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RESTATEMENT OF THE CONSOLIDATED FINANCIAL STATEMETNS (Tables) | 6 Months Ended
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Dec. 31, 2020
RESTATEMENT OF THE CONSOLIDATED FINANCIAL STATEMENTS |
Schedule of the effects of the Restatement of the Company's consolidated financial statements | The table below shows the effects of the Restatement on the Company’s consolidated statement of operations, consolidated statement of comprehensive loss and consolidated statement of cash flows for the six months ended December 31, 2019 (in thousands, except for per share data).
|  | For the Six Months Ended December 31, 2019
|  | As Previously |  | Restatement |  |
|  | Reported |  | Adjustments |  | As Restated
Consolidated Statement of Operations |  |  |  |  |  |  |  |  |
Net interest income |  | $ | 25,811 |  | $ | — |  | $ | 25,811
Provision for loan losses |  |  | 17,890 |  |  | (15,800) |  |  | 2,090
Net interest income after provision for loan losses |  |  | 7,921 |  |  | 15,800 |  |  | 23,721
Total noninterest income |  |  | 9,375 |  |  | — |  |  | 9,375
Total noninterest expense |  |  | 29,836 |  |  | — |  |  | 29,836
Income (loss) before income taxes |  |  | (12,540) |  |  | 15,800 |  |  | 3,260
Income tax expense (benefit) |  |  | (3,706) |  |  | 4,093 |  |  | 387
Net income (loss) |  |  | (8,834) |  |  | 11,707 |  |  | 2,873
Earnings (loss) per common share: |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.35) |  | $ | 0.47 |  | $ | 0.12
Diluted |  | $ | (0.35) |  | $ | 0.47 |  | $ | 0.12
Consolidated Statement of Comprehensive Income (Loss): |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | (8,834) |  | $ | 11,707 |  | $ | 2,873
Comprehensive income (loss) |  |  | (8,584) |  |  | 11,707 |  |  | 3,123
Consolidated Statement of Cash Flows: |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | (8,834) |  | $ | 11,707 |  | $ | 2,873
Adjustments to reconcile net income (loss) to net cash provided by operating activities: |  |  |  |  |  |  |  |  |
Provision for loan losses |  |  | 17,890 |  |  | (15,800) |  |  | 2,090
Increase in other assets |  |  | (4,979) |  |  | 4,093 |  |  | (886)

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794 + Details
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