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Other Comprehensive (Loss) Income | 6 Months Ended
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Jun. 30, 2024
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, 2024 and 2023.
(dollars in thousands) |  | Before Tax |  | Tax Effect |  | Net of Tax
Three Months Ended June 30, 2024 |  |  |  |  |  |
Net unrealized gain on securities available-for-sale |  | $ | 4,812 |  |  | $ | (1,183) |  |  | $ | 3,629 |
Less: Reclassification adjustment for net gain included in net income |  | (3) |  |  | 1 |  |  | (2) |
Total unrealized gain on investment securities available-for-sale |  | 4,809 |  |  | (1,182) |  |  | 3,627 |
Amortization of unrealized loss on securities transferred to held-to-maturity |  | 1,725 |  |  | (403) |  |  | 1,322 |
Net unrealized loss on derivatives |  | (32) |  |  | 8 |  |  | (24) |
Other comprehensive income |  | $ | 6,502 |  |  | $ | (1,577) |  |  | $ | 4,925 |
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-maturity |  | 1,831 |  |  | (428) |  |  | 1,403 |
Other comprehensive loss |  | $ | (14,130) |  |  | $ | 3,457 |  |  | $ | (10,673) |
Six Months Ended June 30, 2024 |  |  |  |  |  |
Net unrealized loss on securities available-for-sale |  | $ | (1,881) |  |  | $ | 444 |  |  | $ | (1,437) |
Less: Reclassification adjustment for net gain included in net income |  | (7) |  |  | 1 |  |  | (6) |
Total unrealized loss on investment securities available-for-sale |  | (1,888) |  |  | 445 |  |  | (1,443) |
Amortization of unrealized loss on securities transferred to held-to-maturity |  | 3,456 |  |  | (749) |  |  | 2,707 |
Net unrealized gain on derivatives |  | 331 |  |  | (81) |  |  | 250 |
Other comprehensive income |  | $ | 1,899 |  |  | $ | (385) |  |  | $ | 1,514 |
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 income |  | 19 |  |  | (5) |  |  | 14 |
Total unrealized gain on investment securities available-for-sale |  | 8,099 |  |  | (2,223) |  |  | 5,876 |
Amortization of unrealized loss on securities transferred to held-to-maturity |  | 3,814 |  |  | (1,770) |  |  | 2,044 |
Other comprehensive income |  | $ | 11,913 |  |  | $ | (3,993) |  |  | $ | 7,920 |
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, 2024 and 2023.
(dollars in thousands) |  | Securities Available-For-Sale |  | Securities Held-to-Maturity |  | Derivatives |  | Accumulated Other Comprehensive Income (Loss)
Three Months Ended June 30, 2024 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (127,316) |  |  | $ | (38,544) |  |  | $ | 92 |  |  | $ | (165,768) |
Other comprehensive income (loss) before reclassifications |  | 3,629 |  |  | — |  |  | (24) |  |  | 3,605 |
Amounts reclassified from accumulated other comprehensive income (loss) |  | (2) |  |  | — |  |  | — |  |  | (2) |
Amortization of unrealized loss on securities transferred to held-to-maturity |  | — |  |  | 1,322 |  |  | — |  |  | 1,322 |
Net other comprehensive income (loss) during period |  | 3,627 |  |  | 1,322 |  |  | (24) |  |  | 4,925 |
Balance at end of period |  | $ | (123,689) |  |  | $ | (37,222) |  |  | $ | 68 |  |  | $ | (160,843) |
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) |
Six Months Ended June 30, 2024 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (122,246) |  |  | $ | (39,929) |  |  | $ | (182) |  |  | $ | (162,357) |
Other comprehensive (loss) income before reclassifications |  | (1,437) |  |  | — |  |  | 250 |  |  | (1,187) |
Amounts reclassified from accumulated other comprehensive income (loss) |  | (6) |  |  | — |  |  | — |  |  | (6) |
Amortization of unrealized loss on securities transferred to held-to-maturity |  | — |  |  | 2,707 |  |  | — |  |  | 2,707 |
Net other comprehensive (loss) income during period |  | (1,443) |  |  | 2,707 |  |  | 250 |  |  | 1,514 |
Balance at end of period |  | $ | (123,689) |  |  | $ | (37,222) |  |  | $ | 68 |  |  | $ | (160,843) |
Six Months Ended June 30, 2023 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (154,773) |  |  | $ | (44,734) |  |  | $ | — |  |  | $ | (199,507) |
Other comprehensive income before reclassifications |  | 5,862 |  |  | — |  |  | — |  |  | 5,862 |
Amounts reclassified from accumulated other comprehensive income |  | 14 |  |  | — |  |  | — |  |  | 14 |
Amortization of unrealized loss on securities transferred to held-to-maturity |  | — |  |  | 2,044 |  |  | — |  |  | 2,044 |
Net other comprehensive income during period |  | 5,876 |  |  | 2,044 |  |  | — |  |  | 7,920 |
Balance at end of period |  | $ | (148,897) |  |  | $ | (42,690) |  |  | $ | — |  |  | $ | (191,587) |
The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2024 and 2023.
Details about Accumulated Other Comprehensive Income (Loss) Components |  | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) |  |
| Three Months Ended June 30, |  | Affected Line Item in Consolidated Statements of Income
(dollars in thousands) |  | 2024 |  | 2023 |
Realized gain (loss) on sale of investment securities |  | $ | 3 |  |  | $ | 2 |  |  | Net gain (loss) on sale of investment securities
Income tax benefit (expense) |  | (1) |  |  | — |  |  | Income tax expense
Total reclassifications for the periods |  | $ | 2 |  |  | $ | 2 |  |  |
Details about Accumulated Other Comprehensive Income (Loss) Components |  | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) |  |
| Six Months Ended June 30, |  | Affected Line Item in Consolidated Statements of Operations
(dollars in thousands) |  | 2024 |  | 2023 |
Realized gain (loss) on sale of investment securities |  | $ | 7 |  |  | $ | (19) |  |  | Net gain (loss) on sale of investment securities
Income tax benefit (expense) |  | (1) |  |  | 5 |  |  | Income tax expense
Total reclassifications for the periods |  | $ | 6 |  |  | $ | (14) |  |  |

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