RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
Mar. 31, 2017
RECENT ACCOUNTING PRONOUNCEMENTS
RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 2: RECENT ACCOUNTING PRONOUNCEMENTS Accounting Standards Update (“ASU”) 2014-09 – Revenue from Contracts with Customers – In May 2014, the Financial Accounting Standards Board (“FASB”) amended existing guidance related to revenue from contracts with customers. This amendment supersedes and replaces nearly all existing revenue recognition guidance, including industry-specific guidance, establishes a new control-based revenue recognition model, changes the basis for deciding when revenue is recognized over time or at a point in time, provides new and more detailed guidance on specific topics and expands and improves disclosures about revenue. In addition, this amendment specifies the accounting for some costs to obtain or fulfill a contract with a customer. This amendment was originally effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. In July 2015, the FASB issued ASU 2015-14, which deferred the effective date to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Early adoption is permitted as of the original effective date. The amendments should be applied retrospectively to all periods presented or retrospectively with the cumulative effect recognized at the date of initial application. We believe these new requirements do not impact our interest income, as our financial instruments are not within the scope of this standard. We continue to evaluate the impact on our fee based income. ASU 2016-02 – Leases – In February 2016, the FASB released this Update to increase the transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. For lessees, all leases will be required to be recognized on the balance sheet by recording a right-of-use asset and a lease liability. The accounting applied by a lessor is largely unchanged from that applied under the existing guidance. The ASU requires additional qualitative and quantitative disclosures with the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The guidance is effective for fiscal years beginning after December 15, 2018, including the interim periods. The Company is currently evaluating the impact of this new requirement on the consolidated financial statements, but the expectation is that this new requirement will result in a significant increase to assets for the right-of-use asset recognition and a significant increase to total liabilities for the lease liability. ASU 2016-09 – Stock Compensation – In March 2016, the FASB issued this Update which includes multiple amendments intended to simplify aspects of share-based payment accounting, and was effective for us on January 1, 2017. The guidance simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification of excess tax benefits in the consolidated statements of cash flows. Excess tax benefits or deficiencies for stock-based compensation are now reflected in the Consolidated Statements of Income as a component of income tax expense, whereas previously they were recognized in equity. The adoption of ASU 2016-09 did not have a material impact on our consolidated financial statements. ASU 2016-13 – Credit Losses – In June 2016, the FASB released this Update to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in this Update replace the incurred loss impairment methodology in current GAAP 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. The amendments in this Update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently evaluating the impact of this new requirement on the consolidated financial statements. ASU 2017-04 – Intangibles: Goodwill and Other – In January 2017, the FASB amended existing guidance to simplify the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Instead, an entity should perform its annual goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount recognizing an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value (the “Goodwill Update”). The option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary is still available. A public business entity that is a SEC filer should adopt the amendments in this Goodwill Update for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates on or after January 1, 2017. The Company is evaluating the impact of these amendments on its consolidated financial statements, but it is not expected to have a significant impact. ASU 2017-06 – Plan Accounting: Defined Benefit Pension Plans – In March 2017, the FASB amended existing guidance to improve the presentation of net periodic pension cost and net periodic postretirement benefit cost (the “Pension and Postretirement Benefit Cost Update”). This Pension and Postretirement Benefit Cost Update requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. Additionally, the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. If a separate line item or items are used to present the other components of net benefit cost, that line item or items must be appropriately described. If a separate line item or items are not used, the line item or items used in the income statement to present the other components of net benefit cost must be disclosed. This Pension and Postretirement Benefit Cost Update also allows only the service cost component to be eligible for capitalization when applicable. This Pension and Postretirement Benefit Cost Update is effective for public business entities for annual periods beginning after December 15, 2017, including interim periods within those annual periods. The Company is evaluating the impact of these amendments on its consolidated financial statements.

NOTE 2: RECENT ACCOUNTING PRONOUNCEMENTS

Accounting Standards Update (“ASU”) 2014-09 – Revenue from Contracts with Customers – In May 2014, the Financial Accounting Standards Board (“FASB”) amended existing guidance related to revenue from contracts with customers. This amendment supersedes and replaces nearly all existing revenue recognition guidance, including industry-specific guidance, establishes a new control-based revenue recognition model, changes the basis for deciding when revenue is recognized over time or at a point in time, provides new and more detailed guidance on specific topics and expands and improves disclosures about revenue. In addition, this amendment specifies the accounting for some costs to obtain or fulfill a contract with a customer.

This amendment was originally effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. In July 2015, the FASB issued ASU 2015-14, which deferred the effective date to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Early adoption is permitted as of the original effective date. The amendments should be applied retrospectively to all periods presented or retrospectively with the cumulative effect recognized at the date of initial application. We believe these new requirements do not impact our interest income, as our financial instruments are not within the scope of this standard. We continue to evaluate the impact on our fee based income.

ASU 2016-02 – Leases – In February 2016, the FASB released this Update to increase the transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. For lessees, all leases will be required to be recognized on the balance sheet by recording a right-of-use asset and a lease liability. The accounting applied by a lessor is largely unchanged from that applied under the existing guidance. The ASU requires additional qualitative and quantitative disclosures with the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The guidance is effective for fiscal years beginning after December 15, 2018, including the interim periods. The Company is currently evaluating the impact of this new requirement on the consolidated financial statements, but the expectation is that this new requirement will result in a significant increase to assets for the right-of-use asset recognition and a significant increase to total liabilities for the lease liability.

ASU 2016-09 – Stock Compensation – In March 2016, the FASB issued this Update which includes multiple amendments intended to simplify aspects of share-based payment accounting, and was effective for us on January 1, 2017. The guidance simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification of excess tax benefits in the consolidated statements of cash flows. Excess tax benefits or deficiencies for stock-based compensation are now reflected in the Consolidated Statements of Income as a component of income tax expense, whereas previously they were recognized in equity. The adoption of ASU 2016-09 did not have a material impact on our consolidated financial statements.

ASU 2016-13 – Credit Losses – In June 2016, the FASB released this Update to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in this Update replace the incurred loss impairment methodology in current GAAP 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. The amendments in this Update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently evaluating the impact of this new requirement on the consolidated financial statements.

ASU 2017-04 – Intangibles: Goodwill and Other – In January 2017, the FASB amended existing guidance to simplify the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Instead, an entity should perform its annual goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount recognizing an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value (the “Goodwill Update”). The option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary is still available. A public business entity that is a SEC filer should adopt the amendments in this Goodwill Update for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates on or after January 1, 2017. The Company is evaluating the impact of these amendments on its consolidated financial statements, but it is not expected to have a significant impact.

ASU 2017-06 – Plan Accounting: Defined Benefit Pension Plans – In March 2017, the FASB amended existing guidance to improve the presentation of net periodic pension cost and net periodic postretirement benefit cost (the “Pension and Postretirement Benefit Cost Update”). This Pension and Postretirement Benefit Cost Update requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. Additionally, the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. If a separate line item or items are used to present the other components of net benefit cost, that line item or items must be appropriately described. If a separate line item or items are not used, the line item or items used in the income statement to present the other components of net benefit cost must be disclosed. This Pension and Postretirement Benefit Cost Update also allows only the service cost component to be eligible for capitalization when applicable. This Pension and Postretirement Benefit Cost Update is effective for public business entities for annual periods beginning after December 15, 2017, including interim periods within those annual periods. The Company is evaluating the impact of these amendments on its consolidated financial statements.