ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

3 Months Ended

Mar. 31, 2020

ACCUMULATED OTHER COMPREHENSIVE LOSS

Summary of changes in Accumulated Other Comprehensive Income (Loss) balances, net of tax effects

	Three months ended
	March 31,
	2020		2019
Beginning balance	$	1,207	$	(473)
Cumulative effect of adopting new accounting standard ASU 2016-01, net of taxes		—		68
Balance net of cumulative effect of adopting ASU 2016-01	$	1,207	$	(405)
Other comprehensive income, net of tax:
Unrealized gain (loss) on securities available for sale
Unrealized holding gain (loss) arising during the period	$	6,539	$	385
Reclassification adjustment for gain included in net income		(975)		—
Tax effect		(1,756)		(127)
Net of tax	$	3,808	$	258
Unrealized gain (loss) on cash flow hedges
Unrealized holding gain (loss) arising during the period	$	(1,060)	$	—
Tax effect		334		—
Net of tax	$	(726)	$	—
Net current period other comprehensive income	$	3,082	$	258
Ending balance	$	4,289	$	(147)

Schedule of reclassifications out of accumulated other comprehensive income (loss)

The following table shows the amounts reclassified out of each component of accumulated other comprehensive income for the gain on the sale of securities during the first quarter of 2020 (in thousands):

	March 31,
		2020		2019	Affected line item in the Consolidated Statements of Operations
Amounts reclassified from accumulated other comprehensive income	$	975	$	—	Gain on sale of securities
Income tax expense		(387)		—	Income tax expense
Total reclassifications, net of income tax	$	588	$	—