Note 16 - Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2023

Other Comprehensive Income (Loss), Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 16 - Accumulated Other Comprehensive Income (Loss)

The following shows the components of accumulated other comprehensive income (loss) during the periods ended December 31, 2023, 2022 and 2021:

December 31,	2023			2022			2021
Unrealized net holding loss on available-for-sale securities	$	(84,247	)	$	(102,692	)	$	(4,734	)
Unrealized loss on available-for-sale securities for which a portion of an other-than-temporary impairment loss has been recognized in earnings		—			—			—
Unrealized net holding loss on interest rate swaps		(1,749	)		—			—
Accumulated other comprehensive loss		(85,996	)		(102,692	)		(4,734	)
Tax effect*		18,059			21,565			994
Accumulated other comprehensive (loss) income, net of tax	$	(67,937	)	$	(81,127	)	$	(3,740	)

* At tax rates of 21%

The following table presents amounts reclassified out of accumulated other comprehensive income (loss) for the years ended December 31, 2023, 2022 and 2021:

	Amount reclassified from accumulated other comprehensive income (loss)
Details about accumulated other comprehensive (loss) income	2023			2022			2021			Affected line item in statement of income
Realized net holding (loss) gain on available-for-sale securities	$	(2,058	)	$	(139	)	$	18		Net (loss) gain on sales of investment securities
Impairment loss on investment securities		—			—			—		Net impairment loss on investment securities
Fair value remeasurements on fair value hedges		57			—			—		Interest and dividends on investment securities (AFS & Equity)
		(2,001	)		(139	)		18
Tax effect*		420			29			(4	)	Provision for income taxes
Total reclassification out of accumulated other    comprehensive (loss) income, net of tax	$	(1,581	)	$	(110	)	$	14		Net of tax

* At rate of 21%