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SHAREHOLDERS’ EQUITY (Tables) | 9 Months Ended
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Sep. 30, 2022
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 (Loss) on Available-for-Sale Securities |  | Unamortized Gain (Loss) on Held-to-Maturity Securities |  | Net Unrealized Gain (Loss) on Cash Flow Hedges |  | Total
Balance, June 30, 2022 | $ | (123,521) |  |  | $ | 14,476 |  |  | $ | 564 |  |  | $ | (108,481) |
Net change | $ | (45,283) |  |  | $ | (647) |  |  | $ | 1,220 |  |  | $ | (44,710) |
Balance, September 30, 2022 | $ | (168,804) |  |  | $ | 13,829 |  |  | $ | 1,784 |  |  | $ | (153,191) |
Balance, June 30, 2021 | $ | 14,250 |  |  | $ | 17,322 |  |  | $ | (3,300) |  |  | $ | 28,272 |
Net change | $ | (7,870) |  |  | $ | (805) |  |  | $ | 305 |  |  | $ | (8,370) |
Balance, September 30, 2021 | $ | 6,380 |  |  | $ | 16,517 |  |  | $ | (2,995) |  |  | $ | 19,902 |
Nine 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, 2021 | $ | 5,271 |  |  | $ | 15,684 |  |  | $ | (2,178) |  |  | $ | 18,777 |
Net change | (173,878) |  |  | (2,052) |  |  | 3,962 |  |  | (171,968) |
Transfer from available-for-sale to held-to-maturity | $ | (197) |  |  | $ | 197 |  |  | $ | — |  |  | $ | — |
Balance, September 30, 2022 | $ | (168,804) |  |  | $ | 13,829 |  |  | $ | 1,784 |  |  | $ | (153,191) |
Balance, December 31, 2020 | $ | 22,320 |  |  | $ | 19,308 |  |  | $ | (4,508) |  |  | $ | 37,120 |
Net change | $ | (15,940) |  |  | $ | (2,791) |  |  | $ | 1,513 |  |  | $ | (17,218) |
Balance, September 30, 2021 | $ | 6,380 |  |  | $ | 16,517 |  |  | $ | (2,995) |  |  | $ | 19,902 |
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 September 30,
| 2022 |  | 2021
(in thousands) | Pre-tax |  | Tax effect |  | After-tax |  | Pre-tax |  | Tax effect |  | After-tax
Change in unrealized loss on available-for-sale debt securities | $ | (60,539) |  |  | $ | (15,256) |  |  | $ | (45,283) |  |  | $ | (10,479) |  |  | $ | (2,609) |  |  | $ | (7,870) |
Reclassification of gain on held-to-maturity securities(a) | (865) |  |  | (218) |  |  | (647) |  |  | (1,072) |  |  | (267) |  |  | (805) |
Change in unrealized gain on cash flow hedges arising during the period | 1,557 |  |  | 392 |  |  | 1,165 |  |  | 12 |  |  | 3 |  |  | 9 |
Reclassification of loss on cash flow hedges(a) | 73 |  |  | 18 |  |  | 55 |  |  | 395 |  |  | 99 |  |  | 296 |
Total other comprehensive loss | $ | (59,774) |  |  | $ | (15,064) |  |  | $ | (44,710) |  |  | $ | (11,144) |  |  | $ | (2,774) |  |  | $ | (8,370) |
| Nine months ended September 30,
| 2022 |  | 2021
(in thousands) | Pre-tax |  | Tax effect |  | After-tax |  | Pre-tax |  | Tax effect |  | After-tax
Change in unrealized loss on available-for-sale debt securities | $ | (232,457) |  |  | $ | (58,579) |  |  | $ | (173,878) |  |  | $ | (21,226) |  |  | $ | (5,285) |  |  | $ | (15,941) |
Reclassification of gain on held-to-maturity securities(a) | (2,743) |  |  | (691) |  |  | (2,052) |  |  | (3,716) |  |  | (925) |  |  | (2,791) |
Change in unrealized gain on cash flow hedges arising during the period | 4,615 |  |  | 1,164 |  |  | 3,451 |  |  | 867 |  |  | 216 |  |  | 651 |
Reclassification of loss on cash flow hedges(a) | 682 |  |  | 171 |  |  | 511 |  |  | 1,149 |  |  | 286 |  |  | 863 |
Total other comprehensive loss | $ | (229,903) |  |  | $ | (57,935) |  |  | $ | (171,968) |  |  | $ | (22,926) |  |  | $ | (5,708) |  |  | $ | (17,218) |
(a)The pre-tax amount is reported in interest income/expense in the Consolidated Statements of Operations.

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