XML 40 R25.htm IDEA: XBRL DOCUMENT
v3.21.2

SHAREHOLDERS’ EQUITY AND COMPENSATION PLANS (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
Equity [Abstract] |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following tables present the changes in accumulated other comprehensive income after-tax by component:
Three months ended
(in thousands) | Net Unrealized Gain on Available-for-Sale Debt Securities |  | Unamortized Gain (Loss) on Held-to-Maturity Securities |  | Net Unrealized Gain (Loss) on Cash Flow Hedges |  | Total
Balance, March 31, 2021 | $ | 11,400 |  |  | $ | 18,159 |  |  | $ | (3,382) |  |  | $ | 26,177 |
Net change | $ | 2,850 |  |  | $ | (837) |  |  | $ | 82 |  |  | $ | 2,095 |
Balance, June 30, 2021 | $ | 14,250 |  |  | $ | 17,322 |  |  | $ | (3,300) |  |  | $ | 28,272 |
Balance, March 31, 2020 | $ | 25,538 |  |  | $ | 4,778 |  |  | $ | (7,219) |  |  | $ | 23,097 |
Net change | $ | 10,984 |  |  | $ | (329) |  |  | $ | (943) |  |  | $ | 9,712 |
Transfer from available-for-sale to held-to-maturity | (8,650) |  |  | 8,650 |  |  | — |  |  | — |
Balance, June 30, 2020 | $ | 27,872 |  |  | $ | 13,099 |  |  | $ | (8,162) |  |  | $ | 32,809 |
Six months ended
(in thousands) | Net Unrealized Gain (Loss) on Available-for-Sale Debt Securities |  | Unamortized Gain (Loss) on Held-to-Maturity Securities |  | Net Unrealized Gain (Loss) on Cash Flow Hedges |  | Total
Balance, December 31, 2020 | $ | 22,320 |  |  | $ | 19,308 |  |  | $ | (4,508) |  |  | $ | 37,120 |
Net change | $ | (8,070) |  |  | $ | (1,986) |  |  | $ | 1,208 |  |  | $ | (8,848) |
Balance, June 30, 2021 | $ | 14,250 |  |  | $ | 17,322 |  |  | $ | (3,300) |  |  | $ | 28,272 |
Balance, December 31, 2019 | $ | 14,977 |  |  | $ | 4,934 |  |  | $ | (2,162) |  |  | $ | 17,749 |
Net change | $ | 21,545 |  |  | $ | (485) |  |  | $ | (6,000) |  |  | $ | 15,060 |
Transfer from available-for-sale to held-to-maturity | $ | (8,650) |  |  | $ | 8,650 |  |  | $ | — |  |  | $ | — |
Balance, June 30, 2020 | $ | 27,872 |  |  | $ | 13,099 |  |  | $ | (8,162) |  |  | $ | 32,809 |
Schedule of Pre-tax and After-tax Changes in the Components of Other Comprehensive Income | The following tables present the pre-tax and after-tax changes in the components of other comprehensive income:
| Three months ended June 30,
| 2021 |  | 2020
(in thousands) | Pre-tax |  | Tax effect |  | After-tax |  | Pre-tax |  | Tax effect |  | After-tax
Change in unrealized gain on available-for-sale debt securities | $ | 3,795 |  |  | $ | 945 |  |  | $ | 2,850 |  |  | $ | 14,587 |  |  | $ | 3,603 |  |  | $ | 10,984 |
Reclassification of gain on held-to-maturity securities(b) | (1,115) |  |  | (278) |  |  | (837) |  |  | (437) |  |  | (108) |  |  | (329) |
Change in unrealized loss on cash flow hedges arising during the period | (273) |  |  | (68) |  |  | (205) |  |  | (1,563) |  |  | (386) |  |  | (1,177) |
Reclassification of loss on cash flow hedges(b) | 382 |  |  | 95 |  |  | 287 |  |  | 311 |  |  | 77 |  |  | 234 |
Total other comprehensive income | $ | 2,789 |  |  | $ | 694 |  |  | $ | 2,095 |  |  | $ | 12,898 |  |  | $ | 3,186 |  |  | $ | 9,712 |
| Six months ended June 30,
| 2021 |  | 2020
(in thousands) | Pre-tax |  | Tax effect |  | After-tax |  | Pre-tax |  | Tax effect |  | After-tax
Change in unrealized gain (loss) on available-for-sale debt securities | $ | (10,746) |  |  | $ | (2,676) |  |  | $ | (8,070) |  |  | $ | 28,616 |  |  | $ | 7,068 |  |  | $ | 21,548 |
Reclassification adjustment for realized gain on sale of available-for-sale debt securities(a) | — |  |  | — |  |  | — |  |  | (4) |  |  | (1) |  |  | (3) |
Reclassification of gain on held-to-maturity securities(b) | (2,644) |  |  | (658) |  |  | (1,986) |  |  | (644) |  |  | (159) |  |  | (485) |
Change in unrealized gain (loss) on cash flow hedges arising during the period | 855 |  |  | 213 |  |  | 642 |  |  | (8,442) |  |  | (2,085) |  |  | (6,357) |
Reclassification of loss on cash flow hedges(b) | 754 |  |  | 188 |  |  | 566 |  |  | 474 |  |  | 117 |  |  | 357 |
Total other comprehensive income | $ | (11,781) |  |  | $ | (2,933) |  |  | $ | (8,848) |  |  | $ | 20,000 |  |  | $ | 4,940 |  |  | $ | 15,060 |
(a)The pre-tax amount is reported in noninterest income/expense in the Consolidated Statements of Operations (b)The pre-tax amount is reported in interest income/expense in the Consolidated Statements of Operations
Schedule of Stock Options Roll Forward | During the six months ended June 30, 2021, employee stock options were granted under the Amended and Restated 2018 Stock Incentive Plan. Various information related to the stock options is shown below.
| Employee Stock Options |  | Weighted Average Life |  | Weighted Average Price |  | Shares Exercisable |  | Weighted Average Exercise Price
Options Outstanding, December 31, 2020 | — |  |  |  |  |  |  |  |  |
Options granted | 111,804 |  |  |  |  | $ | 43.81 |  |  | — |  |  | $ | — |
Options forfeited | (1,500) |  |  |  |  |  |  |  |  |
Options Outstanding, June 30, 2021 | 110,304 |  |  | 9.7 |  |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669686-108580 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 45 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in stock options. + References No definition available. + Details
Name: | us-gaap_ScheduleOfStockOptionsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration