| ACCUMULATED OTHER COMPREHENSIVE LOSS |
ACCUMULATED OTHER COMPREHENSIVE LOSS Accumulated other comprehensive loss, net of income taxes, as of June 30, 2025 and December 31, 2024 consisted of: | | | | | | | | | | | | | | | June 30, | | December 31, | | 2025 | | 2024 | | (In thousands) | | Unrealized loss on securities available-for-sale | $ | (56,799) | | | $ | (105,930) | | | Income tax effect of unrealized loss on securities available-for-sale | 8,017 | | | 16,091 | | | Net unrealized loss on securities available-for-sale | (48,782) | | | (89,839) | | | | | | | | | | | | | | | Accumulated other comprehensive loss, net of income taxes | $ | (48,782) | | | $ | (89,839) | |
The following table presents changes in accumulated other comprehensive loss by component, net of taxes, for the quarters and six-month periods ended June 30, 2025 and 2024: | | | | | | | | | | | | | | | | | | | | | Net unrealized loss on securities available-for-sale | | | | | | Quarter Ended June 30, 2025 | | Six-Month Period Ended June 30, 2025 | | | | | | | | | | | | | | (In thousands) | | | | Beginning balance | $ | (58,001) | | | | | | | $ | (89,839) | | | | | | | Other comprehensive income before reclassifications | 9,217 | | | | | | | 41,053 | | | | | | | Amounts reclassified out of accumulated other comprehensive loss | 2 | | | | | | | 4 | | | | | | | Other comprehensive income | 9,219 | | | | | | | 41,057 | | | | | | | Ending balance | $ | (48,782) | | | | | | | $ | (48,782) | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | Net unrealized loss on securities available-for-sale | | | | | | Quarter Ended June 30, 2024 | | Six-Month Period Ended June 30, 2024 | | | | | | | | | | | | | | (In thousands) | | | | Beginning balance | $ | (81,731) | | | | | | | $ | (67,013) | | | | | | | Other comprehensive loss before reclassifications | (4,765) | | | | | | | (19,474) | | | | | | | Amounts reclassified out of accumulated other comprehensive loss | 2 | | | | | | | (7) | | | | | | | Other comprehensive loss | (4,763) | | | | | | | (19,481) | | | | | | | Ending balance | $ | (86,494) | | | | | | | $ | (86,494) | | | | | | | | | | | | | | | | | |
The following table presents reclassifications out of accumulated other comprehensive loss for the quarters and six-month periods ended June 30, 2025 and 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Amount reclassified out of accumulated other comprehensive loss | | | | | Quarter Ended June 30, | | Six-Month Period Ended June 30, | | | Affected Line Item in
Consolidated Statement of
Operations | | 2025 | | 2024 | | 2025 | | 2024 | | | | (In thousands) | | | | | | | | | | | | | | | | | | | | | | | | | Available-for-sale securities: | | | | | | | | | | | | Loss on sale of investments | $ | — | | | $ | — | | | $ | — | | | $ | (7) | | | | Net loss on sale of securities | | Tax effect from changes in tax rates | 2 | | | 2 | | | 4 | | | — | | | | Income tax expense | | $ | 2 | | | $ | 2 | | | $ | 4 | | | $ | (7) | | | | |
|