OTHER COMPREHENSIVE INCOME

6 Months Ended

Jun. 30, 2020

OTHER COMPREHENSIVE INCOME

OTHER COMPREHENSIVE INCOME

14. OTHER COMPREHENSIVE INCOME

OCI components and related tax effects were as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in thousands)	2020		2019		2020		2019
Available-for-Sale Debt Securities:
Change in unrealized gain on AFS debt securities	$	1,099	$	2,014	$	8,876	$	5,673
Change in unrealized gain of AFS debt security for which a portion of OTTI has been recognized in earnings		(108)		(1)		(107)		(34)
Net unrealized (losses) gains		991		2,013		8,769		5,639
Tax effect		(248)		(422)		(2,193)		(1,186)
Net of tax		743		1,591		6,576		4,453
Cash Flow Hedges:
Change in fair value of derivatives used for cash flow hedges		(10)		(146)		(171)		(215)
Reclassification amount for net derivative losses (gains) realized in income		79		(13)		108		(32)
Net unrealized gains		69		(159)		(63)		(247)
Tax effect		(17)		33		15		53
Net of tax		52		(126)		(48)		(194)
Total other comprehensive (loss) income components, net of tax	$	795	$	1,465	$	6,528	$	4,259

The table below presents the significant amounts reclassified out of each component of AOCI:

		Amounts Reclassified from AOCI
	Affected Line Items	Three Months Ended				Six Months Ended
	in the Consolidated	June 30,				June 30,
(in thousands)	Statements of Income	2020		2019		2020		2019
Cash Flow Hedges:
Interest rate swap on money market deposits	Interest benefit (expense) on deposits	$	(38)	$	8	$	(55)	$	16
Interest rate swap on FHLB advance	Interest benefit (expense) on FHLB advances		(41)		5		(53)		16
Total derivative gains (losses) on cash flow hedges	Total interest benefit (expense)		(79)		13		(108)		32
Tax effect	Income tax (benefit) expense		20		(3)		27		(7)
Net of tax	Net income	$	(59)	$	10	$	(81)	$	25

The following is a summary of the AOCI balances, net of tax:

			2020
(in thousands)	December 31, 2019		Change		June 30, 2020
Unrealized gain on AFS debt securities	$	2,211	$	6,657	$	8,868
Unrealized gain on AFS debt security for which a portion of OTTI has been recognized in earnings		964		(81)		883
Unrealized loss on cash flow hedges		(77)		(48)		(125)
Total unrealized gain	$	3,098	$	6,528	$	9,626

			2019
(in thousands)	December 31, 2018		Change		June 30, 2019
Unrealized loss on AFS debt securities	$	(2,165)	$	4,480	$	2,315
Unrealized gain (loss) on AFS debt security for which a portion of OTTI has been recognized in earnings		1,078		(27)		1,051
Unrealized gain (loss) on cash flow hedges		90		(194)		(104)
Total unrealized gain (loss)	$	(997)	$	4,259	$	3,262