ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

6 Months Ended

Jun. 30, 2025

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

NOTE 11 — ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following tables presents the tax effects allocated to each component of Other Comprehensive Income (Loss) (in thousands):

	Three months ended
	June 30, 2025						June 30, 2024
	Before		Tax		After		Before		Tax		After
	Tax		Effect		Tax		Tax		Effect		Tax
Unrealized gain (loss) arising on AFS securities
Unrealized gain (loss) arising during the period	$	4,386	$	(1,314)	$	3,072	$	146	$	(43)	$	103
Unrealized gain (loss) arising on cash flow hedges
Unrealized gain (loss) arising during the period	$	(1,937)	$	580	$	(1,357)	$	932	$	(276)	$	656
Reclassification adjustment for gain included in net income		—		—		—		(1,262)		388		(874)
Net Change		(1,937)		580		(1,357)		(330)		112		(218)
Total other comprehensive income (loss)	$	2,449	$	(734)	$	1,715	$	(184)	$	69	$	(115)

	Six months ended
	June 30, 2025						June 30, 2024
	Before		Tax		After		Before		Tax		After
	Tax		Effect		Tax		Tax		Effect		Tax
Unrealized gain (loss) arising on AFS securities
Unrealized gain (loss) arising during the period	$	14,368	$	(4,306)	$	10,062	$	(4,342)	$	1,879	$	(2,463)
Unrealized gain (loss) arising on cash flow hedges
Unrealized gain (loss) arising during the period	$	(2,501)	$	749	$	(1,752)	$	7,019	$	(2,084)	$	4,935
Reclassification adjustment for gain included in net income		(911)		280		(631)		(2,513)		772		(1,741)
Net Change		(3,412)		1,029		(2,383)		4,506		(1,312)		3,194
Total other comprehensive income (loss)	$	10,956	$	(3,277)	$	7,679	$	164	$	567	$	731

The following tables presents the after-tax changes in the balances of each component of Accumulated Other Comprehensive Income (Loss) at the dates indicated (in thousands):

					Total
					Accumulated
					Other
	AFS		Cash Flow		Comprehensive
	Securities		Hedge		Income (Loss)
Balance at April 1, 2025	$	(46,341)	$	(829)	$	(47,170)
Other comprehensive income (loss) arising during the period, net of tax		3,072		(1,357)		1,715
Balance at June 30, 2025	$	(43,269)	$	(2,186)	$	(45,455)
Balance at April 1, 2024	$	(57,251)	$	5,161	$	(52,090)
Unrealized gain (loss) arising during the period, net of tax		103		656		759
Reclassification adjustment for gain included in net income, net of tax		—		(874)		(874)
Other comprehensive income (loss) arising during the period, net of tax		103		(218)		(115)
Balance at June 30, 2024	$	(57,148)	$	4,943	$	(52,205)

					Total
					Accumulated
					Other
	AFS		Cash Flow		Comprehensive
	Securities		Hedge		Income (Loss)
Balance at January 1, 2025	$	(53,331)		197		(53,134)
Unrealized gain (loss) arising during the period, net of tax		10,062		(1,752)		8,310
Reclassification adjustment for gain included in net income, net of tax		—		(631)		(631)
Other comprehensive income (loss), net of tax		10,062		(2,383)		7,679
Balance at June 30, 2025	$	(43,269)		(2,186)		(45,455)
Balance at January 1, 2024	$	(54,685)		1,749		(52,936)
Unrealized gain (loss) arising during the period, net of tax		(2,463)		4,935		2,472
Reclassification adjustment for gain included in net income, net of tax		—		(1,741)		(1,741)
Other comprehensive income (loss)arising during the period , net of tax		(2,463)		3,194		731
Balance at June 30, 2024	$	(57,148)		4,943		(52,205)

The following tables shows the amounts reclassified out of AOCI for the realized gain on cash flow hedges (in thousands):

									Affected line item in
	Three months ended				Six months ended				the Consolidated Statements
	June 30,				June 30,				of Operations
	2025		2024		2025		2024
Realized gain on sale of AFS securities	$	—	$	—	$	—	$	—	Gain on Sale of Securities
Income tax (expense) benefit		—		—		—		—	Income tax expense
Total reclassifications, net of income tax	$	—	$	—	$	—	$	—
Realized gain (loss) on derivative cash flow hedges	$	—	$	1,262	$	911	$	2,513	Licensing fees
Income tax (expense) benefit		—		(388)		(280)		(772)	Income tax expense
Total reclassifications, net of income tax	$	—	$	874	$	631	$	1,741