| Summary of components of other comprehensive income (loss) |
The following tables present the components of other comprehensive income for the three and six months ended June 30, 2025 and 2024: | | | | | | | | | | (dollars in thousands) | | Before Tax | | Tax Effect | | Net of Tax | Three Months Ended June 30, 2025 | | | | | | | | | | Net Unrealized Loss on Available for Sale Securities | | $ | (479) | | $ | 138 | | $ | (341) | Less: Reclassification Adjustment for Net Gains Included in Net Income | | | (474) | | | 136 | | | (338) | Total Unrealized Loss | | | (953) | | | 274 | | | (679) | | | | | | | | | | | Net Unrealized Loss on Cash Flow Hedge | | | (1,455) | | | 417 | | | (1,038) | Less: Reclassification Adjustment for Gains Included in Net Income | | | (1,617) | | | 465 | | | (1,152) | Total Unrealized Loss | | | (3,072) | | | 882 | | | (2,190) | | | | | | | | | | | Other Comprehensive Loss | | $ | (4,025) | | $ | 1,156 | | $ | (2,869) | | | | | | | | | | | Three Months Ended June 30, 2024 | | | | | | | | | | Net Unrealized Gain on Available for Sale Securities | | $ | 1,168 | | $ | (336) | | $ | 832 | Less: Reclassification Adjustment for Net Gains Included in Net Income | | | (320) | | | 92 | | | (228) | Total Unrealized Gain | | | 848 | | | (244) | | | 604 | | | | | | | | | | | Net Unrealized Gain on Cash Flow Hedge | | | 2,036 | | | (585) | | | 1,451 | Less: Reclassification Adjustment for Gains Included in Net Income | | | (2,329) | | | 670 | | | (1,659) | Total Unrealized Loss | | | (293) | | | 85 | | | (208) | | | | | | | | | | | Other Comprehensive Income | | $ | 555 | | $ | (159) | | $ | 396 |
| | | | | | | | | | (dollars in thousands) | | Before Tax | | Tax Effect | | Net of Tax | Six Months Ended June 30, 2025 | | | | | | | | | | Net Unrealized Gain on Available for Sale Securities | | $ | 7,208 | | $ | (2,071) | | $ | 5,137 | Less: Reclassification Adjustment for Net Gains Included in Net Income | | | (475) | | | 137 | | | (338) | Total Unrealized Gain | | | 6,733 | | | (1,934) | | | 4,799 | | | | | | | | | | | Net Unrealized Loss on Cash Flow Hedge | | | (4,497) | | | 1,292 | | | (3,205) | Less: Reclassification Adjustment for Gains Included in Net Income | | | (3,449) | | | 991 | | | (2,458) | Total Unrealized Loss | | | (7,946) | | | 2,283 | | | (5,663) | | | | | | | | | | | Other Comprehensive Loss | | $ | (1,213) | | $ | 349 | | $ | (864) | | | | | | | | | | | Six Months Ended June 30, 2024 | | | | | | | | | | Net Unrealized Gain on Available for Sale Securities | | $ | 1,403 | | $ | (403) | | $ | 1,000 | Less: Reclassification Adjustment for Net Gains Included in Net Income | | | (413) | | | 119 | | | (294) | Total Unrealized Gain | | | 990 | | | (284) | | | 706 | | | | | | | | | | | Net Unrealized Gain on Cash Flow Hedge | | | 7,748 | | | (2,227) | | | 5,521 | Less: Reclassification Adjustment for Gains Included in Net Income | | | (4,632) | | | 1,331 | | | (3,301) | Total Unrealized Gain | | | 3,116 | | | (896) | | | 2,220 | | | | | | | | | | | Other Comprehensive Income | | $ | 4,106 | | $ | (1,180) | | $ | 2,926 |
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| Summary of changes in each component of accumulated other comprehensive income (loss), net of tax |
The following tables present the changes in each component of accumulated other comprehensive income, net of tax, for the three and six months ended June 30, 2025 and 2024: | | | | | | | | | | | | | | | | Accumulated | | | Available For | | | | | Other Comprehensive | (dollars in thousands) | | Sale Securities | | Cash Flow Hedge | | Income (Loss) | Three Months Ended June 30, 2025 | | | | | | | | | | Balance at Beginning of Period | | $ | (22,265) | | $ | 10,906 | | $ | (11,359) | Other Comprehensive (Loss) Before Reclassifications | | | (341) | | | (1,037) | | | (1,378) | Amounts Reclassified from Accumulated Other Comprehensive Income | | | (338) | | | (1,153) | | | (1,491) | Net Other Comprehensive Income (Loss) During Period | | | (679) | | | (2,190) | | | (2,869) | Balance at End of Period | | $ | (22,944) | | $ | 8,716 | | $ | (14,228) | | | | | | | | | | | Three Months Ended June 30, 2024 | | | | | | | | | | Balance at Beginning of Period | | $ | (31,618) | | $ | 15,902 | | $ | (15,716) | Other Comprehensive Income Before Reclassifications | | | 832 | | | 1,451 | | | 2,283 | Amounts Reclassified from Accumulated Other Comprehensive Income | | | (228) | | | (1,659) | | | (1,887) | Net Other Comprehensive Income (Loss) During Period | | | 604 | | | (208) | | | 396 | Balance at End of Period | | $ | (31,014) | | $ | 15,694 | | $ | (15,320) |
| | | | | | | | | | | | | | | | Accumulated | | | Available For | | | | | Other Comprehensive | (dollars in thousands) | | Sale Securities | | Cash Flow Hedge | | Income (Loss) | Six Months Ended June 30, 2025 | | | | | | | | | | Balance at Beginning of Period | | $ | (27,743) | | $ | 14,379 | | $ | (13,364) | Other Comprehensive Income (Loss) Before Reclassifications | | | 5,137 | | | (3,205) | | | 1,932 | Amounts Reclassified from Accumulated Other Comprehensive Income | | | (338) | | | (2,458) | | | (2,796) | Net Other Comprehensive Income (Loss) During Period | | | 4,799 | | | (5,663) | | | (864) | Balance at End of Period | | $ | (22,944) | | $ | 8,716 | | $ | (14,228) | | | | | | | | | | | Six Months Ended June 30, 2024 | | | | | | | | | | Balance at Beginning of Period | | $ | (31,720) | | $ | 13,474 | | $ | (18,246) | Other Comprehensive Income Before Reclassifications | | | 1,000 | | | 5,521 | | | 6,521 | Amounts Reclassified from Accumulated Other Comprehensive Income | | | (294) | | | (3,301) | | | (3,595) | Net Other Comprehensive Income During Period | | | 706 | | | 2,220 | | | 2,926 | Balance at End of Period | | $ | (31,014) | | $ | 15,694 | | $ | (15,320) |
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