Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.22.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2021
Accounting Standards Update 2016-13  
Illustration of the Impact of ASC 326

The following table illustrates the impact of ASC 326.

December 31,

January 1,

January 1,

2019

2020

2020

As Previously Reported (Incurred Loss)

Impact of CECL Adoption

As Reported Under CECL

Assets:

Loans

Commercial

$

30,941

$

6,184

$

37,125

Consumer

11,353

41,300

52,653

Allowance for loan and lease losses

42,294

47,484

89,778

Liabilities:

Allowance for credit losses on unfunded credit exposure

900

4,160

5,060

Total Allowance for credit losses

$

43,194

$

51,644

$

94,838