Note 7 - Other Comprehensive (Loss) Income

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

(7) Other Comprehensive (Loss) Income

Other comprehensive (loss) income is defined as the change in equity during a period from transactions and other events from non-owner sources. Comprehensive (loss) income is the total of net income and other comprehensive income or loss, which for the Company is comprised of unrealized gains or losses on securities available for sale. The components of other comprehensive (loss) income and the related tax effects were as follows:

	For the period ended March 31,
(Dollars in thousands)	2024									2023
	Before Tax			Tax Effect			Net of Tax			Before Tax		Tax (1) Effect		Net of Tax
Securities available for sale:
Unrealized (losses) gains arising during the period	$	(12	)		(4	)		(8	)		2,845		599		2,246
Other comprehensive (loss) income	$	(12	)		(4	)		(8	)		2,845		599		2,246

⁽¹⁾ The tax effect on gross unrealized (losses) gains was impacted by a change in the effective tax rate used in 2023 to allocate the total unrealized gains on securities between the deferred tax asset and other comprehensive income.