Other Comprehensive Income

3 Months Ended

Mar. 31, 2021

The following table presents the components of other comprehensive income (loss) for the three months ended March 31, 2021 and 2020 (unaudited).


(dollars in thousands)	Before Tax		Tax Effect		Net of Tax
Three Months Ended March 31, 2021
Net unrealized gain (loss) on securities available-for-sale	$	(23,713)	$	6,096	$	(17,617)
Less: Reclassification adjustment for net gains (losses) included in net income	(221)		55		(166)
Total unrealized gain (loss)	(23,934)		6,151		(17,783)

Net unrealized gain (loss) on derivatives	767		(194)		573
Less: Reclassification adjustment for gain (loss) included in net income	(384)		96		(288)
Total unrealized gain (loss)	383		(98)		285

Other Comprehensive Income (Loss)	$	(23,551)	$	6,053	$	(17,498)

Three Months Ended March 31, 2020
Net unrealized gain (loss) on securities available-for-sale	$	16,736	$	(4,632)	$	12,104
Less: Reclassification adjustment for net gains (losses) included in net income	(822)		(218)		(604)
Total unrealized gain (loss)	15,914		(4,850)		11,500

Net unrealized gain (loss) on derivatives	(1,989)		664		(1,325)
Less: Reclassification adjustment for gain (loss) included in net income	(94)		(25)		(69)
Total unrealized gain (loss)	(2,083)		639		(1,394)

Other Comprehensive Income (Loss)	$	13,831	$	(4,211)	$	10,106

The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, for the three months ended March 31, 2021 and 2020.


	Securities				Accumulated Other
	Available				Comprehensive Income
(dollars in thousands)	For Sale		Derivatives		(Loss)
Three Months Ended March 31, 2021
Balance at Beginning of Period	$	16,168	$	(668)	$	15,500
Other comprehensive income (loss) before reclassifications	(17,617)		573		(17,044)
Amounts reclassified from accumulated other comprehensive income (loss)	(166)		(288)		(454)
Net other comprehensive income (loss) during period	(17,783)		285		(17,498)
Balance at End of Period	$	(1,615)	$	(383)	$	(1,998)

	Securities				Accumulated Other
	Available				Comprehensive Income
(dollars in thousands)	For Sale		Derivatives		(Loss)
Three Months Ended March 31, 2020
Balance at Beginning of Period	$	3,109	$	(150)	$	2,959
Other comprehensive income (loss) before reclassifications	12,104		(1,325)		10,779
Amounts reclassified from accumulated other comprehensive loss	(604)		(69)		(673)
Net other comprehensive income (loss) during period	11,500		(1,394)		10,106
Balance at End of Period	$	14,609	$	(1,544)	$	13,065

The following tables present the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three months ended March 31, 2021 and 2020.


	Amount Reclassified from
	Accumulated Other				Affected Line Item in
Details about Accumulated Other	Comprehensive (Loss) Income				the Statement Where
Comprehensive Income Components	Three Months Ended March 31,				Net Income is Presented
(dollars in thousands)	2021		2020
Realized gain on sale of investment securities	$	221	$	822	Gain on sale of investment securities
Interest income derivative deposits	384		94		Interest income on deposits
Income tax expense	(151)		(243)		Income tax expense
Total Reclassifications for the Period	$	454	$	673	Net Income