RECENT ACCOUNTING STANDARDS UPDATES ("ASU") (Tables)

6 Months Ended

Jun. 30, 2023

RECENT ACCOUNTING STANDARDS UPDATES ("ASU")

Schedule of the effect of the adoption of the ASU

		January 1, 2023
		As Reported Under ASU 2016-13		Pre- ASU 2016-13 Adoption		Impact of ASU 2016-13 Adoption
Assets:
Allowance For Credit Losses	$	(7,155)	$	(8,274)	$	1,119
Deferred Income Taxes		8,925		9,129		(204)	A
Liabilities:
Other Liabilities		9,446		9,299		147	B
Equity:
Retained Earnings		101,480		100,712		768	C

A. Effect on deferred tax assets related to the adjustment to the allowance for credit losses and reserve for unfunded lending commitments from the adoption of ASU 2016-13 using a 21% tax rate

B. Adjustment to the reserve for unfunded lending commitments related to the adoption of ASU 2016-13

C. Adjustment to undistributed profits related to the adoption of ASU 2016-13