Balance Sheet September 30, 2024 Transaction accounting adjustment for accumulated other comprehensive loss Reversal of William Penn accumulated other comprehensive loss . . . . . . . . . . . . . . . . . . . . . $17,191 Total transaction accounting adjustment for accumulated other comprehensive loss . . . . $17,191 (3) Securities available-for-sale were recorded at fair value at September 30, 2024, therefore no balance sheet adjustment is necessary. Adjustment to statements of income includes prospective reclassification of existing available-for-sale securities fair value adjustment of $22.4 million to an amortizing discount which will be amortized into income based on the expected life of securities of 6 years. Balance Sheet Statements of Income September 30, 2024 Nine Months Ended September 30, 2024 Twelve Months Ended December 31, 2023 Securities available for sale ................................. $— $2,794 $3,726 Total securities available for sale . . . . . . . . . . . . . . . . . . . . . . . . . . . $— $2,794 $3,726 Securities held-to-maturity fair value adjustment to reflect at fair value discount of $13.4 million at September 30, 2024, sheet adjustment is necessary. Adjustment to statements of income to amortize the discount into income based on the expected life of securities of 6 years. Balance Sheet Statements of Income September 30, 2024 Nine Months Ended September 30, 2024 Twelve Months Ended December 31, 2023 Securities held to maturity Securities held to maturity fair value adjustment . . . . . . . . . . . . . . . . . $(13,447) $1,681 $2,241 Total adjustments for securities held to maturity . . . . . . . . . . . . . . . $(13,447) $1,681 $2,241 34
RkJQdWJsaXNoZXIy NTYwMjI1