Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2023

Accumulated Other Comprehensive Income (Loss) [Abstract]

Accumulated Other Comprehensive Income (Loss)

8. Accumulated Other Comprehensive Income (Loss)

The activity in accumulated other comprehensive income (loss) for the three and six months ended June 30, 2023 and 2022 is as follows:

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (1) (2)

(DOLLARS IN THOUSANDS)

	Unrealized
	Gains (Losses)
	on Securities
	Available-for-Sale
	$
Balance at December 31, 2022		(48,292	)
Other comprehensive loss before reclassifications		7,335
Amount reclassified from accumulated other comprehensive income (loss)		324
Period change		7,659
Balance at March 31, 2023		(40,633	)
Other comprehensive loss before reclassifications		(1,365	)
Amount reclassified from accumulated other comprehensive income (loss)		754
Period change		(611	)
Balance at June 30, 2023		(41,244	)
Balance at December 31, 2021		3,441
Other comprehensive loss before reclassifications		(23,629	)
Amount reclassified from accumulated other comprehensive income (loss)		(110	)
Period change		(23,739	)
Balance at March 31, 2022		(20,298	)
Other comprehensive loss before reclassifications		(16,518	)
Amount reclassified from accumulated other comprehensive income (loss)		—
Period change		(16,518	)
Balance at June 30, 2022		(36,816	)

(1) All amounts are net of tax.  Related income tax expense or benefit is calculated using a Federal income tax rate of 21%.

(2) Amounts in parentheses indicate debits.  

DETAILS ABOUT ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) COMPONENTS (1)

(DOLLARS IN THOUSANDS)

	Amount Reclassified from
	Accumulated Other Comprehensive
	Income (Loss)
	For the Three Months
	Ended June 30,
	2023			2022		Affected Line Item in the
	$			$		Consolidated Statements of Income
Securities available-for-sale:
Net securities (losses) gains, reclassified into earnings		(954	)		—	(Losses) gains on the sale of debt securities, net
Related income tax benefit (expense)		200			—	Benefit/(Provision) for federal income taxes
Net effect on accumulated other comprehensive  income (loss) for the period		(754	)		—

(1) Amounts in parentheses indicate debits.

	Amount Reclassified from
	Accumulated Other Comprehensive
	Income (Loss)
	For the Six Months
	Ended June 30,
	2023			2022			Affected Line Item in the
	$			$			Consolidated Statements of Income
Securities available-for-sale:
Net securities (losses) gains, reclassified into earnings		(1,364	)		139		(Losses) gains on the sale of debt securities, net
Related income tax benefit (expense)		286			(29	)	Benefit/(Provision) for federal income taxes
Net effect on accumulated other comprehensive  income (loss) for the period		(1,078	)		110

(1) Amounts in parentheses indicate debits.