In this opening chapter, 'After the Flood,' Stephen King sets the stage for a haunting narrative centered around the town of Derry, Maine. The chapter primarily focuses on Georgie Denbrough, a young boy who is excited to play outside on a rainy day. He constructs a paper boat, which he names 'Lady of the Lake,' and sets it afloat in the flooded streets, enjoying the thrill as it sails along the water. This innocent moment is soon overshadowed by the impending sense of dread that permeates the chapter.

As Georgie chases after his boat, it becomes stuck in a storm drain. Peering into the darkness, he encounters a sinister figure—Pennywise the Clown—who presents himself with charm and allure, luring Georgie closer. Pennywise, a shape-shifting entity, embodies the very essence of fear, transforming the innocent childhood experience into a terrifying encounter. He offers Georgie a chance to retrieve his boat, showcasing a deceptive friendliness that masks his true malevolence.

Despite the warnings of danger, Georgie is drawn in by Pennywise's enchanting voice and captivating promises. The clown manipulates Georgie's curiosity, appealing to his childhood innocence in a way that underscores the horror of the situation. The tension escalates as Pennywise reveals his true nature, exposing his sharp teeth and predatory instincts. In a shocking moment, Georgie is attacked, sealing his fate as he disappears into the darkness, leaving behind a sense of loss and foreboding.

The chapter concludes with the aftermath of Georgie's disappearance, creating a chilling atmosphere that hints at the evil residing in Derry. The town is haunted by tragedies that seem to repeat every 27 years, hinting at a cyclical pattern of horror that will unfold throughout the story. Georgie’s fate serves as a catalyst for the events that follow, igniting the fears of the townsfolk and foreshadowing the terror that will eventually draw the Losers' Club together. This opening establishes the tone for the novel, blending childhood innocence with the lurking presence of malevolence, and raises critical questions about fear, loss, and the darkness that can exist beneath the surface of a seemingly normal town.