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Comprehensive Income and Accumulated Other Comprehensive Income (Loss) | 6 Months Ended
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Jun. 30, 2023
Equity [Abstract] |
Comprehensive Income and Accumulated Other Comprehensive Income (Loss) | Note 7. Comprehensive Income and Accumulated Other Comprehensive Income (Loss) Comprehensive income (loss) includes net income plus unrealized gains (losses) on our available-for-sale investment securities, net of tax. In reporting comprehensive income (loss) on a net basis in the statements of comprehensive income (loss), we used a 21% tax rate in 2023 and 2022. The difference between net income as reported and comprehensive income (loss) 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 (loss) for each period presented in the interim financial statements.
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
|  | (in thousands) |
Balance, beginning of period |  | $ | (9,484 | ) |  | $ | 57 |  |  | $ | (13,828 | ) |  | $ | 13,537 |
Other comprehensive income (loss) before reclassification |  |  | (2,765 | ) |  |  | (8,248 | ) |  |  | 1,574 |  |  |  | (21,705 | )
Amounts reclassified from accumulated other comprehensive loss |  |  | 149 |  |  |  | (683 | ) |  |  | 154 |  |  |  | (706 | )
Net current period other comprehensive income (loss) |  |  | (2,616 | ) |  |  | (8,931 | ) |  |  | 1,728 |  |  |  | (22,411 | )
Balance, end of period |  | $ | (12,100 | ) |  | $ | (8,874 | ) |  | $ | (12,100 | ) |  | $ | (8,874 | )
The sale or credit loss allowance adjustment of an available-for-sale security results in amounts being reclassified from accumulated other comprehensive income (loss) to current period net income. The effects of reclassifications out of accumulated other comprehensive income (loss) by the respective line items of net income are presented in the following table.
Component of Accumulated Other |  | Three Months Ended |  |  | Six Months Ended |  |  | Affected line item in the
Comprehensive Income (Loss) |  | June 30, |  |  | June 30, |  |  | statement of income
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |  |  |
|  | (in thousands) |  |  |
Unrealized gains (losses) on debt securities, net of tax |  | $ | (189 | ) |  | $ | 865 |  |  | $ | (195 | ) |  | $ | 894 |  |  | Net realized gains on investments
|  |  | (189 | ) |  |  | 865 |  |  |  | (195 | ) |  |  | 894 |  |  | Income before income taxes
Unrealized gains (losses) on debt securities, net of tax |  |  | 40 |  |  |  | (182 | ) |  |  | 41 |  |  |  | (188 | ) |  | Income tax expense
|  | $ | (149 | ) |  | $ | 683 |  |  | $ | (154 | ) |  | $ | 706 |  |  | 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://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//220/tableOfContent + Details
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