ACCUMULATED OTHER COMPREHENSIVE INCOME

3 Months Ended

Mar. 31, 2023

NOTE 5 – 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. 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 table presents a summary of the accumulated other comprehensive income balances as well as changes in each of the respective components, net of tax, for the periods indicated:


(dollars in thousands)	Unrealized Gain (Loss) on Securities		Accumulated Other Comprehensive Income (Loss)
Three Months Ended March 31, 2023
Balance, December 31, 2022	$	(46,507)	$	(46,507)
Reclassification for gains included in net income, net of tax	—		—
Current year changes, net of tax	10,926		10,926
Balance, March 31, 2023	$	(35,581)	$	(35,581)

Three Months Ended March 31, 2022
Balance, December 31, 2021	$	15,590	$	15,590
Reclassification for gains included in net income, net of tax	—		—
Current year changes, net of tax	(17,431)		(17,431)
Balance, March 31, 2022	$	(1,841)	$	(1,841)