XML 38 R29.htm IDEA: XBRL DOCUMENT v3.23.2
Stockholders' Equity and Earnings per Common Share (Tables)
6 Months Ended
Jun. 30, 2023
Stockholders' Equity and Earnings Per Common Share [Abstract]  
Amounts Reclassified Out of Accumulated Other Comprehensive Loss, by Category
The following tables present amounts reclassified out of accumulated other comprehensive income (loss), by category, during the periods indicated:

   
Three Months Ended
   
Six Months Ended
   
   
June 30,
   
June 30,
 
Affected Line Item on
Consolidated Statement of Income
(dollars in thousands)
 
2023
   
2022
   
2023
   
2022
 
Available-for-sale securities
                                     
Realized loss on sale of securities
 
$
(164
)
 
$
-
   
$
(164
)
 
$
-
 
Loss on sale of available-for-sale securities, net
Tax effect
   
(34
)
   
-
     
(34
)
   
-
 
Income tax benefit
 
 
$
(130
)
 
$
-
   
$
(130
)
 
$
-
   
Changes in Accumulated Other Comprehensive Income (Loss), by Category
The following tables present the changes in accumulated other comprehensive income (loss), by category, net of tax, for the periods indicated:

(dollars in thousands)
 
Unrealized Gains
(Losses) on
Available-for-Sale
Securities
   
Accumulated Other
Comprehensive (Loss)
Income
 
Three Months Ended June 30, 2023
           
Balance at beginning of period
 
$
(18,435
)
 
$
(18,435
)
Net other comprehensive loss
   
(1,322
)
   
(1,322
)
Balance at end of period
 
$
(19,757
)
 
$
(19,757
)
                 
Three Months Ended June 30, 2022
               
Balance at beginning of period
 
$
(9,458
)
 
$
(9,458
)
Net other comprehensive loss
   
(6,392
)
   
(6,392
)
Balance at end of period
 
$
(15,850
)
 
$
(15,850
)

(dollars in thousands)
 
Unrealized Gains
(Losses) on
Available-for-Sale
Securities
   
Accumulated Other
Comprehensive (Loss)
Income
 
Six Months Ended June 30, 2023
           
Balance at beginning of period
 
$
(20,767
)
 
$
(20,767
)
Net other comprehensive income
   
1,010
     
1,010
 
Balance at end of period
 
$
(19,757
)
 
$
(19,757
)
                 
Six Months Ended June 30, 2022
               
Balance at beginning of period
 
$
1,675
   
$
1,675
 
Net other comprehensive loss
   
(17,525
)
   
(17,525
)
Balance at end of period
 
$
(15,850
)
 
$
(15,850
)
Component of Accumulated Other Comprehensive Income (Loss) on Pre-Tax and After-Tax
The following tables present the change in each component of accumulated other comprehensive income (loss) on a pre-tax and after-tax basis for the periods indicated:

   
Three Months Ended June 30, 2023
 
(dollars in thousands)
 
Pretax
   
Tax
   
Net-of-Tax
 
Unrealized losses on available-for-sale securities:
                 
Unrealized holding losses arising during the period
 
$
(1,838
)
 
$
(386
)
 
$
(1,452
)
Reclassification adjustment for losses recognized in income
    164       (34 )     130  

    (1,674 )     (420 )     (1,322 )
 
                       
Total change in accumulated other comprehensive loss, net
 
$
(1,674
)
 
$
(420
)
 
$
(1,322
)

   
Three Months Ended June 30, 2022
 
(dollars in thousands)
 
Pretax
   
Tax
   
Net-of-Tax
 
Unrealized losses on available-for-sale securities:
                       
Unrealized holding losses arising during the period
 
$
(8,091
)
 
$
(1,699
)
 
$
(6,392
)
                         
Total change in accumulated other comprehensive loss, net
 
$
(8,091
)
 
$
(1,699
)
 
$
(6,392
)

   
Six Months Ended June 30, 2023
 
(dollars in thousands)
 
Pretax
   
Tax
   
Net-of-Tax
 
Unrealized gains on available-for-sale securities:
                 
Unrealized holding gains arising during the period
 
$
1,114
 
$
234
 
$
880
Reclassification adjustment for losses recognized in income     164       (34 )     130  
      1,278       200       1,010  
                         
Total change in accumulated other comprehensive income, net
 
$
1,278
 
$
200
 
$
1,010

   
Six Months Ended June 30, 2022
 
(dollars in thousands)
 
Pretax
   
Tax
   
Net-of-Tax
 
Unrealized losses on available-for-sale securities:
                       
Unrealized holding losses arising during the period
 
$
(22,183
)
 
$
(4,658
)
 
$
(17,525
)
                         
Total change in accumulated other comprehensive loss, net
 
$
(22,183
)
 
$
(4,658
)
 
$
(17,525
)

Earnings Per Common Share
Computation of Earnings Per Share
The following is a reconciliation of the denominators of the basic and diluted EPS computations for the three and six months ended June 30, 2023 and 2022:

(dollars in thousands except per share data)
 
Net Income Available to
Common Shareholders
(Numerator)
   
Weighted Average
Common Shares
(Denominator)
   
Per Share
 Amount
 
Three Months Ended June 30, 2023
                 
Net income, basic
 
$
1,802
     
5,023
   
$
0.36
 
Potentially dilutive common shares - employee stock purchase program
    -
      -
      -
 
Diluted
 
$
1,802
     
5,024
   
$
0.36
 
                         
Three Months Ended June 30, 2022
                       
Net income, basic
 
$
1,892
     
5,087
   
$
0.37
 
Potentially dilutive common shares - employee stock purchase program
    -
      -
      -
 
Diluted
 
$
1,892
     
5,087
   
$
0.37
 
                         
Six Months Ended June 30, 2023
                       
Net income, basic
 
$
4,885
     
5,011
   
$
0.97
 
Potentially dilutive common shares - employee stock purchase program
    -
      -
      -
 
Diluted
 
$
4,885
     
5,012
   
$
0.97
 
                         
Six Months Ended June 30, 2022
                       
Net income, basic
 
$
3,923
     
5,136
   
$
0.76
 
Potentially dilutive common shares - employee stock purchase program
    -
      -
      -
 
Diluted
 
$
3,923
     
5,136
   
$
0.76