Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] |
Consolidated Balance Sheet |
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(Dollar amounts in thousands except for per share amounts) |
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As of December 31, 2020 |
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As Reported |
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Adjustment |
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As Revised |
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Loans receivable |
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$ |
966,578 |
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$ |
(1,432 |
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$ |
965,146 |
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Net loans receivable |
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954,120 |
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(1,432 |
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952,688 |
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Other assets |
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13,681 |
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199 |
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13,880 |
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Total assets |
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1,497,525 |
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(1,233 |
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1,496,292 |
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Retained earnings |
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112,494 |
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(1,233 |
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111,261 |
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Total shareholders' equity |
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152,922 |
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(1,233 |
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151,689 |
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Total liabilities and stockholders' equity |
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1,497,525 |
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(1,233 |
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1,496,292 |
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Consolidated Statement of Income |
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For the year ending December 31, 2020 |
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As Reported |
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Adjustment |
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As Revised |
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Compensation and benefits |
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$ |
22,065 |
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$ |
790 |
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$ |
22,855 |
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Total noninterest expense |
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40,846 |
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790 |
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41,636 |
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Income before income tax expense |
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19,496 |
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(790 |
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18,706 |
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Income tax expenses |
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2,892 |
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(118 |
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2,774 |
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Net income |
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16,604 |
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(672 |
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15,932 |
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Earnings per common share: |
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Basic |
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4.80 |
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(0.20 |
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4.60 |
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Diluted |
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4.80 |
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(0.20 |
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4.60 |
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Consolidated Statements of Comprehensive Income |
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For the year ending December 31, 2020 |
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As Reported |
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Adjustment |
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As Revised |
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Net income |
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$ |
16,604 |
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$ |
(672 |
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$ |
15,932 |
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Comprehensive income, net of tax |
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22,784 |
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(672 |
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22,112 |
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Consolidated Statements of Changes in Stockholders' Equity |
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Balance at January 1, 2020 |
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As Reported |
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Adjustment |
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As Revised |
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Retained earnings |
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$ |
100,185 |
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$ |
(561 |
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$ |
99,624 |
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Total equity |
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134,103 |
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(561 |
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133,542 |
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For the year ending December 31, 2020 |
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Net income |
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16,604 |
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(672 |
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15,932 |
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Retained earnings |
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112,494 |
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(1,233 |
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111,261 |
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Total equity |
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152,922 |
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(1,233 |
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151,689 |
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Consolidated Statements of Cash Flows |
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Year ended December 31, 2020 |
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As Reported |
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Adjustment |
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As Revised |
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Net income |
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$ |
16,604 |
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$ |
(672 |
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$ |
15,932 |
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Deferred tax expense |
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690 |
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(118 |
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572 |
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Net cash - operating activities |
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20,526 |
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(790 |
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19,736 |
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Net change in loan |
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(49,196 |
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790 |
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(48,406 |
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Net cash - investing activities |
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(185,850 |
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790 |
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(185,060 |
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