ACCUMULATED OTHER COMPREHENSIVE INCOME

3 Months Ended

Mar. 31, 2024

NOTE 5 – ACCUMULATED OTHER COMPREHENSIVE INCOME

Accumulated other comprehensive income (loss) for the Company consists of changes in net unrealized gains and losses on debt 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 (loss) balances, 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, 2024
Balance, December 31, 2023	$	(35,939)	$	(35,939)

Unrealized loss on debt securities available-for-sale, net of tax	(4,020)		(4,020)
Balance, March 31, 2024	$	(39,959)	$	(39,959)

Three Months Ended March 31, 2023
Balance, December 31, 2022	$	(46,507)	$	(46,507)

Unrealized gain on debt securities available-for-sale, net of tax	10,926		10,926
Balance, March 31, 2023	$	(35,581)	$	(35,581)