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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | 9 Months Ended
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Sep. 30, 2024
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) |
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | NOTE 10 — ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table summarizes the changes in Accumulated Other Comprehensive Income (Loss) balances, net of tax effects at the dates indicated (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Total
​ | ​ | ​ | ​ | ​ | ​ | Accumulated
​ | ​ | ​ | ​ | ​ | ​ | Other
​ | ​ | AFS | ​ | Cash Flow | ​ | Comprehensive
​ | ​ | Securities | ​ | Hedge | ​ | Income (Loss)
Three Months Ended | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at July 1, 2024 | ​ | $ | (57,148) | ​ | $ | 4,943 | ​ | $ | (52,205)
Unrealized gain (loss) arising during the period, net of tax | ​ | ​ | 13,459 | ​ | ​ | (4,518) | ​ | ​ | 8,941
Reclassification adjustment for gain included in net income, net of tax | ​ | ​ | — | ​ | ​ | (863) | ​ | ​ | (863)
Other comprehensive income (loss), net of tax | ​ | ​ | 13,459 | ​ | ​ | (5,381) | ​ | ​ | 8,078
Balance at September 30, 2024 | ​ | $ | (43,689) | ​ | $ | (438) | ​ | $ | (44,127)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at July 1, 2023 | ​ | $ | (60,789) | ​ | $ | 9,868 | ​ | $ | (50,921)
Unrealized gain (loss) arising during the period, net of tax | ​ | ​ | (8,908) | ​ | ​ | 509 | ​ | ​ | (8,399)
Reclassification adjustment for gain included in net income, net of tax | ​ | ​ | — | ​ | ​ | (831) | ​ | ​ | (831)
Other comprehensive income (loss), net of tax | ​ | ​ | (8,908) | ​ | ​ | (322) | ​ | ​ | (9,230)
Balance at September 30, 2023 | ​ | $ | (69,697) | ​ | $ | 9,546 | ​ | $ | (60,151)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nine Months Ended | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at January 1, 2024 | ​ | $ | (54,685) | ​ | $ | 1,749 | ​ | $ | (52,936)
Unrealized gain (loss) arising during the period, net of tax | ​ | ​ | 10,996 | ​ | ​ | 417 | ​ | ​ | 11,413
Reclassification adjustment for gain included in net income, net of tax | ​ | ​ | — | ​ | ​ | (2,604) | ​ | ​ | (2,604)
Other comprehensive income (loss), net of tax | ​ | ​ | 10,996 | ​ | ​ | (2,187) | ​ | ​ | 8,809
Balance at September 30, 2024 | ​ | $ | (43,689) | ​ | $ | (438) | ​ | $ | (44,127)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at January 1, 2023 | ​ | $ | (61,833) | ​ | $ | 7,535 | ​ | $ | (54,298)
Unrealized gain (loss) arising during the period, net of tax | ​ | ​ | (7,864) | ​ | ​ | 4,517 | ​ | ​ | (3,347)
Reclassification adjustment for gain included in net income, net of tax | ​ | ​ | — | ​ | ​ | (2,506) | ​ | ​ | (2,506)
Other comprehensive income (loss), net of tax | ​ | ​ | (7,864) | ​ | ​ | 2,011 | ​ | ​ | (5,853)
Balance at September 30, 2023 | ​ | $ | (69,697) | ​ | $ | 9,546 | ​ | $ | (60,151)
​ The following table presents the tax effects allocated to each component of Accumulated Other Comprehensive Income (Loss) at the dates indicated (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gross | ​ | Tax | ​ | ​
​ | ​ | Amount | ​ | Component | ​ | Total
Balance at September 30, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized gain (loss) on AFS Securities | ​ | $ | (62,981) | ​ | $ | 19,292 | ​ | $ | (43,689)
Unrealized gain (loss) on Cash Flow Hedges | ​ | ​ | (591) | ​ | ​ | 153 | ​ | ​ | (438)
Total ending other comprehensive income (loss) | ​ | $ | (63,572) | ​ | $ | 19,445 | ​ | $ | (44,127)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At December 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized gain (loss) on AFS Securities | ​ | $ | (77,783) | ​ | $ | 23,098 | ​ | $ | (54,685)
Unrealized gain (loss) on Cash Flow Hedges | ​ | ​ | 2,574 | ​ | ​ | (825) | ​ | ​ | 1,749
Total ending other comprehensive income (loss) | ​ | $ | (75,209) | ​ | $ | 22,273 | ​ | $ | (52,936)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
The following table shows the amounts reclassified out of AOCI for the realized gain on cash flow hedges (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Affected line item in
​ | ​ | Three months ended | ​ | Nine months ended | ​ | the Consolidated Statements
​ | ​ | September 30, | ​ | September 30, | ​ | of Operations
​ | ​ | 2024 | ​ | 2023 | ​ | 2024 | ​ | 2023 |  | ​
Realized gain (loss) on cash flow hedges | ​ | $ | 1,245 | ​ | $ | 1,200 |  | $ | 3,757 | ​ | $ | 3,653 | ​ | Licensing fees
Income tax (expense) benefit | ​ | ​ | (382) | ​ | ​ | (369) | ​ | ​ | (1,153) | ​ | ​ | (1,147) | ​ | Income tax expense
Total reclassifications, net of income tax | ​ | $ | 863 | ​ | $ | 831 | ​ | $ | 2,604 | ​ | $ | 2,506 | ​ | ​
​

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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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