2
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our ability to successfully manage credit risk and maintain an adequate level of allowance for loan losses; |
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new or revised accounting standards, including as a result of the implementation of the new Current Expected Credit Loss standard; |
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business and economic conditions generally and in the financial services industry, nationally and within our market areas; |
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the overall health of the local and national real estate market; |
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concentrations within our loan portfolio; |
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the level of nonperforming assets on our balance sheet; |
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our ability to implement our organic and acquisition growth strategies; |
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the impact of economic or market conditions on our fee-based services; |
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our ability to continue to grow our retirement and benefit services business; |
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our ability to continue to originate a sufficient volume of residential mortgages; |
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the occurrence of fraudulent activity, breaches or failures of our information security controls or cybersecurity-related incidents; |
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interruptions involving our information technology and telecommunications systems or third-party servicers; |
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potential losses incurred in connection with mortgage loan repurchases; |
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the composition of our executive management team and our ability to attract and retain key personnel; |
3
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rapid technological change in the financial services industry; |
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increased competition in the financial services industry; our ability to successfully manage liquidity risk; |
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the effectiveness of our risk management framework; |
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the commencement and outcome of litigation and other legal proceedings and regulatory actions against us or to which we may become subject; |
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potential impairment to the goodwill we recorded in connection with our past acquisitions; |
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the extensive regulatory framework that applies to us; |
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the impact of recent and future legislative and regulatory changes; |
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interest rate risks associated with our business; |
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fluctuations in the values of the securities held in our securities portfolio; |
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governmental monetary, trade and fiscal policies; |
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severe weather, natural disasters, widespread disease or pandemics, acts of war or terrorism or other adverse external events; |
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any material weaknesses in our internal control over financial reporting; |
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our success at managing the risks involved in the foregoing items; and |
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any other risks described in the “Risk Factors” section of this report and in other reports filed by Alerus Financial Corporation with the Securities and Exchange Commission. |