Note 3 - Recent Accounting Pronouncements	3 Months Ended
Mar. 31, 2019
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	3. Recent Accounting Pronouncemen ts Accounting Standards to be adopted in Future Periods ASU 2016 - 13, Measurement of Credit Losses on Financial Instruments (Topic 326 ), was issued in June 2016 to replace the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This standard will become effective for fiscal years beginning after December 15, 2019. The Company is evaluating the impact of the adoption of this standard. ASU 2017 - 08, Receivables-Nonrefundable Fees and Other Costs (Sub-topic 310 - 20 ): Premium Amortization on Purchased Callable Debt Securities, was issued in March 2017 to shorten the amortization period for certain purchased callable debt securities held at a premium. It requires the premium to be amortized over the period until the earliest call date. The amendment does not make any changes for securities held at a discount. The new guidance will be effective for public business entities for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted, including adoption in an interim period. The Company is evaluating the impact of the adoption of this standard. ASU 2018 - 13, Fair Value Measurement (Topic 820 ) , was issued in August 2018 as part of the disclosure framework project to improve the effectiveness of the disclosures in the notes to the financial statements. The amendments in this update modify the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement. The new guidance will be effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company is evaluating the impact of the adoption of this standard. Recently Adopted Accounting Guidance ASU 2016 - 02, Leases (Topic 842 ) , was issued in February 2016, with subsequent amendments, to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing information about leasing arrangements. The standard requires lessees to recognize the assets and liabilities arising from operational leases on the balance sheet. The Company adopted this standard on January 1, 2019 using a modified retrospective approach and recognized its lease agreements as a right-of-use asset with a corresponding lease liability to reflect the present value of the future lease payments. Accordingly, the new leasing standard was applied prospectively in the Company’s financial statements from January 1, 2019 forward and reported financial information for historical comparable periods was not revised and will continue to be reported under the accounting standards in effect during those historical periods. Additionally upon adoption the Company elected the package of practical expedients for leases that commenced before the date of adoption in which the Company was not required to reassess (i) whether any existing or expired contracts contain leases, (ii) the lease classification of existing or expired leases, and (iii) initial direct costs of existing or expired leases. On January 1, 2019, the Company recognized $23.6 million as an operating lease right-of-use asset and $29.3 million as an operating lease liability on the Consolidated Statements of Financial Condition related to its leasing obligations. As of March 31, 2019, the Company carried a $22.1 million operating lease right-of-use asset and a $27.5 million operating lease liability on the Consolidated Statements of Financial Condition related to its leasing obligations.

Recent Accounting Pronouncemen

Accounting Standards to be adopted in Future Periods

ASU

2016

13,

Measurement of Credit Losses on Financial Instruments (Topic

326

was issued in

June 2016

to replace the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This standard will become effective for fiscal years beginning after

December 15, 2019.

The Company is evaluating the impact of the adoption of this standard.

ASU

2017

08,

Receivables-Nonrefundable Fees and Other Costs (Sub-topic

310

): Premium Amortization on Purchased Callable Debt Securities,

was issued in

March 2017

to shorten the amortization period for certain purchased callable debt securities held at a premium. It requires the premium to be amortized over the period until the earliest call date. The amendment does

not

make any changes for securities held at a discount. The new guidance will be effective for public business entities for fiscal years beginning after

December 15, 2019,

and interim periods within fiscal years beginning after

December 15, 2020.

Early adoption is permitted, including adoption in an interim period. The Company is evaluating the impact of the adoption of this standard.

ASU

2018

13,

Fair Value Measurement (Topic

820

)

, was issued in

August 2018

as part of the disclosure framework project to improve the effectiveness of the disclosures in the notes to the financial statements. The amendments in this update modify the disclosure requirements on fair value measurements in Topic

820,

Fair Value Measurement. The new guidance will be effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after

December 15, 2019.

The Company is evaluating the impact of the adoption of this standard.

Recently Adopted Accounting Guidance

ASU

2016

02,

Leases (Topic

842

)

, was issued in

February 2016,

with subsequent amendments, to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing information about leasing arrangements. The standard requires lessees to recognize the assets and liabilities arising from operational leases on the balance sheet. The Company adopted this standard on

January 1, 2019

using a modified retrospective approach and recognized its lease agreements as a right-of-use asset with a corresponding lease liability to reflect the present value of the future lease payments. Accordingly, the new leasing standard was applied prospectively in the Company’s financial statements from

January 1, 2019

forward and reported financial information for historical comparable periods was

not

revised and will continue to be reported under the accounting standards in effect during those historical periods. Additionally upon adoption the Company elected the package of practical expedients for leases that commenced before the date of adoption in which the Company was

not

required to reassess (i) whether any existing or expired contracts contain leases, (ii) the lease classification of existing or expired leases, and (iii) initial direct costs of existing or expired leases. On

January 1, 2019,

the Company recognized

$23.6

million as an operating lease right-of-use asset and

$29.3

million as an operating lease liability on the Consolidated Statements of Financial Condition related to its leasing obligations. As of

March

31,

2019,

the Company carried a

$22.1

million operating lease right-of-use asset and

$27.5

million operating lease liability on the Consolidated Statements of Financial Condition related to its leasing obligations.