Metropolitan Bank Holding Corp. - 10-K filing on 2022-03-10

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Dec. 31, 2021

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Summary of changes in Accumulated Other Comprehensive Income (Loss) balances, net of tax effects

The following table summarizes the changes in Accumulated Other Comprehensive Income (Loss) balances, net of tax effects at the dates indicated (in thousands):



	Year Ended December 31,
	2021		2020
Beginning balance	$	973	$	1,207

Other comprehensive income, net of tax
Unrealized gain (loss) on securities available for sale:
Unrealized holding gain (loss) arising during the period		(14,722)		4,877
Reclassification adjustment for (gain) loss included in net income		(609)		(3,286)
Tax effect		4,795		(514)
Net of tax		(10,536)		1,077

Unrealized gain (loss) on cash flow hedges:
Unrealized holding gain (loss) arising during the period		2,957		(1,925)
Tax effect		(898)		614
Net of tax		2,059		(1,311)

Net current period other comprehensive income (loss)		(8,477)		(234)

Ending balance	$	(7,504)	$	973

Schedule of reclassifications out of accumulated other comprehensive income

The following table shows the amounts reclassified out of each component of accumulated other comprehensive income for the gain on the sale of securities (in thousands):


	Year Ended December 31,
		2021		2020	Affected line item in the Consolidated Statements of Operations
Realized gain on sale of available-for-sale securities	$	609	$	3,286	Gain on Sale of Securities
Income tax benefit		(197)		(1,036)	Income tax expense
Total reclassifications, net of income tax	$	412	$	2,250