Note 7 - New Accounting Pronouncements	9 Months Ended
Sep. 30, 2017
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Note 7: New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014 - 09, (Topic 606 ): Revenue from Contracts with Customers (“ASU 2014 - 09” ). The scope of the guidance applies to revenue arising from contracts with customers, except for the following: lease contracts, insurance contracts, contractual rights and obligations within the scope of other guidance and nonmonetary exchanges between entities in the same line of business to facilitate sales to customers. The core principle of the new guidance is that an entity should recognize revenue to reflect the transfer of goods and services to customers in an amount equal to the consideration that the entity receives or expects to receive. ASU 2014 - 09 is not expected to significantly impact the timing or approach to revenue recognition for financial institutions. Initially, the amendments were effective for public entities for annual reporting periods beginning after December 15, 2016, however, the FASB issued ASU 2015 - 14 Revenue from Contracts with Customers (Topic 606 ) – Deferral of the Effective Date ” which deferred the effective date of ASU 2014 - 09 by one year to annual and interim periods beginning after December 15, 2017. The guidance does not apply to revenue associated with financial instruments, including loans and securities that are accounted for under GAAP, which comprises a significant portion of our revenue stream. As the Company plans to adopt the new guidance in the first quarter of 2018, it is currently evaluating the impact of adopting ASU 2014 - 09 on its consolidated financial statements, but at this time do not believe the standard will have a significant impact on the financial statements, other than the required new disclosures. In January 2016, the FASB issued ASU 2016 - 01, Financial Instruments- Overall (Subtopic 825 - 10 ): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016 - 01” ). ASU 2016 - 01 simplifies the impairment assessment of equity investments, clarifies reporting disclosure requirements for financial instruments measured at amortized cost, and requires the exit price notion be disclosed when measuring fair value of financial instruments. ASU 2016 - 01 details the required separate presentation in other comprehensive income for the change in fair value of a liability related to change in instrument specific credit risk and details the required separate presentation of financial assets and liabilities by measurement category, and clarifies the guidance for a valuation allowance on deferred tax assets related to available-for-sale securities. ASU 2016 - 01 is effective for annual and interim reporting periods beginning after December 15, 2017. Adoption of ASU 2016 - 01 is not expected to have a material impact on our consolidated financial statements. In February 2016, the FASB issued ASU 2016 - 02, Leases (“ASU 2016 - 02” ). ASU 2016 - 02 establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. ASU 2016 - 02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is currently evaluating the impact of our pending adoption of the new standard on our consolidated financial statements in relation to the Company ’s new leased headquarters that will be put into place during the fourth quarter of 2017. The Company expects to record a right of use asset and related liability for the present value of the lease payments. In March 2016, the FASB issued ASU 2016 - 09, Compensation-Stock Compensation (Topic 718 ): Improvements to Employee Share-Based Payment Accounting . The purpose of the update was to simplify the accounting for share-based payment transactions, including the income tax consequences of such transactions. Under the provisions of the update the income tax consequences of excess tax benefits and deficiencies are to be recognized in income tax expense in the reporting period in which the awards vest. Previously, excess tax benefits or deficiencies impact stockholders’ equity directly to the extent there was a cumulative excess tax benefit. In the event that a tax deficiency had occurred during the reporting period and a cumulative excess tax benefit did not exist, the tax deficiency was recognized in income tax expense under previous GAAP. The update also provided that entities may continue to estimate forfeitures in accounting for stock based compensation or recognize them as they occur. The provisions of this update became effective for interim and annual periods beginning after December 15, 2016. The adoption of this amendment did not have a material impact on the Company’s financial position, results of operations or cash flows. In June 2016, the FASB issued ASU 2016 - 13, Financial Instruments-Credit Losses (Topic 326 ): Measurement of Credit Losses on Financial Instruments . Among other things, the amendments in this ASU require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. For SEC filers, the amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with later effective dates for non-SEC registrant public companies and other organizations. Early adoption will be permitted for all organizations for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company is currently evaluating the provisions of ASU No. 2016 - 13 to determine the potential impact the new standard will have on the Company’s consolidated financial statements, and it is too early at this time to determine the impact on the financial statements. In August 2016, the FASB issued ASU 2016 - 15, Statement of Cash Flows (Topic 230 ): Classification of Certain Cash Receipts and Cash Payments. The update is intended to reduce the diversity in practice around how certain transactions are classified within the statement of cash flows with respect to eight types of cash flows. This new accounting guidance will be effective for interim and annual reporting periods beginning after December 15, 2017. Adoption of ASU 2016 - 15 is not expected to have a material impact on our consolidated financial statements. In March 2017, the FASB issued ASU 2017 - 08, Receivables-Nonrefundable Fees and Other Costs (Subtopic) 310 - 20 ): Premium Amortization of Purchased Callable Debt Securities . The amendments in this ASU shorten the amortization period for certain callable debt securities held at a premium. The amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The amendment will be effective for interim and annual reporting periods beginning after December 15, 2018. The Company elected to early adopt ASU 2017 - 08 during 2017 and it did not have a significant effect on our consolidated financial statements. In May 2017, the FASB issued ASU 2017 - 09, Compensation-Stock Compensation (Subtopic 718 ): Scope of Modification Accounting. ASU 2017 - 09 clarifies when changes to terms or conditions of a share-based payment award must be accounted for as a modification. Under the new guidance, an entity will not apply modification accounting to a share-based payment award if all of the following are the same immediately before and after the change: (i) the fair value of the award, (ii) the vesting conditions of the award, and (iii) the classification of the award as either an equity or liability instrument. ASU 2017 - 09 is effective for the fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. The guidance requires companies to apply the requirements prospectively to awards modified on or after the adoption date. ASU 2017 - 09 is not expected to have a significant impact on our consolidated financial statements. In July 2017, the FAS B issued ASU 2017 - 11, Earnings Per Share (Topic 260 ); Distinguishing Liabilities from Equity (Topic 480 ); Derivatives and Hedging (Topic 815 ): (Part 1 ) Accounting for certain financial instruments with down round features and (Part II), Replacement of the indefinite deferral for mandatory redeemable financial instruments of certain nonpublic entities and certain mandatory redeemable non-controlling interests with a scope exception . Part I of the update addresses the complexity of accounting for certain financial instruments with down round features such as warrants or convertible instruments and will be effective for interim and annual reporting periods beginning after December 15, 2019. The Company is currently evaluating the impact of our pending adoption of the new standard on our consolidated financial statements, but at this time do not believe the standard will have a significant impact on the financial statements. In August 2017, the FASB issued ASU 2017 - 12, Derivatives and Hedging (Topic 815 ): Targeted improvements to accounting for hedging activities . The purpose of this updated guidance is to better align financial reporting for hedging activities with the economic objectives of those activities. The amendments in this update are effective for fiscal years beginning after December 15, 2018, with early adoption, including adoption in an interim period, permitted. The standard requires the modified retrospective transition approach as of the date of adoption. The Company is currently evaluating the impact that this standard will have on its Consolidated Financial Statements.

