NOTE 6 – ACCUMULATED OTHER COMPREHENSIVE INCOME
The following table presents the changes in accumulated other comprehensive income (“AOCI”) by component net of tax for the three and nine months ended September 30, 2020 and 2019, respectively:
(Dollars in thousands) | | Unrealized gains/(losses) on available-for-sale securities (a) | |
Balance as of June 30, 2020 | | $ | 3,761 | |
Other comprehensive income | | | 316 | |
Balance at September 30, 2020 | | $ | 4,077 | |
| | | | |
Balance as of December 31, 2019 | | $ | 1,842 | |
Other comprehensive income | | | 2,235 | |
Balance at September 30, 2020 | | $ | 4,077 | |
(Dollars in thousands) | | Unrealized gains/(losses) on available-for-sale securities (a) | |
Balance as of June 30, 2019 | | $ | 1,377 | |
Other comprehensive income | | | 783 | |
Amount reclassified from accumulated other comprehensive income | | | (3 | ) |
Period change | | | 780 | |
Balance at September 30, 2019 | | $ | 2,157 | |
| | | | |
Balance as of December 31, 2019 | | $ | (154 | ) |
Other comprehensive income | | | 2,464 | |
Amount reclassified from accumulated other comprehensive income | | | (153 | ) |
Period change | | | 2,311 | |
Balance at September 30, 2019 | | $ | 2,157 | |
| (a) | All amounts are net of tax. Amounts in parentheses indicate debits to AOCI. |
The following tables present significant amounts reclassified from or to each component of AOCI:
| | Amounts Reclassified from Accumulated Other | | Affected Line Item in |
| | Comprehensive Income | | the Statement Where |
(Dollars in thousands) | | For the Three Months Ended | | Net Income is |
Details about other comprehensive income | | September 30, 2020 | | | September 30, 2019 | | Presented |
| | | | | | | | | |
Unrealized gains on available-for-sale securities (a) | | $ | - | | | $ | 4 | | Investment securities gains on sale, net |
| | | - | | | | (1 | ) | Income taxes |
| | $ | - | | | $ | 3 | | |
| | Amount Reclassified from Accumulated Other | | Affected Line Item in |
| | Comprehensive Income | | the Statement Where |
(Dollars in thousands) | | For the Nine Months Ended | | Net Income is |
Details about other comprehensive income | | September 30, 2020 | | | September 30, 2019 | | Presented |
| | | | | | | | | |
Unrealized gains on available-for-sale securities (a) | | $ | - | | | $ | 194 | | Investment securities gains on sale, net |
| | | - | | | | (41 | ) | Income taxes |
| | $ | - | | | $ | 153 | | |
| (a) | For unrealized gains on available-for-sale securities, amounts in parentheses indicate expenses and other amounts indicate income. |
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