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Other Comprehensive Income (Loss) | 6 Months Ended
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Jun. 30, 2022
Other Comprehensive Income [Abstract] |
Other Comprehensive Income (Loss) | Other Comprehensive Income (Loss) The following table presents the components of other comprehensive income (loss) for the three and six months ended June 30, 2022 and 2021.
(dollars in thousands) |  | Before Tax |  | Tax Effect |  | Net of Tax
Three Months Ended June 30, 2022 |  |  |  |  |  |
Net unrealized loss on securities available-for-sale |  | $ | (44,717) |  |  | $ | 11,697 |  |  | $ | (33,020) |
Less: Reclassification adjustment for net loss included in net income |  | 151 |  |  | (51) |  |  | 100 |
Total unrealized loss on investment securities available-for-sale |  | (44,566) |  |  | 11,646 |  |  | (32,920) |
Amortization of unrealized loss on securities transferred to held-to-maturity |  | 2,689 |  |  | (698) |  |  | 1,991 |
Total unrealized gain investment securities held-to-maturity |  | 2,689 |  |  | (698) |  |  | 1,991 |
Net unrealized gain on derivatives |  | 284 |  |  | — |  |  | 284 |
Total unrealized gain on derivatives |  | 284 |  |  | — |  |  | 284 |
Other comprehensive loss |  | $ | (41,593) |  |  | $ | 10,948 |  |  | $ | (30,645) |
Three Months Ended June 30, 2021 |  |  |  |  |  |
Net unrealized gain on securities available-for-sale |  | $ | 8,957 |  |  | $ | (2,302) |  |  | $ | 6,655 |
Less: reclassification adjustment for net gain included in net income |  | (318) |  |  | 82 |  |  | (236) |
Total unrealized gain on investment securities available-for-sale |  | 8,639 |  |  | (2,220) |  |  | 6,419 |
Reclassification adjustment for loss included in net income |  | 133 |  |  | (34) |  |  | 99 |
Total unrealized gain on derivatives |  | 133 |  |  | (34) |  |  | 99 |
Other comprehensive income |  | $ | 8,772 |  |  | $ | (2,254) |  |  | $ | 6,518 |
Six Months Ended June 30, 2022 |  |  |  |  |  |
Net unrealized loss on securities available-for-sale |  | $ | (123,944) |  |  | $ | 32,520 |  |  | $ | (91,424) |
Less: Reclassification adjustment for net losses included in net income |  | 176 |  |  | (59) |  |  | 117 |
Total unrealized loss on investment securities available-for-sale |  | (123,768) |  |  | 32,461 |  |  | (91,307) |
Net unrealized (loss) on securities transferred to held-to-maturity |  | (66,193) |  |  | 17,098 |  |  | (49,095) |
Amortization of unrealized loss on securities transferred to held-to-maturity |  | 2,689 |  |  | (698) |  |  | 1,991 |
Total unrealized loss on investment securities held-to-maturity |  | (63,504) |  |  | 16,400 |  |  | (47,104) |
Net unrealized gain on derivatives |  | 284 |  |  | — |  |  | 284 |
Total unrealized gain on derivatives |  | 284 |  |  | — |  |  | 284 |
Other comprehensive loss |  | $ | (186,988) |  |  | $ | 48,861 |  |  | $ | (138,127) |
Six Months Ended June 30, 2021 |  |  |  |  |  |
Net unrealized loss on securities available-for-sale |  | $ | (14,756) |  |  | $ | 3,794 |  |  | $ | (10,962) |
Less: Reclassification adjustment for net gains included in net income |  | (539) |  |  | 137 |  |  | (402) |
Total unrealized loss on investment securities available-for-sale |  | (15,295) |  |  | 3,931 |  |  | (11,364) |
Net unrealized loss on derivatives |  | (1) |  |  | — |  |  | (1) |
Reclassification adjustment for loss included in net income |  | 517 |  |  | (132) |  |  | 385 |
Total unrealized gain on derivatives |  | 516 |  |  | (132) |  |  | 384 |
Other comprehensive loss |  | $ | (14,779) |  |  | $ | 3,799 |  |  | $ | (10,980) |
(1) Represents unamortized AOCI on securities transferred to held-to-maturity status. The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, for the three and six months ended June 30, 2022 and 2021.
