Annual report [Section 13 and 15(d), not S-K Item 405]

Accumulated Other Comprehensive Income (Loss)

v3.25.4
Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2025
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income (Loss)

Note 12 — Accumulated Other Comprehensive Income (Loss)

Activity in accumulated other comprehensive income for the year ended December 31, 2025, 2024 and 2023 was as follows:

 

 

 

Unrealized
Gains and
Losses on
Available for
Sale Securities

 

 

Unrealized
Gains and
Losses on
Cash Flow Hedge

 

 

Tax Benefit
(Expense)

 

 

Total

 

 

 

(in thousands)

 

For the year ended December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

(98,765

)

 

$

(534

)

 

$

28,576

 

 

$

(70,723

)

Other comprehensive income (loss) before reclassification

 

 

37,629

 

 

 

(128

)

 

 

(9,380

)

 

 

28,121

 

Reclassification from accumulated other comprehensive income

 

 

—

 

 

 

802

 

 

 

(243

)

 

 

559

 

Effect of deferred tax remeasurement due to change in state tax law

 

 

—

 

 

 

—

 

 

 

(1,132

)

 

 

(1,132

)

Net current period other comprehensive income

 

 

37,629

 

 

 

674

 

 

 

(10,755

)

 

 

27,548

 

Balance at end of period

 

$

(61,136

)

 

$

140

 

 

$

17,821

 

 

$

(43,175

)

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

(101,292

)

 

$

306

 

 

$

29,058

 

 

$

(71,928

)

Other comprehensive income (loss) before reclassification

 

 

2,527

 

 

 

(2,373

)

 

 

(41

)

 

 

113

 

Reclassification from accumulated other comprehensive income

 

 

—

 

 

 

1,533

 

 

 

(441

)

 

 

1,092

 

Net current period other comprehensive income

 

 

2,527

 

 

 

(840

)

 

 

(482

)

 

 

1,205

 

Balance at end of period

 

$

(98,765

)

 

$

(534

)

 

$

28,576

 

 

$

(70,723

)

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

(124,958

)

 

$

—

 

 

$

35,973

 

 

$

(88,985

)

Other comprehensive income (loss) before reclassification

 

 

21,795

 

 

 

306

 

 

 

(6,351

)

 

 

15,750

 

Reclassification from accumulated other comprehensive income

 

 

1,871

 

 

 

—

 

 

 

(564

)

 

 

1,307

 

Net current period other comprehensive income

 

 

23,666

 

 

 

306

 

 

 

(6,915

)

 

 

17,057

 

Balance at end of period

 

$

(101,292

)

 

$

306

 

 

$

29,058

 

 

$

(71,928

)

 

For the year ended December 31, 2025, there was a $0.8 million reclassification from accumulated other comprehensive income, to net loss on cash flow hedge in interest income. There was no sale of securities for the year ended December 31, 2025. There was a one-time deferred tax remeasurement effect that resulted in $1.1 million of unrecognized tax expense for unrealized losses on securities available for sale becoming stranded within accumulated other comprehensive loss during 2025. See Note 11 - Income Taxes for more information.

 

For the year ended December 31, 2024, there was a $1.5 million reclassification from accumulated other comprehensive income, to net loss on cash flow hedge in interest income. There was no sale of securities for the year ended December 31, 2024.

 

For the year ended December 31, 2023, there was a $1.9 million reclassification from accumulated other comprehensive income, to net loss on sales of securities in noninterest income. Net unrealized losses of $1.7 million related to these sold securities had previously been recorded in accumulated other comprehensive income or loss.