Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2025

Other Comprehensive Income

Other Comprehensive Income (Loss)

Note 16 – Other Comprehensive Income (Loss)

U.S. GAAP generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities are reported as a separate component of the shareholders' equity section of the consolidated balance sheets, such items, along with net income, are components of comprehensive income (loss).

The components of other comprehensive income (loss) and related tax effects are as follows for the periods indicated:

	For the Year Ended
	December 31, 2025						December 31, 2024						December 31, 2023
	(In thousands)
	Pre-Tax		Tax (Expense)		After-Tax		Pre-Tax		Tax (Expense)		After-Tax		Pre-Tax		Tax (Expense)		After-Tax
	Amount		Benefit		Amount		Amount		Benefit		Amount		Amount		Benefit		Amount
Change in fair value of available-for-sale securities	$	6,355	$	(1,605)	$	4,750	$	6,717	$	(1,834)	$	4,883	$	3,740	$	(929)	$	2,811
Less: Reclassification adjustment for realized gains (losses) in net income		—		—		—		(1,867)		525		(1,342)		—		—		—
Net change in fair value of available-for-sale securities		6,355		(1,605)		4,750		4,850		(1,309)		3,541		3,740		(929)		2,811
Change in unrecognized pension losses from director pension plan:
Net actuarial gains (losses) arising during the year		(233)		65		(168)		119		(33)		86		(244)		69		(175)
New prior service costs related to plan amendments		(1,025)		286		(739)		—		—		—		(430)		123		(307)
Less: Reclassification adjustments into net periodic pension cost:
Amortization of prior service costs		248		(69)		179		57		(16)		41		487		(139)		348
Amortization of net actuarial losses		62		(17)		45		86		(24)		62		81		(23)		58
Net change in other comprehensive income for director pension plan		(948)		265		(683)		262		(73)		189		(106)		30		(76)
Change in fair value of cash flow hedge		1,284		(320)		964		—		—		—		(321)		90		(231)
Change in fair value of cash flow hedge, net of tax		1,284		(320)		964		—		—		—		(321)		90		(231)
Total other comprehensive income (loss)	$	6,691	$	(1,660)	$	5,031	$	5,112	$	(1,382)	$	3,730	$	3,313	$	(809)	$	2,504

The following table presents the components of accumulated other comprehensive loss as of the dates stated:

	As of
	December 31, 2025		December 31, 2024		December 31, 2023
	(In thousands)
Net unrealized holding losses on available-for-sale securities, net of tax	$	(2,637)	$	(7,387)	$	(10,928)
Net unrealized gains on cash flow hedge, net of tax		964		—		—
Unrecognized director pension plan benefits, net of tax		(1,463)		(780)		(969)
Total accumulated other comprehensive loss	$	(3,136)	$	(8,167)	$	(11,897)