Comprehensive Income

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Comprehensive Income

Note 2 – Comprehensive Income

The Company reports as comprehensive income all changes in shareholders’ equity during the year from sources other than shareholders. Other comprehensive income refers to all components (revenues, expenses, gains, and losses) of comprehensive income that are excluded from net income. The Company’s only component of other comprehensive income is unrealized gains and losses, net of income tax, on investment securities available for sale.

The following table presents the changes in accumulated other comprehensive income (loss) for the three and six months ended June 30, 2021 and 2020:

	For the Three Months Ended June 30,					For the Six Months Ended June 30,
	2021			2020		2021			2020
	(dollars in thousands)
Beginning balance	$	388		$	1,927	$	4,160		$	323
Other comprehensive income (loss) before reclassifications,    net of ($275), ($370), $662 and ($860) tax effect, respectively		912			1,236		(2,110	)		2,887
Amounts reclassified from accumulated other    comprehensive income, net of $14, $0, $204 and $11 tax effect, respectively		(37	)		—		(787	)		(47	)
Net current-period other comprehensive income (loss)		875			1,236		(2,897	)		2,840
Ending balance	$	1,263		$	3,163	$	1,263		$	3,163