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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

6 Months Ended

Jun. 30, 2025

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Schedule of tax effects allocated to each component of 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

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

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)

Schedule of table shows the amounts reclassified out of AOCI for the realized gain on cash flow hedges

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