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Other Comprehensive Income
 3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
Other Comprehensive Income

10. OTHER COMPREHENSIVE INCOME

 

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

 

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

 

 

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

 

$

(35,856

)

 

$

10,600

 

 

$

(25,256

)

 

$

40,424

 

 

$

(11,951

)

 

$

28,473

 

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

 

 

163

 

 

 

(48

)

 

 

115

 

 

 

278

 

 

 

(82

)

 

 

196

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair value hedges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in fair value recorded in accumulated OCI

 

 

17,831

 

 

 

(4,962

)

 

 

12,869

 

 

 

—

 

 

 

—

 

 

 

—

 

Cash flow hedges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in fair value recorded in accumulated OCI

 

 

789

 

 

 

(233

)

 

 

556

 

 

 

—

 

 

 

—

 

 

 

—

 

Net change

 

$

(17,073

)

 

$

5,357

 

 

$

(11,716

)

 

$

40,702

 

 

$

(12,033

)

 

$

28,669