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Comprehensive Income and Accumulated Other Comprehensive Income | 9 Months Ended
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Sep. 30, 2021
Equity [Abstract] |
Comprehensive Income and Accumulated Other Comprehensive Income | Note 7. Comprehensive Income and Accumulated Other Comprehensive Income Comprehensive income includes net income plus unrealized gains (losses) on our available-for-sale investment securities, net of tax. In reporting comprehensive income on a net basis in the statements of comprehensive income, we used a 21 percent tax rate in 2021 and 2020. The difference between net income as reported and comprehensive income was due primarily to changes in unrealized gains and losses, net of tax on available-for-sale debt securities. The following table illustrates the changes in the balance of each component of accumulated other comprehensive income for each period presented in the interim financial statements.
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
|  | (in thousands) |
Balance, beginning of period |  | $ | 16,862 |  |  | $ | 19,178 |  |  | $ | 21,019 |  |  | $ | 12,211 |
Other comprehensive income (loss) before reclassification |  |  | (1,614 | ) |  |  | 1,316 |  |  |  | (4,210 | ) |  |  | 8,317 |
Amounts reclassified from accumulated other comprehensive income |  |  | (262 | ) |  |  | (582 | ) |  |  | (1,823 | ) |  |  | (616 | )
Net current period other comprehensive income (loss) |  |  | (1,876 | ) |  |  | 734 |  |  |  | (6,033 | ) |  |  | 7,701 |
Balance, end of period |  | $ | 14,986 |  |  | $ | 19,912 |  |  | $ | 14,986 |  |  | $ | 19,912 |
The sale or credit loss allowance adjustment of an available-for-sale security results in amounts being reclassified from accumulated other comprehensive income to current period net income. The effects of reclassifications out of accumulated other comprehensive income by the respective line items of net income are presented in the following table.
Component of Accumulated Other |  | Three Months Ended |  |  | Nine Months Ended |  |  | Affected line item in the
Comprehensive Income |  | September 30, |  |  | September 30, |  |  | statement of income
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |  |  |
|  | (in thousands) |  |  |
Unrealized gains on debt securities, net of tax |  | $ | 331 |  |  | $ | 737 |  |  | $ | 2,307 |  |  | $ | 780 |  |  | Net realized gains (losses) on investments
|  |  | 331 |  |  |  | 737 |  |  |  | 2,307 |  |  |  | 780 |  |  | Income before income taxes
Unrealized gains on debt securities, net of tax |  |  | (69 | ) |  |  | (155 | ) |  |  | (484 | ) |  |  | (164 | ) |  | Income tax expense
|  | $ | 262 |  |  | $ | 582 |  |  | $ | 1,823 |  |  | $ | 616 |  |  | Net income

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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