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SHAREHOLDERS’ EQUITY AND COMPENSATION PLANS
 3 Months Ended
Mar. 31, 2021
Equity [Abstract]  
Accumulated Other Comprehensive Income SHAREHOLDERS’ EQUITY
Shareholders’ Equity

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 (Loss) on Available-for-Sale Debt SecuritiesUnamortized Gain (Loss) on Held-to-Maturity SecuritiesNet Unrealized Gain (Loss) on Cash Flow HedgesTotal
Balance, December 31, 2021$5,271 $15,684 $(2,178)$18,777 
Net change$(79,353)$(704)$2,020 $(78,037)
Transfer from available-for-sale to held-to-maturity$(197)$197 $— $— 
Balance, March 31, 2022$(74,279)$15,177 $(158)$(59,260)
Three months ended
(in thousands)Net Unrealized Gain (Loss) on Available-for-Sale Debt SecuritiesUnamortized Gain (Loss) on Held-to-Maturity SecuritiesNet Unrealized Gain (Loss) on Cash Flow HedgesTotal
Balance, December 31, 2020$22,320 $19,308 $(4,508)$37,120 
Net change$(10,920)$(1,149)$1,126 $(10,943)
Balance, March 31, 2021$11,400 $18,159 $(3,382)$26,177 

The following tables present the pre-tax and after-tax changes in the components of other comprehensive income:
Three months ended March 31,
20222021
(in thousands)Pre-taxTax effectAfter-taxPre-taxTax effectAfter-tax
Change in unrealized loss on available-for-sale debt securities$(106,087)$(26,734)$(79,353)$(14,541)$(3,621)$(10,920)
Reclassification of gain on held-to-maturity securities(b)
(941)(237)(704)(1,530)(381)(1,149)
Change in unrealized loss on cash flow hedges arising during the period2,341 590 1,751 1,128 281 847 
Reclassification of loss on cash flow hedges(b)
359 90 269 372 93 279 
Total other comprehensive loss$(104,328)$(26,291)$(78,037)$(14,571)$(3,628)$(10,943)
(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