We offer a wide range of deposit products for business banking and retail markets. It was incorporated in November 1993 and opened for business in June 1994. Such risks can be significantly affected by economic conditions. HBC also receives reciprocal deposits from other participating financial institutions. These consolidation trends are likely to continue. For a discussion of capital requirements, see "Regulatory Capital Requirements" above. Acquisitions, Activities and Change in Control. FHLB stock is carried at cost and classified as a restricted security. Both cash and stock dividends are reported as income. The primary source of funds for HCC is dividends from HBC. See "—Regulatory Capital Requirements" above. Safety and Soundness Standards/Risk Management. Anti-Money Laundering and Office of Foreign Assets Control Regulation. The CPRA is set to become effective on January 1, 2023.Cybersecurity. Our most important source of funds consists of our customer deposits. We also may borrow from third-party lenders from time to time. Reforms to and uncertainty regarding LIBOR may adversely affect our business. Commercial loans often involve risks that are different from other types of lending. Generally, we sell the guaranteed portion of our SBA 7(a) loans in the secondary market. We originated $29.3 million of SBA loans for the year ended December 31, 2020. We must effectively manage our branch growth strategy. We also may experience a lag in profitability associated with new branch openings. New lines of business or new products and services may subject us to additional risks.
