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Note 1 - Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]

Consolidated Balance Sheet
(Dollar amounts in thousands except for per share amounts)
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 Income
For the year ending December 31, 2020		As Reported				Adjustment				As Revised
Compensation and benefits		$	22,065			$	790			$	22,855
Total noninterest expense			40,846				790				41,636
Income before income tax expense			19,496				(790	)			18,706
Income tax expenses			2,892				(118	)			2,774
Net income			16,604				(672	)			15,932
Earnings per common share:
Basic			4.80				(0.20	)			4.60
Diluted			4.80				(0.20	)			4.60

Consolidated Statements of Comprehensive Income
For the year ending December 31, 2020		As Reported				Adjustment				As Revised
Net income		$	16,604			$	(672	)		$	15,932
Comprehensive income, net of tax			22,784				(672	)			22,112

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 year ending December 31, 2020
Net income			16,604				(672	)			15,932
Retained earnings			112,494				(1,233	)			111,261
Total equity			152,922				(1,233	)			151,689

Consolidated Statements of Cash Flows
Year ended December 31, 2020		As Reported				Adjustment				As Revised
Net income		$	16,604			$	(672	)		$	15,932
Deferred tax expense			690				(118	)			572
Net cash - operating activities			20,526				(790	)			19,736
Net change in loan			(49,196	)			790				(48,406	)
Net cash - investing activities			(185,850	)			790				(185,060	)

X

- 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=124431687&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=124431687&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=124431687&loc=d3e22658-107794

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- References

No definition available.

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