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Other Comprehensive (Loss) Income
 6 Months Ended
Jun. 30, 2023
Other Comprehensive Income [Abstract]  
Other Comprehensive (Loss) Income Other Comprehensive (Loss) Income
The following table presents the components of other comprehensive (loss) income for the three and six months ended June 30, 2023 and 2022.
(dollars in thousands)Before TaxTax EffectNet of Tax
Three Months Ended June 30, 2023
Net unrealized loss on securities available-for-sale$(15,959)$3,885 $(12,074)
Less: Reclassification adjustment for net gain included in net income(2)— (2)
Total unrealized loss on investment securities available-for-sale(15,961)3,885 (12,076)
Amortization of unrealized loss on securities transferred to held-to-maturity1,831 (428)1,403 
Total unrealized gain recognized on investment securities held-to-maturity1,831 (428)1,403 
Other comprehensive loss$(14,130)$3,457 $(10,673)
Three Months Ended June 30, 2022
Net unrealized loss on securities available-for-sale$(44,717)$11,697 $(33,020)
Less: Reclassification adjustment for net loss included in net income151 (51)100 
Total unrealized loss on investment securities available-for-sale(44,566)11,646 (32,920)
Amortization of unrealized loss on securities transferred to held-to-maturity2,689 (698)1,991 
Total unrealized gain recognized on investment securities held-to-maturity2,689 (698)1,991 
Net unrealized gain on derivatives284 — 284 
Total unrealized gain on derivatives284 — 284 
Other comprehensive loss$(41,593)$10,948 $(30,645)
Six Months Ended June 30, 2023
Net unrealized gain on securities available-for-sale$8,080 $(2,218)$5,862 
Less: Reclassification adjustment for net loss included in net income19 (5)14 
Total unrealized gain on investment securities available-for-sale8,099 (2,223)5,876 
Amortization of unrealized loss on securities transferred to held-to-maturity3,814 (1,770)2,044 
Total unrealized gain recognized on investment securities held-to-maturity3,814 (1,770)2,044 
Other comprehensive income$11,913 $(3,993)$7,920 
Six Months Ended June 30, 2022
Net unrealized loss on securities available-for-sale$(123,944)$32,520 $(91,424)
Less: Reclassification adjustment for net losses included in net income176 (59)117 
Total unrealized loss on investment securities available-for-sale(123,768)32,461 (91,307)
Net unrealized loss on securities transferred to held-to-maturity(66,193)17,098 (49,095)
Amortization of unrealized loss on securities transferred to held-to-maturity2,689 (698)1,991 
Total unrealized loss on investment securities held-to-maturity(63,504)16,400 (47,104)
Net unrealized gain on derivatives284 — 284 
Total unrealized gain on derivatives284 — 284 
Other comprehensive loss$(186,988)$48,861 $(138,127)
The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, for the three and six months ended June 30, 2023 and 2022.
(dollars in thousands)Securities Available-For-SaleSecurities Held-to-MaturityDerivativesAccumulated Other Comprehensive Income (Loss)
Three Months Ended June 30, 2023
Balance at beginning of period$(136,821)$(44,093)$— $(180,914)
Other comprehensive loss before reclassifications(12,074)— — (12,074)
Amounts reclassified from accumulated other comprehensive income (loss)(2)— — (2)
Amortization of unrealized loss on securities transferred to held-to-maturity— 1,403 — 1,403 
Net other comprehensive (loss) income during period(12,076)1,403 — (10,673)
Balance at end of period$(148,897)$(42,690)$— $(191,587)
Three Months Ended June 30, 2022
Balance at beginning of period$(72,345)$(49,095)$(284)$(121,724)
Other comprehensive (loss) income before reclassifications(33,020)— 284 (32,736)
Amounts reclassified from accumulated other comprehensive income (loss)100 — 100 
Amortization of unrealized loss on securities transferred to held-to-maturity— 1,991 — 1,991 
Net other comprehensive (loss) income during period(32,920)1,991 284 (30,645)
Balance at end of period$(105,265)$(47,104)$— $(152,369)
Six Months Ended June 30, 2023
Balance at beginning of period$(154,773)$(44,734)$— $(199,507)
Other comprehensive income before reclassifications5,862 — — 5,862 
Amounts reclassified from accumulated other comprehensive income (loss)14 — — 14 
Amortization of unrealized loss on securities transferred to held-to-maturity— 2,044 — 2,044 
Net other comprehensive income during period5,876 2,044 — 7,920 
Balance at end of period$(148,897)$(42,690)$— $(191,587)
Six Months Ended June 30, 2022
Balance at beginning of period$(13,958)$— $(284)$(14,242)
Other comprehensive (loss) income before reclassifications(91,424)(49,095)284 (140,235)
Amounts reclassified from accumulated other comprehensive income (loss)117 — — 117 
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)
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, 2023 and 2022.
Details about Accumulated Other Comprehensive Income (Loss) ComponentsAmount Reclassified from Accumulated Other Comprehensive Income (Loss)
Three Months Ended June 30,Affected Line Item in Consolidated Statements of Income
(dollars in thousands)20232022
Realized gain (loss) on sale of investment securities$2 $(151)Net gain (loss) on sale of investment securities
Income tax benefit— 51 Income tax expense
Total reclassifications for the periods$2 $(100)
Details about Accumulated Other Comprehensive Income (Loss) ComponentsAmount Reclassified from Accumulated Other Comprehensive Income (Loss)
Six Months Ended June 30,Affected Line Item in Consolidated Statements of Income
(dollars in thousands)20232022
Realized loss on sale of investment securities$(19)$(176)Net gain (loss) on sale of investment securities
Income tax benefit5 59 Income tax expense
Total reclassifications for the periods$(14)$(117)