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Changes in Accumulated Other Comprehensive Income (Loss) by Component

9 Months Ended

Sep. 30, 2023

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 nine months ended September 30, 2023 and 2022. Amounts in parentheses indicate reductions to AOCI.

															Unrealized Gains (Losses) on Available for Sale Securities (1)
															Three Months Ended September 30,
(amounts in thousands)															2023																		2022
Balance at July 1															$	(168,176)																	$	(124,881)
Unrealized gains (losses) arising during period, before tax															23,666																		(46,450)
Income tax effect															(6,011)																		12,077
Other comprehensive income (loss) before reclassifications															17,655																		(34,373)
Reclassification adjustments for (gains) losses included in net income, before tax															(429)																		4,227
Income tax effect															109																		(1,099)
Amounts reclassified from accumulated other comprehensive income (loss) to net income															(320)																		3,128
Amortization of unrealized loss on securities transferred from available for sale to held to maturity															1,379																		—
Income tax effect															(350)																		—
Amortization of unrealized loss on securities transferred from available for sale to held to maturity															1,029																		—
Net current-period other comprehensive income (loss)															18,364																		(31,245)
Balance at September 30															$	(149,812)																	$	(156,126)

									Unrealized Gains (Losses) Available for Sale Securities (1)
									Nine Months Ended September 30,
(amounts in thousands)									2023																								2022
Balance at January 1									$	(163,096)																							$	(4,980)
Unrealized gains (losses) arising during period, before tax									14,535																								(213,532)
Income tax effect									(3,692)																								55,518
Other comprehensive income (loss) before reclassifications									10,843																								(158,014)
Reclassification adjustments for (gains) losses included in net income, before tax									(429)																								9,281
Income tax effect									109																								(2,413)
Amounts reclassified from accumulated other comprehensive income (loss) to net income									(320)																								6,868
Amortization of unrealized loss on securities transferred from available for sale to held to maturity									3,700																								—
Income tax effect									(939)																								—
Amortization of unrealized loss on securities transferred from available for sale to held to maturity									2,761																								—
Net current-period other comprehensive income (loss)									13,284																								(151,146)
Balance at September 30									$	(149,812)																							$	(156,126)

(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.

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- 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
-Topic 220
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//220/tableOfContent

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- References

No definition available.

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