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Changes in Accumulated Other Comprehensive Income (Loss) by Component (Tables) | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table presents the changes in accumulated other comprehensive income (loss) by component for the years ended December 31, 2023, 2022 and 2021. Amounts in parentheses indicate reductions to accumulated other comprehensive income (loss).
(amounts in thousands) |  |  |  |  | Unrealized Gains (Losses) on AFS Securities (1) |  | Unrealized Gains (Losses) on Cash Flow Hedges (2) |  | Total
Balance, December 31, 2020 |  |  |  |  | $ | 23,312 |  |  | $ | (29,076) |  |  | $ | (5,764) |
Current period: |  |  |  |  |  |  |  |  |
Unrealized gains (losses) arising during period, before tax |  |  |  |  | (6,841) |  |  | 12,321 |  |  | 5,480 |
Income tax effect |  |  |  |  | 1,779 |  |  | (3,204) |  |  | (1,425) |
Other comprehensive income (loss) before reclassifications |  |  |  |  | (5,062) |  |  | 9,117 |  |  | 4,055 |
Reclassification adjustments for losses (gains) included in net income, before tax |  |  |  |  | (31,392) |  |  | 26,972 |  |  | (4,420) |
Income tax effect |  |  |  |  | 8,162 |  |  | (7,013) |  |  | 1,149 |
Amounts reclassified from accumulated other comprehensive income (loss) to net income |  |  |  |  | (23,230) |  |  | 19,959 |  |  | (3,271) |
Net current-period other comprehensive income (loss) |  |  |  |  | (28,292) |  |  | 29,076 |  |  | 784 |
Balance, December 31, 2021 |  |  |  |  | (4,980) |  |  | — |  |  | (4,980) |
Current period: |  |  |  |  |  |  |  |  |
Unrealized gains (losses) arising during period, before tax |  |  |  |  | (236,834) |  |  | — |  |  | (236,834) |
Income tax effect |  |  |  |  | 61,577 |  |  | — |  |  | 61,577 |
Other comprehensive income (loss) before reclassifications |  |  |  |  | (175,257) |  |  | — |  |  | (175,257) |
Reclassification adjustments for losses (gains) included in net income, before tax |  |  |  |  | 23,164 |  |  | — |  |  | 23,164 |
Income tax effect |  |  |  |  | (6,023) |  |  | — |  |  | (6,023) |
Amounts reclassified from accumulated other comprehensive income (loss) to net income |  |  |  |  | 17,141 |  |  | — |  |  | 17,141 |
Net current-period other comprehensive income (loss) |  |  |  |  | (158,116) |  |  | — |  |  | (158,116) |
Balance, December 31, 2022 |  |  |  |  | (163,096) |  |  | — |  |  | (163,096) |
Current period: |  |  |  |  |  |  |  |  |
Unrealized gains (losses) arising during period, before tax |  |  |  |  | 31,146 |  |  | — |  |  | 31,146 |
Income tax effect |  |  |  |  | (7,911) |  |  | — |  |  | (7,911) |
Other comprehensive income (loss) before reclassifications |  |  |  |  | 23,235 |  |  | — |  |  | 23,235 |
Reclassification adjustments for losses (gains) included in net income, before tax |  |  |  |  | (574) |  |  | — |  |  | (574) |
Income, tax effect |  |  |  |  | 146 |  |  | — |  |  | 146 |
Amortization of unrealized loss on securities transferred from available-for-sale to held-to-maturity, before tax |  |  |  |  | 4,986 |  |  | — |  |  | 4,986 |
Income, tax effect |  |  |  |  | (1,266) |  |  | — |  |  | (1,266) |
Amounts reclassified from accumulated other comprehensive income (loss) to net income |  |  |  |  | 3,292 |  |  | — |  |  | 3,292 |
Net current-period other comprehensive income (loss) |  |  |  |  | 26,527 |  |  | — |  |  | 26,527 |
Balance, December 31, 2023 |  |  |  |  | $ | (136,569) |  |  | $ | — |  |  | $ | (136,569) |
(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. Refer to NOTE 21 – DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES for additional information on derivatives designated as cash flow hedges terminated during the year ended December 31, 2021.

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