Management’s Discussion and Analysis
TABLE OF CONTENTS Forward-Looking Statements...............................................17 Non-GAAP Measures...........................................................18
Other Assets and Other Liabilities..................................................35 Liquidity Management....................................................................36 Capital Management......................................................................38 Financial Instruments and Other Instruments................................41 Off-Balance Sheet...........................................................................42 Summary of Quarterly Results and Fourth Quarter.................42 Quarterly Results............................................................................42 Fourth Quarter of 2021...................................................................43 Accounting Policies and Estimates........................................43 Critical Accounting Estimates........................................................43 Changes In Accounting Policies and Financial Statement Presentation..............................................................45 Future Changes In Accounting Policies..........................................45 Risk Management...............................................................46 Top Emerged and Emerging Risks..................................................46 Risk Management Overview...........................................................47 Risk Universe - Report on Principal Risks........................................51 Other Risk Factors..........................................................................61 Share and Distribution Information.......................................62 Related Party Transactions...................................................62 Controls and Procedures.....................................................62
Who We Are.......................................................................19 Growth Strategy and Vision............................................................19
Strategic Transaction..........................................................19 Fiscal 2021 Strategic Highlights............................................20
Fiscal 2022 Strategic Priorities.............................................21 A Sustainable Path Forward............................................................21
CWB Financial Group Performance.......................................22 Select Financial Highlights.............................................................22 Summary of Operations..................................................................23 Fiscal 2022 Outlook .......................................................................24 Net Interest Income........................................................................25 Non-Interest Income.......................................................................26 Non-Interest Expenses and Efficiency Ratio...................................27 Income Taxes..................................................................................28 Comprehensive Income .................................................................28 Cash and Securities........................................................................29 Loans............................................................................................... 30 Credit Quality.................................................................................32 Deposits and Funding.....................................................................34
16 | CWB Financial Group 2021 Annual Report
Powered by FlippingBook