| Industries |
|---|
| Asset Management and Custody Banks |
| Commercial and Professional Services |
| Diversified Commercial Services |
| Construction and Engineering |
| Construction Materials |
| Construction and Farm Machinery and Heavy Trucks |
| Exposures |
|---|
| Provide |
| Express intent |
| Economic |
| Military |
| Event Codes |
|---|
| Accident |
| Release or return |
| Acknowledge responsibility |
| Promise |
| Yield |
| Solicit support |
| Yield to order |
| Force |
| Human death |
| Endorse |
| Warn |
| Wiki | Wiki Summary |
|---|---|
| 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. |
| Growth hormone | Growth hormone (GH) or somatotropin, also known as human growth hormone (hGH or HGH) in its human form, is a peptide hormone that stimulates growth, cell reproduction, and cell regeneration in humans and other animals. It is thus important in human development. |
| Blue revolution | The Blue Revolution refers to the significant growth and intensification of global aquaculture production -domestication and farming of fish, shellfish, and aquatic plants- from the middle of the 20th century to present, particularly in underdeveloped countries. The peak and subsequent stagnation of capture fishery production in the late 1980s spurred technological innovation and improved efficiency for aquaculture production. |
| Dwarfism | Dwarfism describes a condition wherein an organism is exceptionally small, and mostly occurs in the animal kingdom. In humans, it is sometimes defined as an adult height of less than 147 centimetres (4 ft 10 in), regardless of sex; the average adult height among people with dwarfism is 122 centimetres (4 ft 0 in), although some individuals with dwarfism are slightly taller. |
| Closed-circuit television | Closed-circuit television (CCTV), also known as video surveillance, is the use of video cameras to transmit a signal to a specific place, on a limited set of monitors. It differs from broadcast television in that the signal is not openly transmitted, though it may employ point-to-point (P2P), point-to-multipoint (P2MP), or mesh wired or wireless links. |
| Commercial property | Commercial property, also called commercial real estate, investment property or income property, is real estate (buildings or land) intended to generate a profit, either from capital gains or rental income. Commercial property includes office buildings, medical centers, hotels, malls, retail stores, multifamily housing buildings, farm land, warehouses, and garages. |
| Risk management | Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.\nRisks can come from various sources including uncertainty in international markets, threats from project failures (at any phase in design, development, production, or sustaining of life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root-cause. |
| Institution | Institutions are humanly devised structures of rules and norms that shape and constrain individual behavior. All definitions of institutions generally entail that there is a level of persistence and continuity. |
| Smithsonian Institution | The Smithsonian Institution ( smith-SOH-nee-ən), or simply the Smithsonian, is a group of museums and education and research centers, the largest such complex in the world, created by the U.S. Government "for the increase and diffusion of knowledge". Founded on August 10, 1846, it operates as a trust instrumentality and is not formally a part of any of the three branches of the federal government. |
| Cultural institution | A cultural institution or cultural organization is an organization within a culture/subculture that works for the preservation or promotion of culture. The term is especially used of public and charitable organizations, but its range of meaning can be very broad. |
| Disciplinary institution | Disciplinary institutions (French: institution disciplinaire) is a concept proposed by Michel Foucault in Discipline and Punish (1975). School, prison, barracks, or the hospital are examples of historical disciplinary institutions, all created in their modern form in the 19th century with the Industrial Revolution. |
| Language acquisition | Language acquisition is the process by which humans acquire the capacity to perceive and comprehend language (in other words, gain the ability to be aware of language and to understand it), as well as to produce and use words and sentences to communicate.\nLanguage acquisition involves structures, rules and representation. |
| List of mergers and acquisitions by Meta Platforms | Meta Platforms (formerly Facebook, Inc.) is a technology company that has acquired 91 other companies, including WhatsApp. The WhatsApp acquisition closed at a steep $16 billion; more than $40 per user of the platform. |
| Knowledge acquisition | Knowledge acquisition is the process used to define the rules and ontologies required for a knowledge-based system. The phrase was first used in conjunction with expert systems to describe the initial tasks associated with developing an expert system, namely finding and interviewing domain experts and capturing their knowledge via rules, objects, and frame-based ontologies. |
| List of acquisitions by Oracle | This is a listing of Oracle Corporation's corporate acquisitions, including acquisitions of both companies and individual products.\nOracle's version does not include value of the acquisition.See also Category:Sun Microsystems acquisitions (Sun was acquired by Oracle). |
