General (Policies)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation. In the opinion of management, the accompanying condensed consolidated financial statements of the Company contain all adjustments (consisting principally of normal recurring accruals) necessary to present fairly the financial position at September 30, 2024, the results of operations for the three and nine month periods ended September 30, 2024 and 2023, and the cash flow for the nine months ended September 30, 2024 and 2023 All significant intercompany accounts and transactions have been eliminated in consolidation. The results of operations for the three and nine months ended September 30, 2024, are not necessarily indicative of the results to be expected for the full year.

Comprehensive Income

Comprehensive Income. Generally Accepted Accounting Principles generally require that recognized revenue, expenses, gains and losses be included in net earnings. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale debt securities are reported as a separate component of the equity section of the condensed consolidated balance sheets, such items along with net earnings, are components of comprehensive income.

Accumulated other comprehensive loss consists of the following (in thousands):

	September 30,			December 31,
	2024			2023
Unrealized loss on debt securities available for sale	$	(6,012	)	$	(7,106	)
Unamortized portion of unrealized loss related to debt securities available for sale transferred to securities held-to-maturity		(12	)		(13	)
Income tax benefit		1,538			1,804
Accumulated other comprehensive loss	$	(4,486	)	$	(5,315	)