The reduction is “primarily” from a lower value of net deferred tax assets, the bank said in a securities filing Friday, the same day President Trump signed the legislation.

The Wisconsin-based corporate credit union will pay out a 7 percent return to members, a new record for the CU.

The company will set aside more than $10 million, with most of the provision addressing an issue with a commercial loan.

The company said it will lay off more than a dozen employees in a move that reflects the current volume of mortgage loan originations.

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The company also said it is likely that tax reform legislation being considered by Congress would substantially reduce the valuation of its deferred-tax asset.

Executives at small banks are wary about 2018 as concerns about lackluster loan demand, low yields and rising deposit prices abound.

Canadian Imperial Bank of Commerce said it expects earnings contributions from its U.S. businesses to almost double to 17 percent in the next three years as the lender integrates its acquisition of Chicago-based PrivateBancorp.

It’s only early December, but bank CEOs’ comments this week about tax reform, their thirst for deposits, consumer lending initiatives, and challenges in commercial lending offer a sneak peek at what’s coming when earnings season begins next month.

The business faces a difficult comparison to last year, when activity spiked after Donald Trump’s surprising presidential election win, executives at the companies said.