CAUTIONARY NOTE ABOUT FORWARD LOOKING STATEMENTS
This Annual Report on Form 10-K contains forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as “may,” “might,” “should,” “could,” “predict,” “potential,” “believe,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “strive,” “projection,” “goal,” “target,” “outlook,” “aim,” “would,” “annualized” and “outlook,” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements.
There are or will be important factors that could cause our actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to, the following:
| • | our ability to effectively execute our expansion strategy and manage our growth, including identifying and consummating suitable acquisitions; |
| • | business and economic conditions, particularly those affecting our market areas of Oklahoma, the Dallas/Fort Worth metropolitan area and Kansas, including a decrease in or the volatility of oil and gas prices or agricultural commodity prices within the region; |
| • | the geographic concentration of our markets in Oklahoma, the Dallas/Fort Worth metropolitan area and Kansas; |
| • | high concentrations of loans secured by real estate and energy located in our market areas; |
| • | risks associated with our commercial loan portfolio, including the risk for deterioration in value of the general business assets that secure such loans; |
| • | risks related to the significant amount of credit that we have extended to a limited number of borrowers; |
| • | our ability to maintain our reputation; |
| • | our ability to successfully manage our credit risk and the sufficiency of our allowance; |
| • | reinvestment risks associated with a significant portion of our loan portfolio maturing in one year or less; |
| • | our ability to attract, hire and retain qualified management personnel; |
| • | our dependence on our management team, including our ability to retain executive officers and key employees and their customer and community relationships; |
| • | interest rate fluctuations, which could have an adverse effect on our profitability; |
| • | competition from banks, credit unions and other financial services providers; |
| • | system failures, service denials, cyber-attacks and security breaches; |
| • | our ability to maintain effective internal control over financial reporting; |
| • | employee error, fraudulent activity by employees or customers and inaccurate or incomplete information about our customers and counterparties; |
| • | increased capital requirements imposed by banking regulators, which may require us to raise capital at a time when capital is not available on favorable terms or at all; |
| • | costs and effects of litigation, investigations or similar matters to which we may be subject, including any effect on our reputation; |
| • | severe weather, acts of god, acts of war, pandemics or terrorism; |
| • | compliance with governmental and regulatory requirements; |
| • | changes in the laws, rules, regulations, interpretations or policies relating to financial institutions, accounting, tax, trade, monetary and fiscal matters, including the policies of the Federal Reserve and as a result of initiatives of the current and future administrations; and |
| • | other factors that are discussed in the section entitled “Risk Factors,” beginning on page 10. |
The foregoing factors should not be construed as exhaustive and should be read together with the other cautionary statements included in this report. Because of these risks and other uncertainties, our actual future results, performance or achievements, or industry results, may be materially different from the results indicated by the forward-looking statements in this report. In addition, our past results of operations are not necessarily indicative of our future results. Accordingly, no forward-looking statements should be relied upon, which represent our beliefs, assumptions and estimates only as of the dates on which such forward-looking statements were made. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
