George Guarini, Founder, President, and Chief Executive Officer of the Company, stated, “Our financial performance for the third quarter of 2023 remained resilient despite the challenges confronting the banking industry. Similar to other banks, we experienced some pressure on our net interest margin, but this appears to have eased somewhat in the recent quarter. During the quarter, we proactively bolstered our loan loss reserves, primarily in response to specific loans. On the whole, our credit quality remains solid, and we have not identified any systemic credit issues within our loan portfolio.”
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