Comprehensive Income and Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

Comprehensive Income and Accumulated Other Comprehensive Loss

14.Comprehensive Income and Accumulated Other Comprehensive Loss

Comprehensive income includes net income plus unrealized gains (losses) on our available-for-sale investment securities, net of tax. In reporting comprehensive income on a net basis in the statements of comprehensive income, we used a 21% tax rate. The difference between net income as reported and comprehensive income was due primarily to changes in unrealized gains and losses, net of tax, on available-for-sale debt securities. The following table illustrates the changes in the balance of each component of accumulated other comprehensive loss for each period presented in the financial statements.

	Year Ended December 31,
	2025			2024			2023
	(in thousands)
Balance, beginning of period	$	(8,875	)	$	(7,194	)	$	(13,828	)
Other comprehensive income (loss) before reclassification		5,345			(1,919	)		6,202
Amounts reclassified from accumulated other comprehensive loss, net		313			238			432
Net current period other comprehensive income (loss)		5,658			(1,681	)		6,634
Balance, end of period	$	(3,217	)	$	(8,875	)	$	(7,194	)

The sale or credit loss allowance adjustment of an available-for-sale security results in amounts being reclassified from accumulated other comprehensive loss to current period net income. The effects of reclassifications out of accumulated other comprehensive loss by the respective line items of net income are presented in the following table.

Component of Accumulated Other    Comprehensive Loss	Year Ended December 31,									Affected line item in the statement  of income
	2025			2024			2023
	(in thousands)
Unrealized losses on available-for-    sale securities	$	(396	)	$	(302	)	$	(547	)	Net realized gains (losses)    on investments
		(396	)		(302	)		(547	)	Income before income taxes
		83			64			115		Income tax expense
	$	(313	)	$	(238	)	$	(432	)	Net income

	Pre-Tax Amount			Tax Expense (Benefit)			Net-of-Tax Amount
	(in thousands)
December 31, 2025
Unrealized gain on securities:
Unrealized gain on available-for-sale securities	$	6,766		$	1,421		$	5,345
Reclassification adjustment for losses realized in net income		396			83			313
Net unrealized gain		7,162			1,504			5,658
Other comprehensive income	$	7,162		$	1,504		$	5,658
December 31, 2024
Unrealized loss on securities:
Unrealized loss on available-for-sale securities	$	(2,429	)	$	(510	)	$	(1,919	)
Reclassification adjustment for losses realized in net income		302			64			238
Net unrealized loss		(2,127	)		(446	)		(1,681	)
Other comprehensive loss	$	(2,127	)	$	(446	)	$	(1,681	)
December 31, 2023
Unrealized gain on securities:
Unrealized gain on available-for-sale securities	$	7,850		$	1,648		$	6,202
Reclassification adjustment for losses realized in net income		547			115			432
Net unrealized gain		8,397			1,763			6,634
Other comprehensive income	$	8,397		$	1,763		$	6,634