| Adjustable-rate mortgage | A variable-rate mortgage, adjustable-rate mortgage (ARM), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets. The loan may be offered at the lender's standard variable rate/base rate. |
| Regulation | Regulation is the management of complex systems according to a set of rules and trends. In systems theory, these types of rules exist in various fields of biology and society, but the term has slightly different meanings according to context. |
| Regulation (European Union) | A regulation is a legal act of the European Union that becomes immediately enforceable as law in all member states simultaneously. Regulations can be distinguished from directives which, at least in principle, need to be transposed into national law. |
| 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. |
| New York Codes, Rules and Regulations | The New York Codes, Rules and Regulations (NYCRR) contains New York state rules and regulations. The NYCRR is officially compiled by the New York State Department of State's Division of Administrative Rules. |
| 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. |
| 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. |
| 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 law | Financial law is the law and regulation of the insurance, derivatives, commercial banking, capital markets and investment management sectors. Understanding Financial law is crucial to appreciating the creation and formation of banking and financial regulation, as well as the legal framework for finance generally. |
| Trustmark (bank) | Trustmark is a commercial bank and financial services company headquartered in Jackson, Mississippi, United States, with subsidiaries Trustmark National Bank, Trustmark Investment Advisors, and Fisher Brown Bottrell Insurance. The bank's initial predecessor, The Jackson Bank, was chartered by the State of Mississippi in 1889. |
| 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. |
| Liquidity risk | Liquidity risk is a financial risk that for a certain period of time a given financial asset, security or commodity cannot be traded quickly enough in the market without impacting the market price.\n\n\n== Types ==\nMarket liquidity – An asset cannot be sold due to lack of liquidity in the market – essentially a sub-set of market risk. |
| Interest | In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay the lender or some third party. |
| Floating interest rate | A floating interest rate, also known as a variable or adjustable rate, refers to any type of debt instrument, such as a loan, bond, mortgage, or credit, that does not have a fixed rate of interest over the life of the instrument.Floating interest rates typically change based on a reference rate (a benchmark of any financial factor, such as the Consumer Price Index). One of the most common reference rates to use as the basis for applying floating interest rates is the London Inter-bank Offered Rate, or LIBOR (the rates at which large banks lend to each other).The rate for such debt will usually be referred to as a spread or margin over the base rate: for example, a five-year loan may be priced at the six-month LIBOR + 2.50%. |
| Partial derivative | In mathematics, a partial derivative of a function of several variables is its derivative with respect to one of those variables, with the others held constant (as opposed to the total derivative, in which all variables are allowed to vary). Partial derivatives are used in vector calculus and differential geometry. |
| Covariant derivative | In mathematics, the covariant derivative is a way of specifying a derivative along tangent vectors of a manifold. Alternatively, the covariant derivative is a way of introducing and working with a connection on a manifold by means of a differential operator, to be contrasted with the approach given by a principal connection on the frame bundle – see affine connection. |
| Derivative work | In copyright law, a derivative work is an expressive creation that includes major copyrightable elements of an original, previously created first work (the underlying work). The derivative work becomes a second, separate work independent in form from the first. |
| Risk Factors |
|---|
| SOUTH FINANCIAL GROUP INC Item 1A Risk Factors TSFG is susceptible to certain risk factors that may affect its operations, as well as the market price of its common stock |
| Some of the specific risk factors include the following items |
| TSFG has experienced significant growth in commercial real estate loans, which were 41dtta7prca of total loans at December 31, 2005, compared to 40dtta0prca and 36dtta0prca at December 31, 2004 and 2003, respectively |
| This concentration is high relative to that of many banks, in particular banks in markets not experiencing strong population growth |
| Also, the majority of our loans finance properties located on the coast of South Carolina and Florida, regions susceptible to hurricanes |
| Hence, exposure to potential changes in real estate market conditions—due to changing economics or catastrophic weather—is relatively high |
| Risk management and quality control processes designed to manage exposure to these uncertainties are in place; however, a material decline in commercial real estate market conditions in one or more of TSFG’s markets could adversely impact the loan portfolios of those markets |
| (See Tables 2, 3, and 4 under “Balance Sheet Review” for additional information on loan portfolio concentrations |
