Comprehensive Income

3 Months Ended

Mar. 31, 2024

Note 13 – Comprehensive Income

The following tables present the reclassified components of accumulated other comprehensive income (“AOCI”) as of and for the periods shown:


	Three Months Ended March 31,
(Dollars in thousands)	2024		2023
Details about AOCI components	Amount reclassified from AOCI		Amount reclassified from AOCI		Affected income statement line item
Available-for-sale securities
Realized gain (loss) recognized in income	$	658	$	(1,536)	Gain (loss) on sale of available-for-sale securities

Income tax effect	(158)		369		Income taxes
Realized gain (loss) recognized in income, net of tax	500		(1,167)
Defined benefit pension plan items
Amortization of net actuarial loss	(43)		$	(29)	Salaries and employee benefits

Income tax effect	10		7		Income taxes
Defined benefit pension plan items, net of tax	(33)		(22)
Investment hedge
Carrying value adjustment	—		334		Interest on investment securities

Income tax effect	—		(80)		Income taxes
Investment hedge, net of tax	—		254

Total reclassifications	$	467	$	(935)


(Dollars in thousands)	Unrealized gains (losses) on available for-sale securities		Defined benefit pension plan items		Investment hedge		Total
Balance at December 31, 2023	$	(25,871)	$	(2,994)	$	34	$	(28,831)
Other comprehensive income (loss) before reclassification	(1,957)		456		—		(1,501)
Amounts reclassified from accumulated other comprehensive income (loss)	(500)		33		—		(467)
Net current period other comprehensive income (loss)	(2,457)		489		—		(1,968)
Balance at March 31, 2024	$	(28,328)	$	(2,505)	$	34	$	(30,799)













Balance at December 31, 2022	$	(34,829)	$	(3,129)	$	254	$	(37,704)
Other comprehensive income (loss) before reclassification	5,852		(21)		—		5,831
Amounts reclassified from accumulated other comprehensive income (loss)	1,167		22		(254)		935
Net current period other comprehensive income (loss)	7,019		1		(254)		6,766
Balance at March 31, 2023	$	(27,810)	$	(3,128)	$	—	$	(30,938)