Note

New Accounting Pronouncements

May 2014,

the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”)

2014

09,

(Topic

606

Revenue from Contracts with Customers

(“ASU

2014

09”

). The scope of the guidance applies to revenue arising from contracts with customers, except for the following: lease contracts, insurance contracts, contractual rights and obligations within the scope of other guidance and nonmonetary exchanges between entities in the same line of business to facilitate sales to customers. The core principle of the new guidance is that an entity should recognize revenue to reflect the transfer of goods and services to customers in an amount equal to the consideration that the entity receives or expects to receive. ASU

2014

not

expected to significantly impact the timing or approach to revenue recognition for financial institutions. Initially, the amendments were effective for public entities for annual reporting periods beginning after

December 15, 2016,

however, the FASB issued ASU

2015

Revenue from Contracts with Customers (Topic

606

) – Deferral of the Effective Date

” which deferred the effective date of ASU

2014

one

year to annual and interim periods beginning after

December 15, 2017.

The guidance does

not

apply to revenue associated with financial instruments, including loans and securities that are accounted for under GAAP, which comprises a significant portion of our revenue stream. As the Company plans to adopt the new guidance in the

first

quarter of

2018,

it is currently evaluating the impact of adopting ASU

2014

on its consolidated financial statements, but at this time do

not

believe the standard will have a significant impact on the financial statements, other than the required new disclosures.

January 2016,

the FASB issued ASU

2016

01,

Financial Instruments- Overall (Subtopic

825

Recognition and Measurement of Financial Assets and Financial Liabilities

(“ASU

2016

01”

). ASU

2016

simplifies the impairment assessment of equity investments, clarifies reporting disclosure requirements for financial instruments measured at amortized cost, and requires the exit price notion be disclosed when measuring fair value of financial instruments. ASU

2016

details the required separate presentation in other comprehensive income for the change in fair value of a liability related to change in instrument specific credit risk and details the required separate presentation of financial assets and liabilities by measurement category, and clarifies the guidance for a valuation allowance on deferred tax assets related to available-for-sale securities. ASU

2016

is effective for annual and interim reporting periods beginning after

December 15, 2017.

Adoption of ASU

2016

not

expected to have a material impact on our consolidated financial statements.

February 2016,

the FASB issued ASU

2016

02,

Leases

(“ASU

2016

02”

). ASU

2016

establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than

months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. ASU

2016

is effective for fiscal years beginning after

December 15, 2018,

including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available.

