Note 3 - Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

3. Accumulated other comprehensive income

The following tables illustrate the changes in accumulated other comprehensive income by component and the details about the components of accumulated other comprehensive income as of and for the periods indicated:

As of and for the six months ended June 30, 2024
	Unrealized gains
	(losses) on			Securities
	available-for-sale			transferred to
(dollars in thousands)	debt securities			held-to-maturity			Total
Beginning balance	$	(40,760	)	$	(15,707	)	$	(56,467	)
Other comprehensive (loss) income before reclassifications, net of tax		(1,379	)		-			(1,379	)
Amounts reclassified from accumulated other comprehensive income, net of tax		-			921			921
Net current-period other comprehensive (loss) income		(1,379	)		921			(458	)
Ending balance	$	(42,139	)	$	(14,786	)	$	(56,925	)

As of and for the three months ended June 30, 2024
	Unrealized gains
	(losses) on			Securities
	available-for-sale			transferred to
(dollars in thousands)	debt securities			held-to-maturity			Total
Beginning balance	$	(42,668	)	$	(15,246	)	$	(57,914	)
Other comprehensive income before reclassifications, net of tax		529			-			529
Amounts reclassified from accumulated other comprehensive income, net of tax		-			460			460
Net current-period other comprehensive income		529			460			989
Ending balance	$	(42,139	)	$	(14,786	)	$	(56,925	)

As of and for the six months ended June 30, 2023
	Unrealized gains
	(losses) on			Securities
	available-for-sale			transferred to
(dollars in thousands)	securities			held-to-maturity			Total
Beginning balance	$	(53,624	)	$	(17,528	)	$	(71,152	)
Other comprehensive income before reclassifications, net of tax		4,982			-			4,982
Amounts reclassified from accumulated other comprehensive income, net of tax		1			901			902
Net current-period other comprehensive income		4,983			901			5,884
Ending balance	$	(48,641	)	$	(16,627	)	$	(65,268	)

As of and for the three months ended June 30, 2023
	Unrealized gains
	(losses) on			Securities
	available-for-sale			transferred to
(dollars in thousands)	debt securities			held-to-maturity			Total
Beginning balance	$	(45,862	)	$	(17,076	)	$	(62,938	)
Other comprehensive (loss) income before reclassifications, net of tax		(2,779	)		-			(2,779	)
Amounts reclassified from accumulated other comprehensive income, net of tax		-			449			449
Net current-period other comprehensive (loss) income		(2,779	)		449			(2,330	)
Ending balance	$	(48,641	)	$	(16,627	)	$	(65,268	)

Details about accumulated other		Amount reclassified from accumulated											Affected line item in the statement
comprehensive income components		other comprehensive income											where net income is presented
	For the three months ended June 30,						For the six months ended June 30,
(dollars in thousands)	2024			2023			2024			2023
Unrealized (losses) gains on AFS debt securities	$	-		$	-		$	-		$	(1	)	Gain (loss) on sale of investment securities
Amortization of unrealized loss on held-to-maturity securities		(582	)		(568	)		(1,166	)		(1,140	)	Interest income on investment securities
Total reclassifications for the period		(582	)		(568	)		(1,166	)		(1,141	)	Income before income taxes
Income tax effect		122			119			245			239		Provision for income taxes
Total reclassifications for the period	$	(460	)	$	(449	)	$	(921	)	$	(902	)	Net income