2021 Illustrative Financial Statements for Financial Institutions Released

Financial statements are complex and banking and financial institutions are under added regulatory and stakeholder pressure to ensure accurate reporting, financial stability, and strict compliance. We’re here to help.

The Baker Newman Noyes Banking & Financial Services practice is pleased to release our 2021 Illustrative Financial Statements for Financial Institutions. We publish this tool annually to help banks and financial institutions make sense of their financial statements. The sample statements are updated for the year-ending December 31, 2021 and include:

  • Practical examples of common disclosures applicable to financial institutions as required under generally accepted accounting principles (GAAP)
  • The form and content requirements of the SEC
  • New and updated accounting pronouncements issued through November 23, 2021

We hope you find this tool useful as you prepare for your year-end close and annual financial reporting cycle.

For additional information relating to this publication or general year-end financial reporting matters contact: Jeff Skaggs, principal and banking practice lead or your BNN advisor.

Disclaimer of liability: This publication is provided as a reference tool to assist clients and friends when preparing their annual financial statements and should be used in combination with an evaluation of the facts and circumstances specific to the institution, reviews of the relevant authoritative guidance, and professional advice. It does not constitute accounting, tax, investment, or legal advice; nor is it intended to convey a thorough treatment of the subject matter.

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