The Company is currently evaluating the impact of our pending adoption of the new standard on our consolidated financial statements in relation to the Company

’s new leased headquarters that will be put into place during the

fourth

quarter of

2017.

The Company expects to record a right of use asset and related liability for the present value of the lease payments.

March 2016,

the FASB issued ASU

2016

09,

Compensation-Stock Compensation (Topic

718

Improvements to Employee Share-Based Payment Accounting

. The purpose of the update was to simplify the accounting for share-based payment transactions, including the income tax consequences of such transactions. Under the provisions of the update the income tax consequences of excess tax benefits and deficiencies are to be recognized in income tax expense in the reporting period in which the awards vest. Previously, excess tax benefits or deficiencies impact stockholders’ equity directly to the extent there was a cumulative excess tax benefit. In the event that a tax deficiency had occurred during the reporting period and a cumulative excess tax benefit did

not

exist, the tax deficiency was recognized in income tax expense under previous GAAP. The update also provided that entities

may

continue to estimate forfeitures in accounting for stock based compensation or recognize them as they occur. The provisions of this update became effective for interim and annual periods beginning after

December 15, 2016.

The adoption of this amendment did

not

have a material impact on the Company’s financial position, results of operations or cash flows.

June 2016,

the FASB issued ASU

2016

13,

Financial Instruments-Credit Losses (Topic

326

Measurement of Credit Losses on Financial Instruments

. Among other things, the amendments in this ASU require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. For SEC filers, the amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after

December 15, 2019,

with later effective dates for non-SEC registrant public companies and other organizations. Early adoption will be permitted for all organizations for fiscal years, and interim periods within those fiscal years, beginning after

December 15, 2018.

The Company is currently evaluating the provisions of ASU

No.

2016

to determine the potential impact the new standard will have on the Company’s consolidated financial statements, and it is too early at this time to determine the impact on the financial statements.

August 2016,

the FASB issued ASU

2016

15,

Statement of Cash Flows (Topic

230

Classification of Certain Cash Receipts and Cash Payments.

The update is intended to reduce the diversity in practice around how certain transactions are classified within the statement of cash flows with respect to

eight

types of cash flows. This new accounting guidance will be effective for interim and annual reporting periods beginning after

December 15, 2017.

Adoption of ASU

2016

not

expected to have a material impact on our consolidated financial statements.

March 2017,

the FASB issued ASU

2017

08,

Receivables-Nonrefundable Fees and Other Costs (Subtopic)

310

Premium Amortization of Purchased Callable Debt Securities

The amendments in this ASU shorten the amortization period for certain callable debt securities held at a premium. The amendments require the premium to be amortized to the earliest call date. The amendments do

not

require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The amendment will be effective for interim and annual reporting periods beginning after

December 15, 2018.

The Company elected to early adopt ASU

2017

during

2017

and it did

not

have a significant effect on our consolidated financial statements.

May 2017,

the FASB issued ASU

2017

09,

Compensation-Stock Compensation (Subtopic

718

Scope of Modification Accounting.

ASU

2017

clarifies when changes to terms or conditions of a share-based payment award must be accounted for as a modification. Under the new guidance, an entity will

not

apply modification accounting to a share-based payment award if all of the following are the same immediately before and after the change: (i) the fair value of the award, (ii) the vesting conditions of the award, and (iii) the classification of the award as either an equity or liability instrument. ASU

2017

is effective for the fiscal years, and interim periods within those fiscal years, beginning after

December 15, 2017.

The guidance requires companies to apply the requirements prospectively to awards modified on or after the adoption date. ASU

2017

not

expected to have a significant impact on our consolidated financial statements.

July 2017,

the FAS

B issued ASU

2017

11,

Earnings Per Share (Topic

260

); Distinguishing Liabilities from Equity (Topic

480

); Derivatives and Hedging (Topic

815

(Part

) Accounting for certain financial instruments with down round features and (Part II), Replacement of the indefinite deferral for mandatory redeemable financial instruments of certain nonpublic entities and certain mandatory redeemable non-controlling interests with a scope exception

. Part I of the update addresses the complexity of accounting for certain financial instruments with down round features such as warrants or convertible instruments and will be effective for interim and annual reporting periods beginning after

December 15, 2019.

The Company is currently evaluating the impact of our pending adoption of the new standard on our consolidated financial statements, but at this time do

not

believe the standard will have a significant impact on the financial statements.

August 2017,

the FASB

issued ASU

2017

12,

Derivatives and Hedging (Topic

815

Targeted improvements to accounting for hedging activities

The purpose

of this updated guidance is to better align financial reporting for hedging activities with the economic objectives of those activities. The amendments in this update are effective for fiscal years beginning after

December 15, 2018,

with early adoption, including adoption in an interim period, permitted. The standard requires the modified retrospective transition approach as of the date of adoption. The Company is currently evaluating the impact that this standard will have on its Consolidated Financial Statements.