Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Comprehensive Income (Loss)

Note 2 – Comprehensive Income (Loss)

The Company reports as comprehensive income all changes in shareholders’ equity during the year from sources other than shareholders. Other comprehensive income refers to all components (revenues, expenses, gains, and losses) of comprehensive income that are excluded from net income. The Company’s only component of other comprehensive income is unrealized gains and losses, net of income tax, on investment securities available for sale.

The following table presents the changes in accumulated other comprehensive loss for the three and six months ended June 30, 2024 and 2023:

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2024			2023			2024			2023
	(dollars in thousands)
Beginning balance	$	(26,213	)	$	(27,219	)	$	(25,100	)	$	(31,765	)
Other comprehensive income (loss) before reclassifications,    net of $22, $664, $354 and ($695) tax effect, respectively		(75	)		(2,225	)		(1,188	)		2,280
Amounts reclassified from accumulated other comprehensive loss,    net of $0, $2, $0, and ($8) tax effect, respectively		—			(7	)		—			34
Net current-period other comprehensive income (loss)		(75	)		(2,232	)		(1,188	)		2,314
Ending balance	$	(26,288	)	$	(29,451	)	$	(26,288	)	$	(29,451	)