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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Dec. 31, 2024

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Schedule of tax effects allocated to each component of Other Comprehensive Income (Loss)

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


		Year ended December 31,
		2024									2023									2022
		Before			Tax			After			Before			Tax			After			Before			Tax			After
		Tax			Effect			Tax			Tax			Effect			Tax			Tax			Effect			Tax
Unrealized gain (loss) arising on AFS securities
Unrealized gain (loss) arising during the period		$	789		$	565		$	1,354		$	11,135		$	(3,986)		$	7,149		$	(76,934)		$	23,353		$	(53,581)

Unrealized gain (loss) arising on cash flow hedges
Unrealized gain (loss) arising during the period		$	2,730		$	(808)		$	1,922		$	(3,350)		$	933		$	(2,417)		$	11,704		$	(3,567)		$	8,137
Reclassification adjustment for gain included in net income			(5,013)			1,539			(3,474)			(4,864)			1,494			(3,370)			(1,949)			599			(1,350)
Net Change			(2,283)			731			(1,552)			(8,214)			2,427			(5,787)			9,755			(2,968)			6,787
Total other comprehensive income (loss)		$	(1,494)		$	1,296		$	(198)		$	2,921		$	(1,559)		$	1,362		$	(67,179)		$	20,385		$	(46,794)

Schedule of after-tax changes in the balances of each component of Accumulated Other Comprehensive Income (Loss)

The following table 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 January 1, 2024		$	(54,685)		$	1,749		$	(52,936)
Other comprehensive income (loss) arising during the period, net of tax			1,354			(1,552)			(198)
Balance at December 31, 2024		$	(53,331)		$	197		$	(53,134)

Balance at January 1, 2023		$	(61,834)		$	7,536		$	(54,298)
Other comprehensive income (loss) arising during the period, net of tax			7,149			(5,787)			1,362
Balance at December 31, 2023		$	(54,685)		$	1,749		$	(52,936)

Balance at January 1, 2022		$	(8,253)		$	749		$	(7,504)
Other comprehensive income (loss)arising during the period , net of tax			(53,581)			6,787			(46,794)
Balance at December 31, 2022		$	(61,834)		$	7,536		$	(54,298)

Schedule of table shows the amounts reclassified out of each component of accumulated other comprehensive income for the gain on the sale of securities

The following table shows the amounts reclassified out of each component of accumulated other comprehensive income for the realized gain on the sale of securities and the realized gain on derivative cash flow hedges (in thousands):


												Affected line item in
												the Consolidated Statements
			Year Ended December 31,									of Operations
				2024			2023			2022
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			$	5,013		$	4,864		$	1,949		Licensing fees
Income tax (expense) benefit				(1,539)			(1,494)			(599)		Income tax expense
Total reclassifications, net of income tax			$	3,474		$	3,370		$	1,350