Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2024

Disclosure Of Other Comprehensive Income Loss [Abstract]

Other Comprehensive Income (Loss)

11.Other Comprehensive Income (Loss)

The Company reports certain items as “other comprehensive income or loss” and reflects total accumulated other comprehensive loss (“AOCI”) in the consolidated financial statements for all periods containing elements of other comprehensive income or loss. The following table presents a reconciliation of the changes in the components of other comprehensive income or loss for the dates indicated, including the amount of income tax expense or benefit allocated to each component of other comprehensive income or loss:

	Three Months Ended September 30,
Reclassification Adjustments	2024			2023			Affected Line Item in Consolidated Statements of Income (Loss)
	(Dollars in thousands)
Net amortization of bond premiums	$	146		$	222		Interest on debt securities
Tax effect		(39	)		(60	)	Income tax benefit
		107			162		Net income (loss)
Net interest income on swaps		(21	)		—		Interest on deposits
Tax effect		6			—		Income tax benefit
		(15	)		—		Net income (loss)
Total reclassification adjustments	$	92		$	162
	Nine Months Ended September 30,
Reclassification Adjustments	2024			2023			Affected Line Item in Consolidated Statements of Income (Loss)
	(Dollars in thousands)
Net amortization of bond premiums	$	431		$	712		Interest on debt securities
Tax effect		(116	)		(191	)	Income tax benefit
		315			521		Net income (loss)
Net interest income on swaps		(21	)		—		Interest on deposits
Tax effect		6			—		Income tax benefit
		(15	)		—		Net income (loss)
Gain on termination of interest rate swaps		—			(849	)	Gain on termination of interest rate swaps
Tax effect		—			230		Income tax benefit
		—			(619	)	Net income (loss)
Total reclassification adjustments	$	300		$	(98	)

The following tables present the changes in each component of AOCI for the periods indicated:

(Dollars in thousands)	Net Unrealized Income (Losses) on AFS Securities(1)			Net Unrealized Losses on Cash Flow Hedges(1)			AOCI(1)
Balance at June 30, 2024	$	(7,153	)	$	—		$	(7,153	)
Other comprehensive income (loss) before      reclassification		2,182			(96	)		2,086
Amounts reclassified from AOCI		107			(15	)		92
Other comprehensive income (loss)		2,289			(111	)		2,178
Balance at September 30, 2024	$	(4,864	)	$	(111	)	$	(4,975	)
Balance at June 30, 2023	$	(9,922	)	$	—		$	(9,922	)
Other comprehensive loss before      reclassification		(5,023	)		—			(5,023	)
Amounts reclassified from AOCI		162			—			162
Other comprehensive loss		(4,861	)		—			(4,861	)
Balance at September 30, 2023	$	(14,783	)	$	—		$	(14,783	)
Balance at December 31, 2023	$	(5,944	)	$	—		$	(5,944	)
Other comprehensive income (loss) before      reclassification		765			(96	)		669
Amounts reclassified from AOCI		315			(15	)		300
Other comprehensive income (loss)		1,080			(111	)		969
Balance at September 30, 2024	$	(4,864	)	$	(111	)	$	(4,975	)
Balance at December 31, 2022	$	(10,428	)	$	701		$	(9,727	)
Other comprehensive loss before      reclassification		(4,876	)		(82	)		(4,958	)
Amounts reclassified from AOCI		521			(619	)		(98	)
Other comprehensive loss		(4,355	)		(701	)		(5,056	)
Balance at September 30, 2023	$	(14,783	)	$	—		$	(14,783	)

(1)All amounts are net of tax.