Changes in and Reclassifications Out of Accumulated Other Comprehensive (Loss) Income

12 Months Ended

Jun. 30, 2022

Changes in and Reclassifications Out of Accumulated Other Comprehensive (Loss) Income

Changes in and Reclassifications Out of Accumulated Other Comprehensive (Loss) Income

Note 4 – Changes in and Reclassifications Out of Accumulated Other Comprehensive (Loss) Income

The following tables present the changes in the balances of each component of accumulated other comprehensive income (loss) (“AOCI”) for the years ended June 30, 2022 and 2021. All amounts are presented net of tax.

(Dollars in thousands)
	Unrealized
	Losses
	on Securities
Accumulated Other Comprehensive Income (Loss)(1)	Available for Sale
Balance at June 30, 2020	$	76
Other comprehensive loss before reclassifications		(112)
Amounts reclassified from accumulated other comprehensive loss		(28)
Period change		(140)
Balance at June 30, 2021	$	(64)
Other comprehensive loss before reclassifications		(15,245)
Amounts reclassified from accumulated other comprehensive loss		(48)
Period change		(15,293)
Balance at June 30, 2022	$	(15,357)

(1) All amounts are net of tax.  Related income tax expense is calculated using an income tax rate of approximately 23% and 22% for 2022 and 2021, respectively.

The following table presents reclassifications out of AOCI by component for the years ended June 30, 2022 and 2021:

(Dollars in thousands)	Amounts Reclassified from Accumulated
	Other Comprehensive Loss (2)
Details about Accumulated Other Comprehensive	Year Ended June 30,				Affected Line Item in the
Loss Components	2022		2021		Consolidated Statements of Income
Securities available for sale:
Net securities gains reclassified into net income	$	62	$	36	Net gain on sale of securities
Related income tax expense		(14)		(8)	Income tax expense
	$	48	$	28