Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] |
Consolidated Balance Sheet |
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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 Operations |
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Three months ended June 30, 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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$ |
5,371 |
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$ |
249 |
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$ |
5,620 |
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Total noninterest expense |
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9,764 |
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249 |
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10,013 |
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Income before income tax expense |
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6,189 |
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(249 |
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5,940 |
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Income tax expenses |
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1,126 |
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(37 |
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1,089 |
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Net income |
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5,063 |
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(212 |
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4,851 |
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Earnings per common share: |
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Basic |
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1.46 |
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(0.06 |
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1.40 |
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Diluted |
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1.46 |
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(0.06 |
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1.40 |
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Six months ended June 30, 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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$ |
10,588 |
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$ |
342 |
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$ |
10,930 |
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Total noninterest expense |
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19,763 |
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342 |
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20,105 |
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Income before income tax expense |
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9,893 |
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(342 |
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9,551 |
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Income tax expenses |
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1,638 |
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(51 |
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1,587 |
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Net income |
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8,255 |
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(291 |
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7,964 |
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Earnings per common share: |
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Basic |
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2.39 |
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(0.09 |
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2.30 |
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Diluted |
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2.39 |
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(0.09 |
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2.30 |
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Consolidated Statements of Comprehensive Income |
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Three months ended June 30, 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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$ |
5,063 |
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$ |
(212 |
) |
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$ |
4,851 |
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Comprehensive income, net of tax |
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5,491 |
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(212 |
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5,279 |
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Six months ended June 30, 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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$ |
8,255 |
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$ |
(291 |
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$ |
7,964 |
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Comprehensive income, net of tax |
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13,108 |
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(291 |
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12,817 |
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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 quarter ending March 31, 2020 |
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Net income |
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3,192 |
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(79 |
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3,113 |
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Retained earnings |
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102,303 |
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(640 |
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101,663 |
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Total equity |
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140,655 |
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(640 |
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140,015 |
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For the quarter ending June 30, 2020 |
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Net income |
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5,063 |
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(212 |
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4,851 |
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Retained earnings |
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106,293 |
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(852 |
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105,441 |
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Total equity |
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145,181 |
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(852 |
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144,329 |
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Balance at January 1, 2021 |
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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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For the quarter ending March 31, 2021 |
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Net income |
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4,679 |
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(136 |
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4,543 |
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Retained earnings |
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116,094 |
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(1,369 |
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114,725 |
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Total equity |
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150,139 |
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(1,369 |
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148,770 |
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Consolidated Statements of Cash Flows |
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Six months ended June 30, 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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$ |
8,255 |
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$ |
(291 |
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$ |
7,964 |
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Net change in other assets |
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(1,657 |
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(51 |
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(1,708 |
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Net cash - operating activities |
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11,239 |
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(342 |
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10,897 |
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Net change in loan |
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(70,553 |
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342 |
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(70,211 |
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Net cash - investing activities |
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(85,976 |
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342 |
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(85,634 |
) |
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