Changes in and Reclassifications Out of Accumulated Other Comprehensive Loss

3 Months Ended

Sep. 30, 2023

Changes in and Reclassifications Out of Accumulated Other Comprehensive Loss

Changes in and Reclassifications Out of Accumulated Other Comprehensive Loss

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

The following tables present the changes in the balances of each component of accumulated other comprehensive loss (“AOCL”) for the three months ended September 30, 2023 and 2022.

(Dollars in thousands)
	Unrealized Losses on Securities
	Available for Sale
Accumulated Other Comprehensive Loss (1)	2023		2022
Balance at June 30,	$	(23,378)	$	(15,357)
Other comprehensive loss before reclassifications		(4,587)		(7,750)
Amounts reclassified from accumulated other comprehensive loss		—		—
Period change		(4,587)		(7,750)
Balance at September 30,	$	(27,965)	$	(23,107)

(1) All amounts are net of tax. Related income tax expense is calculated using an income tax rate approximating 23% for both 2023 and 2022.

There were no reclassifications out of AOCL during the three months ended September 30, 2023 and 2022.