Two broken series, opposite meanings
At the FY2025 year-end, a reported line disappeared from its XBRL tag at both ServisFirst Bancshares (SFBS) and Curaleaf (CURLF). To a raw feed the two look identical — the data stopped. They are opposites: one is a harmless re-tag to ignore, the other an unresolved break to read.
Every figure below is what the Disclosure Continuity engine returned, source-linked to the SEC accession and reproducible as of the build date (knowledge version kv_2026_08_21). The engine adjudicates the difference; the analyst reads only the one that warrants it.
SFBS — a re-tag, fully explained → IGNORE
Two loan-book lines left their tags at the 2025-12-31 year-end and both continued under a single successor concept. The exposure did not move; only its tag did.
| Prior tag (gone) | Value | Successor tag (verified) |
|---|---|---|
| NotesReceivableGross | $12.61bn | FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss |
| NotesReceivableNet | $12.44bn |
That is 71% and 70% of total assets ($17.73bn) — the largest line on the balance sheet — yet nothing economic happened. The successor was structurally verified, so the engine resolves it RESOLVED / IGNORE. Source: FY2025 10-K, accession 0001171843-26-001150.
The one thing worth knowing: gross and net now collapse into one tag, so a naïve XBRL pull of SFBS loan balances silently switches from two series to one at 2025-12-31. The engine tells you that without making you read the filing.
CURLF — no successor, cannot be established → READ
A single concept worth $1.75bn stopped at the 2025-12-31 year-end, and the engine found no successor tag at all — not a weak match, zero candidates.
| Prior tag (gone) | Value | Successor | Scale |
|---|---|---|---|
| ContractualObligation | $1.75bn | none found | 61% of assets · 138% of revenue |
The engine classifies this UNRESOLVED / READ, evidence tier NONE, coverage INDETERMINATE — the text-verification step did not run, so it is flagged because it cannot be explained from structured data, not because anything is known to be wrong. A human must read the filing. Source: FY2025 annual filing, accession 0001756770-26-000019.
READ is a workflow instruction — “this one needs a person” — not an economic verdict. It does not imply misconduct or a bearish signal. Absence of a structured explanation is not evidence of wrongdoing.
Why this is the product
Both companies looked identical to a machine-readable feed and to an LLM reading it cold: a series that stopped. The value is the adjudicated difference — SFBS suppressed from the analyst's desk with evidence, CURLF surfaced to it with a reason — and that every call is traceable to an accession and reproducible on any past date. Keep Bloomberg for the numbers; use Disclosure Continuity to know when the reporting structure underneath them changed, and whether it matters.
Practices
Contact
- tnk@newwaycapital.com
- +41 76 381 47 48
- Geneva, Switzerland
Figures are as reported to the SEC and adjudicated by Disclosure Continuity as of the stated knowledge version. This is a data and intelligence service, not investment advice; no outcome is a recommendation to buy or sell any security. A READ outcome indicates a filing warrants human review, nothing more.