US GAAP requires that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income.

The components of other comprehensive income (loss) both before tax and net of tax are as follows:



	Three Months Ended June 30,
	2021						2020

	(In Thousands)

	Before		Tax		Net of		Before		Tax		Net of
	Tax		Effect		Tax		Tax		Effect		Tax
Change in accumulated other comprehensive income:
Unrealized holding gains on securities ‎ available for sale	$	133	$	(28)	$	105	$	413	$	(87)	$	326
Reclassification adjustments for gains on securities ‎ transactions included in net income (A),(B)		-		-		-		(128)		27		(101)
Total other comprehensive income	$	133	$	(28)	$	105	$	285	$	(60)	$	225



	Six Months Ended June 30,
	2021						2020

	(In Thousands)

	Before		Tax		Net of		Before		Tax		Net of
	Tax		Effect		Tax		Tax		Effect		Tax
Change in accumulated other comprehensive (loss) income:
Unrealized holding (losses) gains on securities ‎ available for sale	$	(2,413)	$	507	$	(1,906)	$	2,216	$	(465)	$	1,751
Reclassification adjustments for gains on securities ‎ transactions included in net income (A),(B)		(24)		5		(19)		(128)		27		(101)
Total other comprehensive (loss) income	$	(2,437)	$	512	$	(1,925)	$	2,088	$	(438)	$	1,650

A.Realized gains on securities transactions included in gain on sales of securities in the accompanying Consolidated Statements of Income.

B.Tax effect included in income tax expense in the accompanying Consolidated Statements of Income.

A summary of the realized gains on securities available for sale, net of tax, are as follows:


	Three Months Ended
	June 30,
		2021		2020

		(In Thousands)
Securities available for sale:
Realized gains on securities transactions	$	-	$	(128)
Income taxes		-		27
Net of tax	$	-	$	(101)



	Six Months Ended
	June 30,
		2021		2020

		(In Thousands)
Securities available for sale:
Realized gains on securities transactions	$	(24)	$	(128)
Income taxes		5		27
Net of tax	$	(19)	$	(101)

A summary of the accumulated other comprehensive income net of tax, is as follows:



	Securities
	Available
	for Sale
Three Months Ended June 30, 2021 and 2020	(In Thousands)
Balance March 31, 2021	$	907
Other comprehensive income before reclassifications		105
Amounts reclassified from accumulated other ‎ comprehensive income		-
Net other comprehensive income during the period		105
Balance June 30, 2021	$	1,012

Balance March 31, 2020	$	2,765
Other comprehensive income before reclassifications		326
Amounts reclassified from accumulated other ‎ comprehensive income		(101)
Net other comprehensive income during the period		225
Balance June 30, 2020	$	2,990


Six Months Ended June 30, 2021 and 2020
Balance January 1, 2021	$	2,937
Other comprehensive loss before reclassifications		(1,906)
Amounts reclassified from accumulated other ‎ comprehensive income		(19)
Net other comprehensive loss during the period		(1,925)
Balance June 30, 2021	$	1,012

Balance January 1, 2020	$	1,340
Other comprehensive income before reclassifications		1,751
Amounts reclassified from accumulated other ‎ comprehensive income		(101)
Net other comprehensive income during the period		1,650
Balance June 30, 2020	$	2,990