COMPREHENSIVE (LOSS) INCOME

3 Months Ended

Mar. 31, 2021

COMPREHENSIVE (LOSS) INCOME

COMPREHENSIVE (LOSS) INCOME

14.COMPREHENSIVE (LOSS) INCOME

Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities are reported as a separate component of the stockholders’ equity section of the Consolidated Balance Sheets, such items, along with net income, are components of comprehensive income (loss).

The components of accumulated other comprehensive income (loss), included in stockholders’ equity, are as follows:

	March 31,		December 31,
	2021		2020
	(in thousands)
Cash flow hedge:
Net unrealized gain (loss)	$	438	$	(1,407)
Related tax effect		(122)		394
Total accumulated other comprehensive income (loss)	$	316	$	(1,013)
Securities available for sale:
Net unrealized gain (loss)	$	(611)	$	4,102
Related tax effect		135		(904)
Total accumulated other comprehensive income (loss)	$	(476)	$	3,198

The following tables present changes in accumulated other comprehensive income (loss) by component for the three months ended March 31, 2021 and 2020:

	Three Months Ended March 31,
	2021						2020
	Available		Cash				Available
	for Sale		Flow				for Sale
	Securities		Hedge		Total		Securities
	(in thousands)
Balance at beginning of period	$	3,198	$	(1,013)	$	2,185	$	1,480
Other comprehensive income (loss) before reclassifications		(4,713)		1,733		(2,980)		6,018
Amounts reclassified to accumulated other comprehensive income for transfer of securities to available for sale		—		—		—		522
Amounts reclassified from accumulated other comprehensive income (loss)		—		112		112		(2,525)
Net current period other comprehensive income (loss)		(4,713)		1,845		(2,868)		4,015
Related tax effect		1,039		(516)		523		(1,237)
Balance at end of period	$	(476)	$	316	$	(160)	$	4,258