ACCUMULATED OTHER COMPREHENSIVE INCOME

3 Months Ended

Mar. 31, 2021

NOTE 6 – ACCUMULATED OTHER COMPREHENSIVE INCOME

Accumulated other comprehensive income for the Company consists of changes in net unrealized gains and losses on investment securities available for sale and interest rate swap derivatives. The reclassification for gains included in net income is recorded in net gain (loss) on securities in the consolidated statement of income and comprehensive income. The following tables present a summary of the accumulated other comprehensive income balances, net of tax, as of March 31, 2021 and 2020:


(dollars in thousands)	Unrealized Gain (Loss) on Derivatives		Unrealized Gain (Loss) on Securities		Accumulated Other Comprehensive Income (Loss)
Balance, January 1, 2021	$	—	$	33,505	$	33,505


Reclassification for gains included in net income, net of tax	—		—		—
Current year changes, net of tax	—		(7,415)		(7,415)
Balance, March 31, 2021	$	—	$	26,090	$	26,090


(dollars in thousands)	Unrealized Gain (Loss) on Derivatives		Unrealized Gain (Loss) on Securities		Accumulated Other Comprehensive Income (Loss)
Balance, January 1, 2020	$	(147)	$	18,142	$	17,995


Reclassification for gains included in net income, net of tax	—		—		—
Current year changes, net of tax	(97)		21,653		21,556
Balance, March 31, 2020	$	(244)	$	39,795	$	39,551