Stock Warrants

12 Months Ended

Dec. 31, 2020

Changes in Accumulated Other Comprehensive Income

Amounts reclassified from accumulated other comprehensive income (“AOCI”) and the affected line items in the consolidated statements of income were as follows:


	For the Year Ended December 31,						Affected Line Item in the
	2020		2019		2018		Statements of Income
	(Dollars in thousands)
Unrealized gains on available-for-sale securities	$	1,704	$	987	$	538	Gain on sale of available-for-sale debt securities

Less: tax effect	415		242		132		Income tax expense
Net reclassified amount	$	1,289	$	745	$	406

Stock WarrantsThe Company had 113,500 and 113,500 outstanding, fully vested warrants to purchase common stock at a strike price of $5.00 per share as of December 31, 2020 and 2019, respectively. The 113,500 warrants were modified during 2018 to extend the expiration date from June 30, 2019 to April 26, 2023 in accordance with the Chairman Emeritus Agreement. The strike price continues to be $5.00 per share. During the period ended December 31, 2019, 10,000 warrants were forfeited.