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Other Comprehensive Income

12 Months Ended

Dec. 31, 2018

Note 23 – Other Comprehensive Income

The following table presents the components of other comprehensive income (loss) for the years ended December 31, 2018, 2017 and 2016.

(dollars in thousands)	Before Tax			Tax Effect			Net of Tax
Year Ended December 31, 2018
Net unrealized loss on securities available-for-sale	$	(4,279	)	$	(438	)	$	(3,841	)
Less: Reclassification adjustment for net gains included in net income		(97	)		(25	)		(72	)
Total unrealized loss		(4,376	)		(463	)		(3,913	)

Net unrealized gain on derivatives		2,033			227			1,806
Less: Reclassification adjustment for gain included in net income		(560	)		(142	)		(418	)
Total unrealized gain		1,473			85			1,388

Other Comprehensive Loss	$	(2,903	)	$	(378	)	$	(2,525	)

Year Ended December 31, 2017
Net unrealized loss on securities available-for-sale	$	(1,319	)	$	(479	)	$	(840	)
Less: Reclassification adjustment for net gains included in net income		(542	)		(206	)		(336	)
Total unrealized loss		(1,861	)		(685	)		(1,176	)

Net unrealized gain on derivatives		4,559			1,765			2,794
Less: Reclassification adjustment for losses included in net income		(1,592	)		(605	)		(987	)
Total unrealized gain		2,967			1,160			1,807

Other Comprehensive Income	$	1,106		$	475		$	631

Year Ended December 31, 2016
Net unrealized loss on securities available-for-sale	$	(3,800	)	$	(1,520	)	$	(2,280	)
Less: Reclassification adjustment for net gains included in net income		(1,194	)		(478	)		(716	)
Total unrealized loss		(4,994	)		(1,998	)		(2,996	)

Net unrealized gain on derivatives		(2,947	)		(2,018	)		(929	)
Less: Reclassification adjustment for losses included in net income		2,255			902			1,353
Total unrealized gain		(692	)		(1,116	)		424

Other Comprehensive Loss	$	(5,686	)	$	(3,114	)	$	(2,572	)

The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, for the years ended December 31, 2018, 2017 and 2016.

	Securities						Accumulated Other
(dollars in thousands)	Available For Sale			Derivatives			Comprehensive Income (Loss)
Year Ended December 31, 2018
Balance at Beginning of Period	$	(3,131	)	$	1,381		$	(1,750	)
Other comprehensive income (loss) before reclassifications		(3,841	)		1,806			(2,035	)
Amounts reclassified from accumulated other comprehensive income		(72	)		(418	)		(490	)
Net other comprehensive income during period		(3,913	)		1,388			(2,525	)
Balance at End of Period	$	(7,044	)	$	2,769		$	(4,275	)

Year Ended December 31, 2017
Balance at Beginning of Period	$	(1,955	)	$	(426	)	$	(2,381	)
Other comprehensive income before reclassifications		(840	)		2,794			1,954
Amounts reclassified from accumulated other comprehensive income		(336	)		(987	)		(1,323	)
Net other comprehensive income during period		(1,176	)		1,807			631
Balance at End of Period	$	(3,131	)	$	1,381		$	(1,750	)

Year Ended December 31, 2016
Balance at Beginning of Period	$	1,041		$	(850	)	$	191
Other comprehensive income before reclassifications		(2,280	)		(934	)		(3,214	)
Amounts reclassified from accumulated other comprehensive income		(716	)		1,358			642
Net other comprehensive income during period		(2,996	)		424			(2,572	)
Balance at End of Period	$	(1,955	)	$	(426	)	$	(2,381	)

The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the years ended December 31, 2018, 2017 and 2016.

Details about Accumulated Other	Amount Reclassified from									Affected Line Item in
Comprehensive Income Components	Accumulated Other									the Statement Where
(dollars in thousands)	Comprehensive (Loss) Income									Net Income is Presented
	Year Ended December 31,
	2018			2017			2016
Realized gain on sale of investment securities	$	97		$	542		$	1,194		Gain on sale of investment securities
Interest income (expense) derivative deposits		560			(1,592	)		(1,695	)	Interest expense on deposits
Interest expense derivative borrowings		—			—			(569	)	Interest expense on short-term borrowings
Income tax (expense) benefit		(167	)		399			428		Tax expense
Total Reclassifications for the Period	$	490		$	(651	)	$	(642	)	Net Income