Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Income (Loss)

v3.24.0.1
Accumulated Other Comprehensive Income (Loss)
12 Months Ended
Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income (Loss)

Note 12 — Accumulated Other Comprehensive Income (Loss)

Activity in accumulated other comprehensive income for the year ended December 31, 2023, 2022 and 2021 was as follows:

 

 

 

Unrealized
Gains and
Losses on
Available for
Sale Securities

 

 

Unrealized
Gains and
Losses on
Cash Flow Hedge

 

 

Tax Benefit
(Expense)

 

 

Total

 

 

 

(in thousands)

 

For the year ended December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

(124,958

)

 

$

 

 

$

35,973

 

 

$

(88,985

)

Other comprehensive income (loss) before reclassification

 

 

21,795

 

 

 

306

 

 

 

(6,351

)

 

 

15,750

 

Reclassification from accumulated other comprehensive income

 

 

1,871

 

 

 

 

 

 

(564

)

 

 

1,307

 

Net current period other comprehensive income

 

 

23,666

 

 

 

306

 

 

 

(6,915

)

 

 

17,057

 

Balance at end of period

 

$

(101,292

)

 

$

306

 

 

$

29,058

 

 

$

(71,928

)

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

(11,864

)

 

$

 

 

$

3,421

 

 

$

(8,443

)

Other comprehensive income (loss) before reclassification

 

 

(113,094

)

 

 

 

 

 

32,552

 

 

 

(80,542

)

Net current period other comprehensive income

 

 

(113,094

)

 

 

 

 

 

32,552

 

 

 

(80,542

)

Balance at end of period

 

$

(124,958

)

 

$

 

 

$

35,973

 

 

$

(88,985

)

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

4,323

 

 

$

 

 

$

(1,247

)

 

$

3,076

 

Other comprehensive income (loss) before reclassification

 

 

(16,686

)

 

 

 

 

 

4,668

 

 

 

(12,018

)

Reclassification from accumulated other comprehensive income

 

 

499

 

 

 

 

 

 

 

 

 

499

 

Net current period other comprehensive income

 

 

(16,187

)

 

 

 

 

 

4,668

 

 

 

(11,519

)

Balance at end of period

 

$

(11,864

)

 

$

 

 

$

3,421

 

 

$

(8,443

)

 

For the year ended December 31, 2023, there was a $1.9 million reclassification from accumulated other comprehensive income to net loss on sales of securities in noninterest income. Net unrealized losses of $1.7 million related to these sold securities had previously been recorded in accumulated other comprehensive income or loss.

For the year ended December 31, 2022, there was no sale of securities.

For the year ended December 31, 2021, there was a $0.5 million reclassification from accumulated other comprehensive income to net loss on sales of securities in noninterest income. Net unrealized losses of $0.1 million related to these sold securities had previously been recorded in accumulated other comprehensive income or loss.