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Note 1 - Basis of Financial Statement Presentation (Tables)

6 Months Ended

Jun. 30, 2016

Notes Tables

Schedule of Change in Accounting Estimate [Table Text Block]

		Three Months Ended June 30, 2016												Six Months Ended June 30, 2016
		Previously Reported				Adjustment				Restated				Previously Reported				Adjustment				Restated
		(in thousands, except shares and per share amounts)
Provision for loan losses		$	-			$	1,959			$	1,959			$	-			$	1,959			$	1,959
Income before income taxes			1,011				(1,959	)			(948	)			2,082				(1,959	)			123
(Benefit) expense for income taxes			397				(763	)			(366	)			815				(763	)			52
Net income			614				(1,196	)			(582	)			1,267				(1,196	)			71
Total comprehensive income (loss)			650				(1,196	)			(546	)			1,338				(1,196	)			142
Basic and diluted income per share		$	0.16			$	(0.31	)		$	(0.15	)		$	0.32			$	(0.30	)		$	0.02
Consolidated Statement of Cash Flows:
Net income			N/A				N/A				N/A				1,267				(1,196	)			71
Provision for loan losses			N/A				N/A				N/A				-				1,959				1,959
Deferred income taxes			N/A				N/A				N/A				646				(762	)			(117	)

		As of June 30, 2016
		Previously Reported				Adjustment				Restated
Loans receivable, net of allowance for loan losses		$	523,404			$	(1,959	)		$	521,445
Deferred tax asset			13,073				763				13,836
Total assets			653,055				1,196				651,859
Accumulated deficit			(43,565	)			(1,196	)			(44,761	)
Total shareholders' equity			66,110				(1,196	)			61,914

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- Definition

Tabular disclosure of the change in an accounting estimate, including a change that occurs in an interim period. If a change in accounting estimate affects several future periods (for example, a change in the service life of a depreciable asset) disclose the effect on income from continuing operations, net income (or other appropriate captions of changes in the applicable net assets or performance indicator), and any related per-share amounts of the current period. Disclosure of the effects of a change in an accounting estimate that occurs in the ordinary course of business (such as uncollectible accounts or inventory obsolescence) is not required, unless the effect is material.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e777-108305

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 45
-Paragraph 18
-URI http://asc.fasb.org/extlink&oid=6368906&loc=d3e21843-107793

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22595-107794

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(a)(5))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

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- References

No definition available.

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