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Other Comprehensive Income (Loss)
 9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Other Comprehensive Income (Loss)

14. Other Comprehensive INcome (LOSS)

The following tables present the changes in accumulated other comprehensive income (loss) (“AOCI”) (“AOCL”) during the periods, by component, net of tax:

 

 

 

Three Months Ended September 30, 2023

 

 

Three Months Ended September 30, 2022

 

 

 

Before Tax
Amount

 

 

Tax (Expense)
or Benefit

 

 

Net-of-tax
Amount

 

 

Before Tax
Amount

 

 

Tax (Expense)
or Benefit

 

 

Net-of-tax
Amount

 

 

 

(dollars in thousands)

 

Available for sale securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding gains (losses)

 

$

(3,388

)

 

$

884

 

 

$

(2,504

)

 

$

(8,575

)

 

$

2,173

 

 

$

(6,402

)

Interest rate swaps designated as cash flow
   hedges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding (losses) gains

 

 

(536

)

 

 

149

 

 

 

(387

)

 

 

(209

)

 

 

59

 

 

 

(150

)

Reclassification adjustment for (losses) income recognized in net income

 

 

148

 

 

 

(41

)

 

 

107

 

 

 

20

 

 

 

(6

)

 

 

14

 

Total other comprehensive income (loss)

 

$

(3,776

)

 

$

992

 

 

$

(2,784

)

 

$

(8,764

)

 

$

2,226

 

 

$

(6,538

)

 

 

 

Nine Months Ended September 30, 2023

 

 

Nine Months Ended September 30, 2022

 

 

 

Before Tax
Amount

 

 

Tax (Expense)
or Benefit

 

 

Net-of-tax
Amount

 

 

Before Tax
Amount

 

 

Tax (Expense) or Benefit

 

 

Net-of-tax
Amount

 

 

 

(dollars in thousands)

 

Available for sale securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding gains (losses)

 

$

(3,039

)

 

$

811

 

 

$

(2,228

)

 

$

(25,170

)

 

$

6,404

 

 

$

(18,766

)

Interest rate swaps designated as cash flow
   hedges

 

 

 

 

 

 

 

 

 

 

 

 

 

.

 

 

 

 

Unrealized holding (losses) gains

 

 

(1,169

)

 

 

327

 

 

 

(842

)

 

 

(2,267

)

 

 

634

 

 

 

(1,633

)

Reclassification adjustment for (losses) income recognized in net income

 

 

437

 

 

 

(122

)

 

 

315

 

 

 

(985

)

 

 

275

 

 

 

(710

)

Total other comprehensive income (loss)

 

$

(3,771

)

 

$

1,016

 

 

$

(2,755

)

 

$

(28,422

)

 

$

7,313

 

 

$

(21,109

)

 

Reclassifications out of AOCI and AOCL that have an impact on net income are presented below.

 

Three Months Ended

Details about Accumulated Other Comprehensive Income (Loss) Components

 

September 30, 2023

 

 

September 30, 2022

 

 

Affected Line Item in the
Statement where Net Income
is Presented

 

 

(dollars in thousands)

 

 

 

Unrealized (losses) gains on derivatives

 

$

(148

)

 

$

(20

)

 

Interest on taxable loans

Tax benefit (expense)

 

 

41

 

 

 

6

 

 

Income tax expense

Net of tax

 

$

(107

)

 

$

(14

)

 

Net income

 

Nine Months Ended

Details about Accumulated Other Comprehensive Loss Components

 

September 30, 2023

 

 

September 30, 2022

 

 

Affected Line Item in the
Statement where Net Income
is Presented

 

 

(dollars in thousands)

 

 

 

Unrealized (losses) gains on derivatives

 

$

(437

)

 

$

985

 

 

Interest on taxable loans

Tax benefit (expense)

 

 

122

 

 

 

(275

)

 

Income tax expense

Net of tax

 

$

(315

)

 

$

710

 

 

Net income