Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2025

Note 10 – Other Comprehensive Income (Loss)

The table below presents the components of other comprehensive income (loss).


(dollars in thousands)	Before Tax		Tax Effect		Net of Tax
For the Three Months Ended June 30, 2025
Net unrealized gain (loss) on securities available-for-sale	$	13,296	$	(3,055)	$	10,241
Reclassification adjustment for net gain (loss) included in net income (loss)	1,854		(669)		1,185
Total unrealized gain (loss) on securities available-for-sale	15,150		(3,724)		11,426

Amortization of unrealized gain (loss) on securities transferred to held-to-maturity	1,633		(378)		1,255

Net unrealized gain (loss) on derivatives	(142)		35		(107)


Other comprehensive income (loss)	$	16,641	$	(4,067)	$	12,574

For the Three Months Ended June 30, 2024
Net unrealized gain (loss) on securities available-for-sale	$	4,812	$	(1,183)	$	3,629
Reclassification adjustment for net gain (loss) included in net income (loss)	(3)		1		(2)
Total unrealized gain (loss) on securities available-for-sale	4,809		(1,182)		3,627
Amortization of unrealized gain (loss) on securities transferred to held-to-maturity	1,725		(403)		1,322


Net unrealized gain (loss) on derivatives	(32)		8		(24)

Total unrealized gain (loss) on derivatives	(32)		8		(24)
Other comprehensive income (loss)	$	6,502	$	(1,577)	$	4,925

For the Six Months Ended June 30, 2025
Net unrealized gain (loss) on securities available-for-sale	$	38,968	$	(9,374)	$	29,594
Reclassification adjustment for net gain (loss) included in net income (loss)	1,850		(670)		1,180
Total unrealized gain (loss) on securities available-for-sale	40,818		(10,044)		30,774

Amortization of unrealized gain (loss) on securities transferred to held-to-maturity	3,197		(738)		2,459

Net unrealized gain (loss) on derivatives	(166)		41		(125)


Other comprehensive income (loss)	$	43,849	$	(10,741)	$	33,108

For the Six Months Ended June 30, 2024
Net unrealized gain (loss) on securities available-for-sale	$	(1,881)	$	444	$	(1,437)
Reclassification adjustment for net gain (loss) included in net income (loss)	(7)		1		(6)
Total unrealized gain (loss) on securities available-for-sale	(1,888)		445		(1,443)
Amortization of unrealized gain (loss) on securities transferred to held-to-maturity	3,456		(749)		2,707


Net unrealized gain (loss) on derivatives	331		(81)		250


Other comprehensive income (loss)	$	1,899	$	(385)	$	1,514

The table below presents the changes in each component of accumulated other comprehensive income (loss), net of tax.


(dollars in thousands)	Available-for-Sale Securities		Held-to-Maturity Securities		Derivatives		Accumulated Other Comprehensive Income (Loss)
For the Three Months Ended June 30, 2025
Balance at beginning of period	$	(87,504)	$	(33,435)	$	—	$	(120,939)
Other comprehensive income (loss) before reclassifications	10,241		—		(107)		10,134
Amortization of unrealized loss on securities transferred to held-to-maturity	—		1,255		—		1,255
Amounts reclassified from accumulated other comprehensive income (loss)	1,185		—		—		1,185
Net other comprehensive income (loss) during period	11,426		1,255		(107)		12,574
Balance at end of period	$	(76,078)	$	(32,180)	$	(107)	$	(108,365)

For the 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
Amortization of unrealized loss on securities transferred to held-to-maturity	—		1,322		—		1,322
Amounts reclassified from accumulated other comprehensive income (loss)	(2)		—		—		(2)
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)

For the Six Months Ended June 30, 2025
Balance at beginning of period	$	(106,852)	$	(34,639)	$	18	$	(141,473)
Other comprehensive income (loss) before reclassifications	29,594		—		(125)		29,469
Amortization of unrealized loss on securities transferred to held-to-maturity	—		2,459		—		2,459
Amounts reclassified from accumulated other comprehensive income (loss)	1,180		—		—		1,180
Net other comprehensive income (loss) during period	30,774		2,459		(125)		33,108
Balance at end of period	$	(76,078)	$	(32,180)	$	(107)	$	(108,365)

For the Six Months Ended June 30, 2024
Balance at beginning of period	$	(122,246)	$	(39,929)	$	(182)	$	(162,357)
Other comprehensive income (loss) before reclassifications	(1,437)		—		250		(1,187)
Amortization of unrealized loss on securities transferred to held-to-maturity	—		2,707		—		2,707
Amounts reclassified from accumulated other comprehensive income (loss)	(6)		—		—		(6)
Net other comprehensive income (loss) during period	(1,443)		2,707		250		1,514
Balance at end of period	$	(123,689)	$	(37,222)	$	68	$	(160,843)

The table below presents the amounts reclassified out of each component of accumulated other comprehensive income (loss).


	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)								Affected Line Item in the Statement Where Net Income (Loss) is Presented
	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(dollars in thousands)	2025		2024		2025		2024
Realized gain (loss) on sale of investment securities	$	(1,854)	$	3	$	(1,850)	$	7	Net gain (loss) on sale of investment securities

Income tax benefit (expense)	669		(1)		670		(1)		Income tax expense
Total	$	(1,185)	$	2	$	(1,180)	$	6	Net Income (Loss)