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Other Comprehensive Income (Tables)
 6 Months Ended
Jun. 30, 2023
Equity [Abstract]  
Summary of Components of Other Comprehensive Income

The table below provides a summary of the components of other comprehensive income (“OCI”) for the periods presented.

 

 

 

Three Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

 

Before-tax

 

 

Tax effect

 

 

After-tax

 

 

Before-tax

 

 

Tax effect

 

 

After-tax

 

 

 

(Dollars in thousands)

 

Investment securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in fair value recorded in accumulated OCI

 

$

(37,996

)

 

$

11,233

 

 

$

(26,763

)

 

$

(142,883

)

 

$

42,241

 

 

$

(100,642

)

Amortization of net unrealized losses on securities
   transferred from available-for-sale to held-to-maturity

 

 

3,532

 

 

 

(3,364

)

 

 

168

 

 

 

93

 

 

 

(28

)

 

 

65

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in fair value recorded in accumulated OCI

 

 

11,129

 

 

 

(3,283

)

 

 

7,846

 

 

 

—

 

 

 

—

 

 

 

—

 

Net change

 

$

(23,335

)

 

$

4,586

 

 

$

(18,749

)

 

$

(142,790

)

 

$

42,213

 

 

$

(100,577

)

 

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

 

Before-tax

 

 

Tax effect

 

 

After-tax

 

 

Before-tax

 

 

Tax effect

 

 

After-tax

 

 

 

(Dollars in thousands)

 

Investment securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in fair value recorded in accumulated OCI

 

$

2,428

 

 

$

(718

)

 

$

1,710

 

 

$

(344,955

)

 

$

101,981

 

 

$

(242,974

)

Amortization of net unrealized losses on securities
   transferred from available-for-sale to held-to-maturity

 

 

3,810

 

 

 

(3,446

)

 

 

364

 

 

 

147

 

 

 

(44

)

 

 

103

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in fair value recorded in accumulated OCI

 

 

11,129

 

 

 

(3,283

)

 

 

7,846

 

 

 

—

 

 

 

—

 

 

 

—

 

Net change

 

$

17,367

 

 

$

(7,447

)

 

$

9,920

 

 

$

(344,809

)

 

$

101,938

 

 

$

(242,871

)