Comprehensive Income

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Comprehensive Income

Note 2 – Comprehensive Income

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 income (loss) for the three months ended March 31, 2020 and 2019:

	For the Three Months Ended March 31,
	2020			2019
	(dollars in thousands)
Beginning balance	$	323		$	(1,694	)
Other comprehensive income before reclassifications,    net of ($490) and ($219) tax effect, respectively		1,651			734
Amounts reclassified from accumulated other    comprehensive income, net of $11 and $0 tax effect, respectively		(47	)		—
Net current-period other comprehensive income		1,604			734
Ending balance	$	1,927		$	(960	)