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Changes in Accumulated Other Comprehensive Income (Loss) By Component

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Changes in Accumulated Other Comprehensive Income (Loss) By Component

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) BY COMPONENT

The following tables present the changes in accumulated other comprehensive income (loss) by component for the three and six months ended June 30, 2022 and 2021. Amounts in parentheses indicate reductions to AOCI.

												Three Months Ended June 30, 2022
(amounts in thousands)												Unrealized Gains (Losses) on Available for Sale Securities (1)						Unrealized Gains (Losses) on Cash Flow Hedges (2)						Total
Balance - March 31, 2022												$	(62,548)					$	—					$	(62,548)
Unrealized gains (losses) arising during period, before tax												(88,224)						—						(88,224)
Income tax effect												22,938						—						22,938
Other comprehensive income (loss) before reclassifications												(65,286)						—						(65,286)
Reclassification adjustments for (gains) losses included in net income, before tax												3,991						—						3,991
Income tax effect												(1,038)						—						(1,038)
Amounts reclassified from accumulated other comprehensive income (loss) to net income												2,953						—						2,953
Net current-period other comprehensive income (loss)												(62,333)						—						(62,333)
Balance - June 30, 2022												$	(124,881)					$	—					$	(124,881)

									Three Months Ended June 30, 2021
(amounts in thousands)									Unrealized Gains (Losses) on Available for Sale Securities (1)						Unrealized Gains (Losses) on Cash Flow Hedges (2)						Total
Balance - March 31, 2021									$	6,169					$	(778)					$	5,391
Unrealized gains (losses) arising during period, before tax									592						6						598
Income tax effect									(154)						(2)						(156)
Other comprehensive income (loss) before reclassifications									438						4						442
Reclassification adjustments for (gains) losses included in net income, before tax									(1,812)						1,046						(766)
Income tax effect									471						(272)						199
Amounts reclassified from accumulated other comprehensive income (loss) to net income									(1,341)						774						(567)
Net current-period other comprehensive income (loss)									(903)						778						(125)
Balance - June 30, 2021									$	5,266					$	—					$	5,266

									Six Months Ended June 30, 2022
(amounts in thousands)									Unrealized Gains (Losses) Available for Sale Securities (1)						Unrealized  Gains (Losses) on Cash Flow  Hedges (2)												Total
Balance - December 31, 2021									$	(4,980)					$	—											$	(4,980)
Unrealized gains (losses) arising during period, before tax									(167,082)						—												(167,082)
Income tax effect									43,441						—												43,441
Other comprehensive income (loss) before reclassifications									(123,641)						—												(123,641)
Reclassification adjustments for (gains) losses included in net income, before tax									5,054						—												5,054
Income tax effect									(1,314)						—												(1,314)
Amounts reclassified from accumulated other comprehensive income (loss) to net income									3,740						—												3,740
Net current-period other comprehensive income (loss)									(119,901)						—												(119,901)
Balance - June 30, 2022									$	(124,881)					$	—											$	(124,881)

									Six Months Ended June 30, 2021
(amounts in thousands)									Unrealized Gains (Losses) on Available for Sale Securities (1)						Unrealized Gains (Losses) on Cash Flow Hedges (2)						Total
Balance - December 31, 2020									$	23,312					$	(29,076)					$	(5,764)
Unrealized gains (losses) arising during period, before tax									992						12,321						13,313
Income tax effect									(258)						(3,204)						(3,462)
Other comprehensive income (loss) before reclassifications									734						9,117						9,851
Reclassification adjustments for (gains) losses included in net income, before tax									(25,378)						26,972						1,594
Income tax effect									6,598						(7,013)						(415)
Amounts reclassified from accumulated other comprehensive income (loss) to net income									(18,780)						19,959						1,179
Net current-period other comprehensive income									(18,046)						29,076						11,030
Balance - June 30, 2021									$	5,266					$	—					$	5,266

(1)Reclassification amounts for AFS debt securities are reported as gain (loss) on sale of investment securities and amortization of unrealized losses on debt securities transferred from available-for-sale to held-to-maturity is reported within interest income on the consolidated statements of income.

(2)Reclassification amounts for cash flow hedges are reported as interest expense for the applicable hedged items or loss on cash flow hedge derivative terminations on the consolidated statements of income.

X

- Definition

The entire disclosure for any adjustments made during the period to avoid double counting in comprehensive income items displayed as part of net income that also had been displayed as part of other comprehensive income in that period or earlier periods. These adjustments include reclassifications to net income of items in accumulated comprehensive income, such as deferred gains or losses on qualifying hedges when hedged item reported in net income, holding gains or losses on available-for-sale securities transferred into trading category, unrealized holding gains or losses on debt securities transferred from held-to-maturity category into available-for-sale category and accumulated translation adjustment attributable to foreign subsidiary or investment in foreign entity upon sale or liquidation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-URI https://asc.fasb.org/topic&trid=2134417

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- References

No definition available.

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