Subsequent Events	12 Months Ended
Dec. 31, 2020
Subsequent Events
Subsequent Events	Note 21. Subsequent Events The Bank early adopted ASU 2016-13, Financial Instruments - Credit Losses (“ASC 326”) during the first quarter of 2021 based on the application of the modified retrospective method for all financial assets measured at amortized cost primarily loans receivable and off-balance sheet credit exposures. The standard replaced the “incurred loss” approach with an “expected loss” approach known as current expected credit loss (“CECL”). The CECL methodology requires an estimate of the credit losses expected over the life of an exposure and it removes the incurred loss methodology’s threshold that delayed the recognition of a credit loss until it was “probable” a loss event was deemed to be “incurred.” Results for reporting periods beginning after January 1, 2021 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable generally accepted accounting principles. The Company recorded a decrease to retained earnings of $1,140,848 as of January 1, 2021 for the cumulative effect of adopting ASC 326. The estimate of expected credit losses under the CECL methodology is based on relevant information about past events, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amounts. Historical loss experience is generally the starting point for estimating expected credit losses. We then consider whether the historical loss experience should be adjusted for asset-specific risk characteristics or current conditions at the reporting date that did not exist over the period from which historical experience was based. Finally, we consider forecasts about future economic conditions or changes in collateral values that are reasonable and supportable. Under ASC 326-30, the Bank is required to use an allowance approach when recognizing credit loss for its Available-For-Sale (“AFS”) debt securities and will replace the quarterly OTTI analysis that is performed (Note 3. Investment Securities). The allowance is measured as the difference between the investment security’s amortized cost basis and the amount expected to be collected over the investment security’s lifetime. Specifically, the length of time the security has been in an unrealized loss position will no longer be used to determine whether a credit loss exists. Impairment must be evaluated at the individual security level during each reporting period, through a comparison of the present value of expected cash flows from the security with the amortized cost basis of the security. Using this approach each quarter, the Bank will record impairment related to credit losses through earnings offset with an allowance for credit losses account.

Note 21. Subsequent Events

The Bank early adopted ASU 2016-13, Financial Instruments - Credit Losses (“ASC 326”) during the first quarter of 2021 based on the application of the modified retrospective method for all financial assets measured at amortized cost primarily loans receivable and off-balance sheet credit exposures. The standard replaced the “incurred loss” approach with an “expected loss” approach known as current expected credit loss (“CECL”). The CECL methodology requires an estimate of the credit losses expected over the life of an exposure and it removes the incurred loss methodology’s threshold that delayed the recognition of a credit loss until it was “probable” a loss event was deemed to be “incurred.” Results for reporting periods beginning after January 1, 2021 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable generally accepted accounting principles. The Company recorded a decrease to retained earnings of $1,140,848 as of January 1, 2021 for the cumulative effect of adopting ASC 326.

The estimate of expected credit losses under the CECL methodology is based on relevant information about past events, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amounts. Historical loss experience is generally the starting point for estimating expected credit losses. We then consider whether the historical loss experience should be adjusted for asset-specific risk characteristics or current conditions at the reporting date that did not exist over the period from which historical experience was based. Finally, we consider forecasts about future economic conditions or changes in collateral values that are reasonable and supportable.

Under ASC 326-30, the Bank is required to use an allowance approach when recognizing credit loss for its Available-For-Sale (“AFS”) debt securities and will replace the quarterly OTTI analysis that is performed (Note 3. Investment Securities). The allowance is measured as the difference between the investment security’s amortized cost basis and the amount expected to be collected over the investment security’s lifetime. Specifically, the length of time the security has been in an unrealized loss position will no longer be used to determine whether a credit loss exists. Impairment must be evaluated at the individual security level during each reporting period, through a comparison of the present value of expected cash flows from the security with the amortized cost basis of the security. Using this approach each quarter, the Bank will record impairment related to credit losses through earnings offset with an allowance for credit losses account.