator, unemployed pilot Wells Benner van Steenbergh, Jr., was apprehended two weeks later.
Regulation A In the United States under the Securities Act of 1933, any offer to sell securities must either be registered with the United States Securities and Exchange Commission (SEC) or meet certain qualifications to exempt it from such registration. Regulation A (or Reg A) contains rules providing exemptions from the registration requirements, allowing some companies to use equity crowdfunding to offer and sell their securities without having to register the securities with the SEC. Regulation A offerings are intended to make access to capital possible for small and medium-sized companies that could not otherwise bear the costs of a normal SEC registration and to allow nonaccredited investors to participate in the offering.
Imperial examination The imperial examination, or keju (Chinese: 科舉; lit. "subject recommendation") was a civil-service examination system in Imperial China, administered for the purpose of selecting candidates for the state bureaucracy.
Physical examination In a physical examination, medical examination, or clinical examination, a medical practitioner examines a patient for any possible medical signs or symptoms of a medical condition. It generally consists of a series of questions about the patient's medical history followed by an examination based on the reported symptoms.
Risk Factors
PEOPLES BANCORP INC Item 1A Risk Factors 16 ITEM 1A RISK FACTORS - ---------------------- The following are certain risks that management believes are specific to Peoples &apos business
o CHANGES IN INTEREST RATES MAY ADVERSELY AFFECT PEOPLES &apos PROFITABILITY Peoples &apos earnings are dependent to a significant degree on net interest income, which is the amount by which interest income exceeds interest expense
Interest rates are highly sensitive to many factors that are beyond Peoples &apos control, including general economic conditions and policies of various governmental and regulatory agencies and, in particular, the Board of Governors of the Federal Reserve System
Changes in monetary policy, including changes in interest rates, could influence not only the interest Peoples receives on loans and securities and the amount of interest it pays on deposits and borrowings, but such changes could also affect (i) Peoples &apos ability to originate loans and obtain deposits, (ii) the fair value of Peoples &apos financial assets and liabilities, and (iii) the average duration of Peoples &apos mortgage-backed securities portfolio
If the interest rates paid on deposits and other borrowings increase at a faster rate than the interest rates received on loans and other investments, Peoples &apos net interest income, and therefore earnings, could be adversely affected
Earnings could also be adversely affected if the interest rates received on loans and other investments fall more quickly than the interest rates paid on deposits and other borrowings
Management uses various measures to monitor interest rate risk and believes it has implemented effective asset and liability management strategies to reduce the potential effects of changes in interest rates on Peoples &apos results of operations
Management also periodically adjusts the mix of assets and liabilities to manage interest rate risk
However, any substantial, unexpected, prolonged change in market interest rates could have a material adverse effect on Peoples &apos financial condition and results of operations
See the sections captioned &quote Interest Income and Expense &quote and &quote Interest Rate Risk and Liquidity &quote in Item 7 of this Form 10-K for further discussion related to Peoples &apos interest rate risk
o PEOPLES &apos EXPOSURE TO CREDIT RISK COULD ADVERSELY AFFECT PEOPLES &apos EARNINGS AND FINANCIAL CONDITION There are certain risks inherent in making loans
These risks include interest rate changes over the time period in which loans may be repaid, risks resulting from changes in the economy, risks inherent in dealing with borrowers and, in the case of loans secured by collateral, risks resulting from uncertainties about the future value of the collateral
Commercial and commercial real estate loans comprise a significant portion of Peoples &apos loan portfolio
Commercial loans generally are viewed as having a higher credit risk than residential real estate or consumer loans because they usually involve larger loan balances to a single borrower and are more susceptible to a risk of default during an economic downturn
Since Peoples &apos loan portfolio contains a significant number of commercial and commercial real estate loans, the deterioration of one or a few of these loans could cause a significant increase in non-performing loans, and ultimately could have a material adverse effect on Peoples &apos earnings and financial condition
o PEOPLES &apos ALLOWANCE FOR LOAN LOSSES MAY BE INSUFFICIENT Peoples maintains an allowance for loan losses to provide for probable loan losses based on managementapstas quarterly analysis of the loan portfolio
There can be no assurance on the timing or amount of actual loan losses or that charge-offs in future periods will not exceed the allowance for loan losses
In addition, federal and state regulators periodically review Peoples &apos allowance for loan losses as part of their examination process and may require management to increase the allowance or recognize further loan charge-offs based on judgments different than those of management
Any increase in the provision for loan losses would decrease Peoples &apos pretax and net income
o ADVERSE ECONOMIC CONDITIONS MAY ADVERSELY IMPACT PEOPLES &apos RESULTS OF OPERATIONS Peoples &apos success depends primarily on the general economic conditions in the specific local markets in which it operates
