Quarterly report pursuant to Section 13 or 15(d)

Note 1 - Basis of Presentation (Tables)

v3.21.2
Note 1 - Basis of Presentation (Tables)
6 Months Ended
Jun. 30, 2021
Notes Tables  
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]

Consolidated Balance Sheet

                       
                         

As of December 31, 2020

 

As Reported

   

Adjustment

   

As Revised

 

Loans receivable

  $ 966,578     $ (1,432 )   $ 965,146  
Net loans receivable     954,120       (1,432 )     952,688  

Other assets

    13,681       199       13,880  

Total assets

    1,497,525       (1,233 )     1,496,292  

Retained earnings

    112,494       (1,233 )     111,261  

Total shareholders' equity

    152,922       (1,233 )     151,689  

Total liabilities and Stockholders' equity

    1,497,525       (1,233 )     1,496,292  

Consolidated Statement of Operations

                       
                         

Three months ended June 30, 2020

 

As Reported

   

Adjustment

   

As Revised

 

Compensation and benefits

  $ 5,371     $ 249     $ 5,620  

Total noninterest expense

    9,764       249       10,013  

Income before income tax expense

    6,189       (249 )     5,940  

Income tax expenses

    1,126       (37 )     1,089  

Net income

    5,063       (212 )     4,851  

Earnings per common share:

                       

Basic

    1.46       (0.06 )     1.40  

Diluted

    1.46       (0.06 )     1.40  

Six months ended June 30, 2020

 

As Reported

   

Adjustment

   

As Revised

 

Compensation and benefits

  $ 10,588     $ 342     $ 10,930  

Total noninterest expense

    19,763       342       20,105  

Income before income tax expense

    9,893       (342 )     9,551  

Income tax expenses

    1,638       (51 )     1,587  

Net income

    8,255       (291 )     7,964  

Earnings per common share:

                       

Basic

    2.39       (0.09 )     2.30  

Diluted

    2.39       (0.09 )     2.30  

Consolidated Statements of Comprehensive Income

                 
                         

Three months ended June 30, 2020

 

As Reported

   

Adjustment

   

As Revised

 

Net income

  $ 5,063     $ (212 )   $ 4,851  

Comprehensive income, net of tax

    5,491       (212 )     5,279  

Six months ended June 30, 2020

 

As Reported

   

Adjustment

   

As Revised

 

Net income

  $ 8,255     $ (291 )   $ 7,964  

Comprehensive income, net of tax

    13,108       (291 )     12,817  

Consolidated Statements of Changes in Stockholders' Equity

         
                         

Balance at January 1, 2020

 

As Reported

   

Adjustment

   

As Revised

 

Retained earnings

  $ 100,185     $ (561 )   $ 99,624  

Total equity

    134,103       (561 )     133,542  
                         

For the quarter ending March 31, 2020

                       

Net income

    3,192       (79 )     3,113  

Retained earnings

    102,303       (640 )     101,663  

Total equity

    140,655       (640 )     140,015  
                         

For the quarter ending June 30, 2020

                       

Net income

    5,063       (212 )     4,851  

Retained earnings

    106,293       (852 )     105,441  

Total equity

    145,181       (852 )     144,329  
                         

Balance at January 1, 2021

                       

Retained earnings

    112,494       (1,233 )     111,261  

Total equity

    152,922       (1,233 )     151,689  
                         

For the quarter ending March 31, 2021

                       

Net income

    4,679       (136 )     4,543  

Retained earnings

    116,094       (1,369 )     114,725  

Total equity

    150,139       (1,369 )     148,770  

Consolidated Statements of Cash Flows

                 
                         

Six months ended June 30, 2020

 

As Reported

   

Adjustment

   

As Revised

 

Net income

  $ 8,255     $ (291 )   $ 7,964  

Net change in other assets

    (1,657 )     (51 )     (1,708 )

Net cash - operating activities

    11,239       (342 )     10,897  

Net change in loan

    (70,553 )     342       (70,211 )

Net cash - investing activities

    (85,976 )     342       (85,634

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