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Note 13 - Recent Accounting Pronouncements
 9 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]
Note 13:     Recent Accounting Pronouncements     
 
Recently Issued Accounting Standards Updates
 
ASU 2014-09:
In May 2014, the FASB issued ASU 2014-09,
Revenue from Contracts with Customers
. This update will replace all current U.S. GAAP related to revenue recognition and will eliminate all industry-specific guidance.
During 2016, the update was further clarified by ASU 2016-08
Revenue from Contracts with Customers: Principle versus Agent Considerations;
ASU
2016-10,
Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing
and ASU 2016-12
Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients.
In July 2015, the FASB affirmed its proposal to defer the effective date of this new standard. As a result, public companies will apply the new revenue standard to annual reporting periods beginning after December 15, 2017.
The Company is currently assessing the impact that this guidance will have on its consolidated financial statements, but does not expect a material impact on its financial condition or results of operations.
 
ASU 2016-01:
In January 2016, the FASB issued ASU 2016-01, 
Financial Instruments - Overall
. ASU 2016-01 requires cost-method equity investments to be measured at fair value with changes in fair value recognized in net income. The ASU simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, and a measurement of the investment at fair value only when an impairment is qualitatively identified to exist. The standard is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is not permitted. The Company is currently assessing the potential impact ASU 2016-01 will have on its financial statements, but does not expect a material impact on its financial condition or results of operations.
 
ASU 2016-02:
In February 2016, the FASB issued Accounting Standards Update ("ASU") No. 2016-02, 
Leases.
 This update increases transparency and comparability among organizations by requiring the recognition of leased assets and lease liabilities on the balance sheet, and the disclosure of key information about leasing arrangements. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact of the pending adoption of the new update on its consolidated financial statements.
 
ASU 2016-13
: In June 2016, the FASB issued ASU 2016-13,
Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments.
The standard changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recognized. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted for fiscal years beginning after December 15, 2018. The Company is currently evaluating the impact that the standard will have on its consolidated financial statements.
 
ASU 2016-1
5
: In August 2016, the FASB issued ASU 2016-15,
Statement of Cash Flows
:
Classification of Certain Cash Receipts and Cash Payments
.
The standard addresses the classification of certain specific transactions presented on the Statement of Cash Flow, in order to improve consistency across entities. Debt prepayment or extinguishment, debt-instrument settlement, contingent consideration payments post-business combination, beneficial interests in securitiszation transactions are specific items addressed by this Accounting Standards Update that may affect the Bank. Additionally, the Standard codifies the predominance principle for classifying separately identifiable cash flows. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact that the standard will have on its consolidated financial statements.