Accumulated other comprehensive income represents the net unrealized holding gains on securities available-for-sale, derivatives and the funded status of the Company’s benefit plans, as of the consolidated balance sheet dates, net of the related tax effect. The tax effect in accumulated other comprehensive income is adjusted to reflect the Company’s valuation allowance on deferred tax assets.

The following table presents the components of other comprehensive income both gross and net of tax, inclusive of a deferred tax valuation allowance, for the periods indicated.


	Year Ended December 31,
	2025						2024
	Before Tax		Tax Effect		After Tax		Before Tax		Tax Effect		After Tax
	(In thousands)

Unrealized gain on securities available-for-sale:
Unrealized gain arising during the period	$	10,519	$	—	$	10,519	$	3,273	$	—	$	3,273


Unrealized gain on cash flow hedge:
Unrealized loss arising during the period	(11,968)		—		(11,968)		(5,574)		—		(5,574)
Reclassification adjustment for gains included in net income	4,726		—		4,726		6,355		—		6,355
Total (loss) gain	(7,242)		—		(7,242)		781		—		781
Post-Retirement plans:


Reclassification adjustment for amortization of:

Net actuarial loss	(394)		—		(394)		(128)		—		(128)

Total other comprehensive income:	$	2,883	$	—	$	2,883	$	3,926	$	—	$	3,926

The following is a summary of the changes in accumulated other comprehensive income by component, net of tax, inclusive of a deferred tax valuation allowance, for the periods indicated:


	Unrealized Gains Cash Flow Hedges		Unrealized Losses on Available-for-sale Securities		Post- Retirement Plans		Total
	(In thousands)
Balance at December 31, 2024	$	8,363	$	(27,426)	$	109	$	(18,954)
Other comprehensive (loss) income before reclassification	(11,968)		10,519		—		(1,449)
Amounts reclassified from accumulated other comprehensive income (loss)	4,726		—		(394)		4,332
Net current period other comprehensive gain (loss)	(7,242)		10,519		(394)		2,883
Balance at December 31, 2025	$	1,121	$	(16,907)	$	(285)	$	(16,071)


	Unrealized Gains on Cash Flow Hedges		Unrealized Losses on Available-for-sale Securities		Post-Retirement Plans		Total
	(In thousands)
Balance at December 31, 2023	$	7,582	$	(30,699)	$	237	$	(22,880)
Other comprehensive income (loss) before reclassification	(5,574)		3,273		—		(2,301)
Amounts reclassified from accumulated other comprehensive income (loss)	6,355		—		(128)		6,227
Net current period other comprehensive gain (loss)	781		3,273		(128)		3,926
Balance at December 31, 2024	$	8,363	$	(27,426)	$	109	$	(18,954)

The following table presents information about amounts reclassified from accumulated other comprehensive income (loss) to the consolidated statements of operations for the periods indicated:


Details about Accumulated Other Comprehensive Income Components	Year Ended December 31,				Affected Line Item in the Statement Where Net Income is Presented
	2025		2024
	(In thousands)


Losses on cash flow hedges:
Interest rate contracts	$	(4,726)	$	(6,355)	Interest expense
Amortization of benefit plan items:
Net actuarial loss	394		128		Compensation and benefits
Total tax effect	—		—		Income tax expense
Total reclassification for the period, net of tax	$	(4,332)	$	(6,227)