| ) TSFG has a lower level of core deposits and a higher level of wholesale funding, relative to its peer institutions |
| Over the past several years, TSFG has experienced significant growth in loans, particularly commercial and commercial real estate loans |
| Because its deposits have not grown at similar rates, TSFG has necessarily had to fund its loan growth with wholesale borrowings |
| During an environment when interest rates are rising and the related curve is flattening, this causes wholesale borrowing costs to increase disproportionately to loan yields |
| This results in less net interest income |
| TSFG has experienced significant growth through acquisitions, which could, in some circumstances, adversely affect net income |
| TSFG has experienced significant growth in assets as a result of acquisitions |
| Moreover, TSFG anticipates engaging in selected acquisitions of financial institutions and assets in the future |
| There are risks associated with TSFG’s acquisition strategy that could adversely impact net income |
| These risks include, among others, incorrectly assessing the asset quality of a particular institution being acquired, encountering greater than anticipated costs of incorporating acquired businesses into TSFG and being unable to profitably deploy funds acquired in an acquisition |
| Furthermore, we can give no assurance about the extent that TSFG can continue to grow through acquisitions |
| Any future acquisitions would be accounted for using the purchase method of accounting |
| Acquisitions accounted for by the purchase method of accounting may lower the capital ratios of the entities involved |
| Consequently, in the event that TSFG engages in significant acquisitions in the future, TSFG may be required to raise additional capital in order to maintain capital levels required by its regulators |
| In the future, TSFG may issue capital stock in connection with additional acquisitions |
| These acquisitions and related issuances of stock may have a dilutive effect on earnings per share and ownership |
| TSFG does not currently have any definitive understandings or agreements for any acquisitions material to TSFG However, as noted above, TSFG anticipates that it will continue to expand by acquisition in the future |
| TSFG has various anti-takeover measures that could impede the takeover of TSFG TSFG has various anti-takeover measures in place, some of which are listed below |
| Any one or more of these measures may impede the takeover of TSFG without the approval of TSFG’s board of directors and may prevent shareholders from taking part in a transaction in which shareholders could realize a premium over the current market price of TSFG common stock |
| The anti-takeover measures include various charter provisions providing for, among other things, a “staggered” board of directors and supermajority voting requirements in connection with the removal of directors without cause and certain business combinations involving TSFG TSFG has certain geographic concentrations |
| Substantially all of TSFG’s loans were to borrowers located in TSFG’s market areas in South Carolina, North Carolina, and Florida |
| Industry concentrations parallel the mix of economic activity in these markets, the most significant of which are the commercial real estate and tourism industries |
| Commercial construction and development loans represent the largest component of commercial real estate loan product types |
| 9 _________________________________________________________________ [62]Table of Contents TSFG’s ability to maintain its historic performance will depend on the ability to expand the scope of its existing financial services to customers |
| TSFG competes, and will continue to compete, with well established banks, credit unions, insurance companies and other financial institutions, some of which have greater resources and lending limits than TSFG Some of these competitors may also provide certain services that TSFG does not provide |
| TSFG’s controls and procedures may fail or be circumvented |
| Controls and procedures are particularly important for financial institutions |
| Management regularly reviews and updates our internal controls, disclosure controls and procedures, and corporate governance policies and procedures |
| Any system of controls, however well designed and operated, is based in part on certain assumptions and can provide only reasonable, not absolute, assurances that the objectives of the system are met |
| Any failure or circumvention of our controls and procedures or failure to comply with regulations related to controls and procedures could have a material adverse effect on our business, results of operations and financial condition |
| TSFG’s information systems may experience an interruption or breach in security |
| We rely heavily on communications and information systems to conduct our business |
| Any failure, interruption or breach in security of these systems could result in failures or disruptions in our customer relationship management, general ledger, deposit, loan and other systems |
| The occurrence of any failures, interruptions or security breaches of our information systems could damage our reputation, result in a loss of customer business, subject us to additional regulatory scrutiny, or expose us to civil litigation and possible financial liability, any of which could have a material adverse effect on our financial condition and results of operations |
| TSFG continually encounters technological change |