The local economies of Peoples &apos market area historically have been less robust than the economy of the nation as a whole and are not subject to the same fluctuations as the national economy
Adverse economic conditions in Peoples &apos market area, including the loss of certain significant employers, could reduce Peoples &apos growth rate, affect its borrowers &apos ability to repay their loans and generally affect Peoples &apos financial condition and results of operations
Furthermore, a downturn in real estate values in Peoples &apos market area could cause many of its loans to become inadequately collateralized
o THE FINANCIAL SERVICES INDUSTRY IS VERY COMPETITIVE Peoples experiences significant competition in originating loans, principally from other commercial banks, savings associations and credit unions
Several of Peoples &apos competitors have greater resources, larger branch systems and a wider array of banking services
This competition could reduce Peoples &apos net income by decreasing the number and size of loans that it originates and the interest rates it may charge on these loans
For a more complete discussion of Peoples &apos competitive environment, see &quote Business--Competition &quote in Item 1 of this Form 10-K If Peoples is unable to compete effectively, Peoples will lose market share and income from deposits, loans and other products may be reduced
o PEOPLES &apos ABILITY TO PAY DIVIDENDS IS LIMITED Peoples is a separate and distinct legal entity from its subsidiaries
Peoples receives nearly all of its revenue from dividends from Peoples Bank, which are limited by federal banking laws and regulations
These dividends also serve as the primary source of funds to pay dividends on Peoples &apos common shares and interest and principal on Peoples &apos debt
The inability of Peoples Bank to pay sufficient dividends to Peoples could have a material, adverse effect on Peoples &apos business
Further discussion of Peoples &apos ability to pay dividends can be found under the caption &quote Supervision and Regulation-Limits on Dividends &quote in Item 1 of this Form 10-K and Note 13 of the Notes to the Consolidated Financial Statements included in Item 8 of this Form 10-K o GOVERNMENT REGULATION SIGNIFICANTLY AFFECTS OUR BUSINESS The banking industry is heavily regulated under both federal and state law
Peoples is subject to regulation and supervision by the Federal Reserve Board, and Peoples Bank is subject to regulation and supervision by the Office of the Comptroller of the Currency
These regulations are primarily intended to protect depositors and the federal deposit insurance funds, not Peoples &apos shareholders
Peoples &apos non-bank subsidiaries are also subject to the supervision of the Federal Reserve Board, in addition to other regulatory and self-regulatory agencies including the Securities and Exchange Commission and state securities and insurance regulators
Regulations affecting banks and financial services businesses are undergoing continuous change, and management cannot predict the effect of those changes
Regulations and laws may be modified at any time, and new legislation may be enacted that affects Peoples and its subsidiaries
Any modifications or new laws could adversely affect Peoples &apos business
Further information about government regulation of Peoples &apos business can be found under the caption &quote Supervision and Regulation &quote in Item 1 of this Form 10-K o PEOPLES AND ITS SUBSIDIARIES ARE SUBJECT TO EXAMINATIONS AND CHALLENGES BY TAX AUTHORITIES In the normal course of business, Peoples and its subsidiaries are routinely subject to examinations and challenges from federal and state tax authorities regarding positions taken in their tax returns
State tax authorities have become increasingly aggressive in challenging tax positions taken by financial institutions, especially those positions relating to tax compliance and calculation of taxes subject to apportionment
Any challenge or examination by a tax authority may result in adjustments to the timing or amount of taxable income or deductions or the allocation of income among tax jurisdictions
While management believes it has taken appropriate positions on the tax returns filed, any examination or challenge made that is not resolved in our favor could have a material adverse effect on Peoples &apos financial condition and results of operation
Peoples Bank is currently undergoing an examination by the Ohio Department of Taxation of its 2002 Ohio Corporation Franchise Tax Reports
Management has agreed to a one-year extension of the statue of limitations for the 2002 year
However, the administrative process is not yet complete and Peoples Bank has not received a notice of any proposed adjustment
Due to the fact the Ohio Department of Taxation is in the early stages of its administrative process, management cannot accurately make an estimate of potential exposure, if any, although no assurance can be given that the ultimate outcome of this examination will not have a material impact on Peoples &apos financial condition and results of operation
o ANTI-TAKEOVER PROVISIONS MAY DELAY OR PREVENT AN ACQUISITION OR CHANGE IN CONTROL BY A THIRD PARTY Provisions in the Ohio General Corporation Law and Peoples &apos amended articles of incorporation and code of regulations, including a staggered board and a supermajority vote requirement for significant corporate changes, could discourage potential takeover attempts and make attempts by shareholders to remove Peoples &apos board of directors and management more difficult
These provisions may also have the effect of delaying or preventing a transaction or change in control that might be in the best interests of Peoples &apos shareholders