|  | Securities |  | Securities |  |  |  | Accumulated Other
|  | Available |  | Held to |  |  |  | Comprehensive
(dollars in thousands) |  | For Sale |  | Maturity |  | Derivatives |  | Income (Loss)
Three Months Ended June 30, 2022 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (72,345) |  |  | $ | (49,095) |  |  | $ | (284) |  |  | $ | (121,724) |
Other comprehensive (loss) income before reclassifications |  | (33,020) |  |  | — |  |  | 284 |  |  | (32,736) |
Amounts reclassified from accumulated other comprehensive loss |  | 100 |  |  | — |  |  | — |  |  | 100 |
Amortization of unrealized loss on securities transferred to held-to-maturity |  | — |  |  | 1,991 |  |  | — |  |  | 1,991 |
Net other comprehensive loss during period |  | (32,920) |  |  | 1,991 |  |  | 284 |  |  | (30,645) |
Balance at end of period |  | $ | (105,265) |  |  | $ | (47,104) |  |  | $ | — |  |  | $ | (152,369) |
Three Months Ended June 30, 2021 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (1,615) |  |  | $ | — |  |  | $ | (383) |  |  | $ | (1,998) |
Other comprehensive income before reclassifications |  | 6,655 |  |  | — |  |  | — |  |  | 6,655 |
Amounts reclassified from accumulated other comprehensive income (loss) |  | (236) |  |  | — |  |  | 99 |  |  | (137) |
Net other comprehensive income during period |  | 6,419 |  |  | — |  |  | 99 |  |  | 6,518 |
Balance at end of period |  | $ | 4,804 |  |  | $ | — |  |  | $ | (284) |  |  | $ | 4,520 |
Six Months Ended June 30, 2022 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (13,958) |  |  | $ | — |  |  | $ | (284) |  |  | $ | (14,242) |
Other comprehensive (loss) income before reclassifications |  | (91,424) |  |  | — |  |  | 284 |  |  | (91,140) |
Amounts reclassified from accumulated other comprehensive loss |  | 117 |  |  | — |  |  | — |  |  | 117 |
Net unrealized loss on securities transferred to held-to-maturity |  | — |  |  | (49,095) |  |  | — |  |  | (49,095) |
Amortization of unrealized loss on securities transferred to held-to-maturity |  | — |  |  | 1,991 |  |  | — |  |  | 1,991 |
Net other comprehensive (loss) income during period |  | (91,307) |  |  | (47,104) |  |  | 284 |  |  | (138,127) |
Balance at end of period |  | $ | (105,265) |  |  | $ | (47,104) |  |  | $ | — |  |  | $ | (152,369) |
Six Months Ended June 30, 2021 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | 16,168 |  |  | $ | — |  |  | $ | (668) |  |  | $ | 15,500 |
Other comprehensive (loss) income before reclassifications |  | (10,962) |  |  | — |  |  | (1) |  |  | (10,963) |
Amounts reclassified from accumulated other comprehensive loss |  | (402) |  |  | — |  |  | 385 |  |  | (17) |
Net other comprehensive (loss) income during period |  | (11,364) |  |  | — |  |  | 384 |  |  | (10,980) |
Balance at end of period |  | $ | 4,804 |  |  | $ | — |  |  | $ | (284) |  |  | $ | 4,520 |
The following tables present the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2022 and 2021.
|  | Amount Reclassified from |  |
|  | Accumulated Other |  |
Details about Accumulated Other |  | Comprehensive (Loss) Income |  | Affected Line Item in
Comprehensive Loss Components |  | Three Months Ended June 30, |  | Consolidated Statements of
(dollars in thousands) |  | 2022 |  | 2021 |  | Income
Realized (loss) gain on sale of investment securities |  | $ | (151) |  |  | $ | 318 |  |  | Net (loss) gain on sale of investment securities
Interest income derivative deposits |  | — |  |  | (133) |  |  | Interest on balances with other banks and short-term investments
Income tax benefit (expense) |  | 51 |  |  | (48) |  |  | Income tax expense
Total reclassifications for the periods |  | $ | (100) |  |  | $ | 137 |  |  |
|  | Amount Reclassified from |  |
|  | Accumulated Other |  |
Details about Accumulated Other |  | Comprehensive (Loss) Income |  | Affected Line Item in
Comprehensive Loss Components |  | Six Months Ended June 30, |  | Consolidated Statements of
(dollars in thousands) |  | 2022 |  | 2021 |  | Income
Realized (loss) gain on sale of investment securities |  | $ | (176) |  |  | $ | 539 |  |  | Net (loss) gain on sale of investment securities
Interest income derivative deposits |  | — |  |  | (517) |  |  | Interest on balances with other banks and short-term investments
Income tax benefit (expense) |  | 59 |  |  | (5) |  |  | Income tax expense
Total reclassifications for the periods |  | $ | (117) |  |  | $ | 17 |  |  |

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- Definition Other Comprehensive Income + References No definition available. + Details
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- Definition The entire disclosure of other comprehensive income. + References No definition available. + Details
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