| The financial services industry is continually undergoing rapid technological change with frequent introductions of new technology-driven products and services |
| The effective use of technology increases efficiency and enables financial institutions to better serve customers and to reduce costs |
| Our future success depends, in part, upon our ability to address the needs of our customers by using technology to provide products and services that will satisfy customer demands, as well as to create additional efficiencies in our operations |
| Our largest competitors have substantially greater resources to invest in technological improvements |
| We may not be able to effectively implement new technology-driven products and services or be successful in marketing these products and services to our customers |
| Failure to successfully keep pace with technological change affecting the financial services industry could have a material adverse impact on our business and, in turn, our financial condition and results of operations |
| TSFG is subject to liquidity risk |
| Market conditions or other events could negatively affect the level or cost of liquidity, affecting our ongoing ability to accommodate liability maturities and deposit withdrawals, meet contractual obligations, and fund asset growth and new business transactions at a reasonable cost, in a timely manner and without adverse consequences |
| Any substantial, unexpected and/or prolonged change in the level or cost of liquidity could have a material adverse effect on our financial condition and results of operations |
| Additional information regarding liquidity risk is included in the section captioned “Liquidity” |
| TSFG is subject to interest rate risk |
| Our earnings and cash flows are largely dependent upon our net interest income |
| Net interest income is the difference between interest income earned on interest-earning assets such as loans and securities and interest expense paid on interest-bearing liabilities such as deposits and borrowed funds, as well as the impact of certain derivative hedging instruments |
| Interest rates are highly sensitive to many factors that are beyond our control, including general economic conditions and policies of various governmental and regulatory agencies and, in particular, the Federal Reserve Board |
| Changes in monetary policy, including changes in interest rates, could influence not only the amount of interest we receive on loans and securities and the amount of interest we pay on deposits and borrowings, but such changes could also affect our ability to originate loans and obtain deposits as well as the fair value of our financial assets and liabilities |
| If the interest we pay on deposits and other borrowings increases at a faster rate than the interest we receive on loans and other investments, our net interest income, and therefore earnings, could be adversely affected |
| Earnings could also be adversely affected if the interest we receive on loans and other investments fall more quickly than the interest we pay on deposits and other borrowings |
| Additional information regarding interest rate risk is included in the section captioned “Enterprise Risk Management — Market Risk and Asset/Liability Management” |
| TSFG has credit and market risk resulting from the use of derivatives |
| We use derivatives to manage our exposure to interest rate risk, to generate profits from trading and to assist our customers with their risk management objectives |
| Derivatives used for interest rate risk management include various interest rate swaps, options, and futures contracts |
| Options and futures contracts typically have indices that relate to the pricing of specific on-balance sheet instruments and forecasted transactions and may be more speculative in nature |
| By using derivative instruments, TSFG is exposed to credit and market risk |
| Derivative credit 10 _________________________________________________________________ [63]Table of Contents risk, which is the risk that a counterparty to a derivative instrument will fail to perform, is equal to the extent of the fair value gain in a derivative |
| Derivative credit risk is created when the fair value of a derivative contract is positive, since this generally indicates that the counterparty owes us |
| Market risk is the adverse effect on the value of a financial instrument from a change in interest rates or implied volatility of rates |
| TSFG is exposed to credit risk in its lending activities |
| There are inherent risks associated with our lending and trading activities |
| Loans to individuals and business entities, our single largest asset group, depend for repayment on the willingness and ability of borrowers to perform as contracted |
| A material adverse change in the ability of a significant portion of our borrowers to meet their obligations to us, due to changes in economic conditions, interest rates, natural disasters, acts of war, or other causes over which we have no control, could adversely impact the ability of borrowers to repay outstanding loans or the value of the collateral securing these loans, and could have a material adverse impact on our earnings and financial condition |
| We also are subject to various laws and regulations that affect our lending activities |
| Failure to comply with applicable laws and regulations could subject us to regulatory enforcement action that could result in the assessment against us of civil money or other penalties |