COMPREHENSIVE INCOME (LOSS)

6 Months Ended

Jun. 30, 2020

COMPREHENSIVE INCOME (LOSS)

COMPREHENSIVE INCOME (LOSS)

13.COMPREHENSIVE INCOME (LOSS)

Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities are reported as a separate component of the stockholders’ equity section of the Consolidated Balance Sheets, such items, along with net income, are components of comprehensive income (loss).

The components of accumulated other comprehensive income (loss), included in stockholders’ equity, are as follows:

	June 30,		December 31,
	2020		2019
	(in thousands)
Cash flow hedge:
Net unrealized gain	$	(1,762)	$	—
Related tax effect		493		—
Total accumulated other comprehensive income	$	(1,269)	$	—
Securities available for sale:
Net unrealized gain	$	5,435	$	1,899
Related tax effect		(1,269)		(419)
Total accumulated other comprehensive income	$	4,166	$	1,480

The following tables present changes in accumulated other comprehensive income (loss) by component for the three months ended June 30, 2020 and 2019:

	Three Months Ended June 30,
	2020						2019
	Available		Cash				Available
	for Sale		Flow				for Sale
	Securities		Hedge		Total		Securities
	(in thousands)
Balance at beginning of period	$	4,258	$	—	$	4,258	$	130
Other comprehensive income (loss) before reclassifications		(471)		(1,613)		(2,084)		2,980
Amounts reclassified from accumulated other comprehensive income (loss)		(8)		(149)		(157)		(1,267)
Net current period other comprehensive income (loss)		(479)		(1,762)		(2,241)		1,713
Related tax effect		387		493		880		(377)
Balance at end of period	$	4,166	$	(1,269)	$	2,897	$	1,466

	Six Months Ended June 30,
	2020						2019
	Available		Cash				Available
	for Sale		Flow				for Sale
	Securities		Hedge		Total		Securities
	(in thousands)
Balance at beginning of period	$	1,480	$	—	$	1,480	$	(2,358)
Other comprehensive income (loss) before reclassifications		5,547		(1,613)		3,934		6,171
Amounts reclassified to accumulated other comprehensive income for transfer of securities to available for sale		522		—		522		(1,267)
Amounts reclassified from accumulated other comprehensive income (loss)		(2,533)		(149)		(2,682)		—
Net current period other comprehensive income (loss)		3,536		(1,762)		1,774		4,904
Related tax effect		(850)		493		(357)		(1,080)
Balance at end of period	$	4,166	$	(1,269)	$	2,897	$	1,466