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SHAREHOLDERS’ EQUITY | 9 Months Ended
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Sep. 30, 2021
Equity [Abstract] |
SHAREHOLDERS’ EQUITY | SHAREHOLDERS’ EQUITY Share Repurchases/Retirement The Company periodically adopts share repurchase plans that authorize open market repurchases of common stock. Shares acquired through the repurchase plan are classified as treasury stock or the shares are immediately retired upon settlement, depending on plan authorization. When shares are retired, the excess of repurchase price over par is allocated between additional paid in capital and retained earnings. The amount allocated to additional paid in capital is limited to the pro rata portion of additional paid in capital at the time of repurchase. In the second quarter 2022, the Company retired 1,980,093 shares of treasury stock. The retirement decreased additional paid in capital by $27.7 million and retained earnings by $45.8 million. 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 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 |
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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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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