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RECENT ACCOUNTING PRONOUNCEMENTS (Tables)

9 Months Ended

Sep. 30, 2020

Accounting Standards Update and Change in Accounting Principle [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The following table illustrates the impact of ASC 326:

			January 1, 2020
(dollars in thousands)			As Reported Under ASC 326						Pre-ASC 326 Adoption						Impact of ASC 326 Adoption
Assets:
Allowance for credit losses on loans:
Commercial, financial & industrial			$	(7,509)					$	(8,136)					$	627
Real estate:
Construction			(2,271)						(1,792)						(479)
Residential mortgage			(13,935)						(13,327)						(608)
Home equity			(2,592)						(4,206)						1,614
Commercial mortgage			(13,737)						(11,113)						(2,624)
Consumer			(11,493)						(9,397)						(2,096)
Subtotal			$	(51,537)					$	(47,971)					$	(3,566)
Net deferred tax assets (included in other assets)			$	17,692					$	16,541					$	1,151
Liabilities:
Reserve for off-balance sheet credit exposures (included in other liabilities)			$	(2,012)					$	(1,272)					$	(740)
Equity:
Accumulated deficit			$	22,257					$	19,102					$	3,155

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- References

No definition available.

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- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
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-SubTopic 10
-Section 50
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