“The challenging environment including rising cost of deposits and persistent inflation are impacting interest and operating expenses. The Company is not immune to these challenges, but our Company is well positioned to navigate it,” said James J. Kim, President and CEO. “The strength of our Company has long been demonstrated by its 43-year track record of conservative business practices, its focus on relationships and stability in deposit base,” continued Kim. “To reinforce that strength, the Company will continue to invest in our team, facilities and technologies while maintaining our commitment to exceptional client service Bank-wide. Our team’s unfaltering focus on client success has been most gratifying, particularly during this past quarter.”
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