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Other Comprehensive (Loss) Income (Tables)

9 Months Ended

Sep. 30, 2024

Other Comprehensive Income [Abstract]

Schedule of Components of Other Comprehensive (Loss) Income

The following table presents the components of other comprehensive (loss) income for the three and nine months ended September 30, 2024 and 2023.

(dollars in thousands)						Before Tax						Tax Effect						Net of Tax
Three Months Ended September 30, 2024
Net unrealized gain on securities available-for-sale						$	46,788					$	(11,450)					$	35,338
Less: Reclassification adjustment for net gain included in net income						(3)						1						(2)
Total unrealized gain on investment securities available-for-sale						46,785						(11,449)						35,336
Amortization of unrealized loss on securities transferred to held-to-maturity						1,768						(413)						1,355
Net unrealized loss on derivatives						(32)						7						(25)
Other comprehensive income						$	48,521					$	(11,855)					$	36,666
Three Months Ended September 30, 2023
Net unrealized loss on securities available-for-sale						$	(28,150)					$	6,836					$	(21,314)
Less: Reclassification adjustment for net gain included in net income						(5)						1						(4)
Total unrealized loss on investment securities available-for-sale						(28,155)						6,837						(21,318)
Amortization of unrealized loss on securities transferred to held-to-maturity						1,824						(424)						1,400
Other comprehensive loss						$	(26,331)					$	6,413					$	(19,918)
Nine Months Ended September 30, 2024
Net unrealized gain on securities available-for-sale						$	44,907					$	(11,006)					$	33,901
Less: Reclassification adjustment for net gain included in net income						(10)						2						(8)
Total unrealized gain on investment securities available-for-sale						44,897						(11,004)						33,893
Amortization of unrealized loss on securities transferred to held-to-maturity						5,224						(1,162)						4,062
Net unrealized gain on derivatives						298						(73)						225
Other comprehensive income						$	50,419					$	(12,239)					$	38,180
Nine Months Ended September 30, 2023
Net unrealized loss on securities available-for-sale						$	(20,070)					$	4,618					$	(15,452)
Less: Reclassification adjustment for net loss included in net income						14						(4)						10
Total unrealized loss on investment securities available-for-sale						(20,056)						4,614						(15,442)
Amortization of unrealized loss on securities transferred to held-to-maturity						5,638						(2,194)						3,444
Other comprehensive loss						$	(14,418)					$	2,420					$	(11,998)

Schedule of Changes in Each Component of Accumulated Other Comprehensive income (loss), Net of Tax

The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, for the three and nine months ended September 30, 2024 and 2023.

(dollars in thousands)						Securities Available-For-Sale						Securities Held-to-Maturity						Derivatives						Accumulated Other Comprehensive Income (Loss)
Three Months Ended September 30, 2024
Balance at beginning of period						$	(123,689)					$	(37,222)					$	68					$	(160,843)
Other comprehensive income (loss) before reclassifications						35,338						—						(25)						35,313
Amounts reclassified from accumulated other comprehensive income (loss)						(2)						—						—						(2)
Amortization of unrealized loss on securities transferred to held-to-maturity						—						1,355						—						1,355
Net other comprehensive income (loss) during period						35,336						1,355						(25)						36,666
Balance at end of period						$	(88,353)					$	(35,867)					$	43					$	(124,177)
Three Months Ended September 30, 2023
Balance at beginning of period						$	(148,897)					$	(42,690)					$	—					$	(191,587)
Other comprehensive loss before reclassifications						(21,314)						—						—						(21,314)
Amounts reclassified from accumulated other comprehensive income (loss)						(4)						—						—						(4)
Amortization of unrealized loss on securities transferred to held-to-maturity						—						1,400						—						1,400
Net other comprehensive (loss) income during period						(21,318)						1,400						—						(19,918)
Balance at end of period						$	(170,215)					$	(41,290)					$	—					$	(211,505)
Nine Months Ended September 30, 2024
Balance at beginning of period						$	(122,246)					$	(39,929)					$	(182)					$	(162,357)
Other comprehensive (loss) income before reclassifications						33,901						—						225						34,126
Amounts reclassified from accumulated other comprehensive income (loss)						(8)						—						—						(8)
Amortization of unrealized loss on securities transferred to held-to-maturity						—						4,062						—						4,062
Net other comprehensive income (loss) during period						33,893						4,062						225						38,180
Balance at end of period						$	(88,353)					$	(35,867)					$	43					$	(124,177)
Nine Months Ended September 30, 2023
Balance at beginning of period						$	(154,773)					$	(44,734)					$	—					$	(199,507)
Other comprehensive income before reclassifications						(15,452)						—						—						(15,452)
Amounts reclassified from accumulated other comprehensive income						10						—						—						10
Amortization of unrealized loss on securities transferred to held-to-maturity						—						3,444						—						3,444
Net other comprehensive (loss) income during period						(15,442)						3,444						—						(11,998)
Balance at end of period						$	(170,215)					$	(41,290)					$	—					$	(211,505)

Schedule of Amounts Reclassified Out of Accumulated Other Comprehensive income (loss)

The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2024 and 2023.

Details about Accumulated Other Comprehensive Income (Loss) Components						Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
						Three Months Ended September 30,												Affected Line Item in Consolidated Statements of Income
(dollars in thousands)						2024						2023
Realized gain (loss) on sale of investment securities						$	3					$	5					Net gain (loss) on sale of investment securities
Income tax benefit (expense)						(1)						(1)						Income tax expense
Total reclassifications for the periods						$	2					$	4
Details about Accumulated Other Comprehensive Income (Loss) Components						Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
						Nine Months Ended September 30,												Affected Line Item in Consolidated Statements of Operations
(dollars in thousands)						2024						2023
Realized gain (loss) on sale of investment securities						$	10					$	(14)					Net gain (loss) on sale of investment securities
Income tax benefit (expense)						(2)						4						Income tax expense
Total reclassifications for the periods						$	8					$	(10)

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- Definition

Other Comprehensive Income

+ References

No definition available.

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Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss).

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- Definition

Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20

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- Definition

Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 1
-Section 45
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1

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