Iowa First Bancshares Corp. reported revised earnings results for the year ended December 31, 2017. Net income of $2,398,000 for the year ended December 31, 2017, was $400,000 less than originally reported. This revision was attributable to higher provision for loan losses which was recognized retroactive to September 30, 2018. The revised full year net income of $2,398,000 compared favorably to net income of $1,430,000 for the year ended December 31, 2016. The increase in net income year-over-year of $968,000 (67.7%) resulted mainly from an increase in net interest income of $576,000 and a decrease of $4,498,000 in noninterest expense. This decrease in noninterest expense year-over-year was largely the result of a loss on a legal settlement which was included in 2016 noninterest expense. Partially offsetting these improvements was an increase in provision for loan losses of $2,283,000, reduction of $506,000 in noninterest interest income, and an increase of $1,317,000 in income tax expense. Return on Average Equity was 5.2% as at December 31, 2017 against 3.1% a year ago. Return on Average assets was 0.50% as at December 31, 2017 against 0.30% a year ago. Basic and diluted net income per common share was $2.12 against $1.27 a year ago.