Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2024

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


	Unrealized Gain (Loss) on Available for Sale Securities		Unrealized Gain (Loss) on Securities Transferred from Available for Sale to Held to Maturity		Accumulated Other Comprehensive Loss
Balance at December 31, 2022	$	(13,135)	$	(4,513)	$	(17,648)
Unrealized holding gains, net of tax of $74	280		—		280
Amortization of unrealized holding losses, net of tax of $174	—		656		656
Reclassification adjustment, net of tax of $66	246		—		246
Balance at September 30, 2023	$	(12,609)	$	(3,857)	$	(16,466)
Balance at December 31, 2023	$	(7,931)	$	(3,634)	$	(11,565)
Unrealized holding gains, net of tax of $932	3,507		—		3,507
Amortization of unrealized holding losses, net of tax of $166	—		627		627
Reclassification adjustment, net of tax of $14	—		51		51
Balance at September 30, 2024	$	(4,424)	$	(2,956)	$	(7,380)

The following table presents the amounts reclassified out of accumulated other comprehensive loss, net of tax for the period ending September 30, 2024 (dollars in thousands):


	September 30, 2024		Line Item in the Consolidated Statements of Income
Securities held to maturity
Net securities loss reclassified into earnings	$	(65)	Loss on sale of securities
Related income tax benefit	14		Income tax expense
Total reclassifications into net income	$	(51)	Net of tax

The following table presents the amounts reclassified out of accumulated other comprehensive loss, net of tax for the period ending September 30, 2023 (dollars in thousands):


	September 30, 2023		Line Item in the Consolidated Statements of Income
Securities available for sale
Net securities loss reclassified into earnings	$	(312)	Loss on sale of securities
Related income tax benefit	66		Income tax expense
Total reclassifications into net income	$	(246)	Net of tax