COMPREHENSIVE INCOME (LOSS)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

COMPREHENSIVE INCOME (LOSS)

3. COMPREHENSIVE INCOME (LOSS)

Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income (loss).

The components of accumulated other comprehensive loss included in shareholders’ equity are as follows:

	March 31, 2024			December 31, 2023
	(In thousands)
Net unrealized losses on available-for-sale securities	$	(31,702	)	$	(29,166	)
Tax effect		8,065			7,422
Net-of-tax amount		(23,637	)		(21,744	)
Accumulated other comprehensive loss	$	(23,637	)	$	(21,744	)