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.

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December 31,

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January 1,

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January 1,

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2019

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2020

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2020

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​

As Previously Reported (Incurred Loss)

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Impact of CECL Adoption

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As Reported Under CECL

Assets:

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​

​

​

​

​

Loans

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​

​

​

​

​

Commercial

$

30,941

$

6,184

$

37,125

Consumer

​

11,353

​

41,300

​

52,653

Allowance for loan and lease losses

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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