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Comprehensive Income and Accumulated Other Comprehensive Income (Loss) | 12 Months Ended
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Dec. 31, 2024
Equity [Abstract] |
Comprehensive Income and Accumulated Other Comprehensive Income (Loss) | 14. Comprehensive Income and Accumulated Other Comprehensive Income (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 percent 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 securit ies. The following table illustrates the changes in the balance of each component of accumulated other comprehensive income (loss) for each period presented in the financial statements.
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (in thousands) |
Balance, beginning of period |  | $ | (7,194 | ) |  | $ | (13,828 | ) |  | $ | 13,537 |
Other comprehensive income (loss) before reclassification |  |  | (1,919 | ) |  |  | 6,202 |  |  |  | (24,966 | )
Amounts reclassified from accumulated other comprehensive income (loss) |  |  | 238 |  |  |  | 432 |  |  |  | (2,399 | )
Net current period other comprehensive income (loss) |  |  | (1,681 | ) |  |  | 6,634 |  |  |  | (27,365 | )
Balance, end of period |  | $ | (8,875 | ) |  | $ | (7,194 | ) |  | $ | (13,828 | )
The sale or credit loss allowance adjustment of an available-for-sale security results in amounts being reclassified from accumulated other comprehensive income (loss) to current period net income. The effects of reclassifications out of accumulated other comprehensive income (loss) by the respective line items of net income are presen ted in the following table.
Component of Accumulated Other Comprehensive Income (Loss) |  | Year Ended December 31, |  |  | Affected line item in the statement of income
|  | 2024 |  |  | 2023 |  |  | 2022 |  |  |
|  | (in thousands) |  |  |
Unrealized gains (losses) on available-for- sale securities |  | $ | (302 | ) |  | $ | (547 | ) |  | $ | 3,037 |  |  | Net realized gains (losses) on investments
|  |  | (302 | ) |  |  | (547 | ) |  |  | 3,037 |  |  | Income before income taxes
|  |  | 64 |  |  |  | 115 |  |  |  | (638 | ) |  | Income tax expense
|  | $ | (238 | ) |  | $ | (432 | ) |  | $ | 2,399 |  |  | Net income
|  | Pre-Tax Amount |  |  | Tax Expense (Benefit) |  |  | Net-of-Tax Amount |
|  | (in thousands) |
December 31, 2024 |  |  |  |  |  |  |  |  |
Unrealized loss on securities: |  |  |  |  |  |  |  |  |
Unrealized loss on available-for-sale securities |  | $ | (2,429 | ) |  | $ | (510 | ) |  | $ | (1,919 | )
Reclassification adjustment for gains 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 |
December 31, 2022 |  |  |  |  |  |  |  |  |
Unrealized loss on securities: |  |  |  |  |  |  |  |  |
Unrealized loss on available-for-sale securities |  | $ | (31,602 | ) |  | $ | (6,636 | ) |  | $ | (24,966 | )
Reclassification adjustment for losses realized in net income |  |  | (3,037 | ) |  |  | (638 | ) |  |  | (2,399 | )
Net unrealized loss |  |  | (34,639 | ) |  |  | (7,274 | ) |  |  | (27,365 | )
Other comprehensive loss |  | $ | (34,639 | ) |  | $ | (7,274 | ) |  | $ | (27,365 | )

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/220/tableOfContent + Details
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