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SHAREHOLDERS’ EQUITY (Tables) | 9 Months Ended
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Sep. 30, 2023
Equity [Abstract] |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following tables present the changes in accumulated other comprehensive income (loss) after-tax by component:
Three months ended
(in thousands) | Net Unrealized 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, 2023 | $ | (134,533) |  |  | $ | 11,861 |  |  | $ | (793) |  |  | $ | (123,465) |
Net change | (41,257) |  |  | (647) |  |  | (2,460) |  |  | (44,364) |
Balance, September 30, 2023 | $ | (175,790) |  |  | $ | 11,214 |  |  | $ | (3,253) |  |  | $ | (167,829) |
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) |
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, 2022 | $ | (144,549) |  |  | $ | 13,185 |  |  | $ | 1,032 |  |  | $ | (130,332) |
Net change | (31,241) |  |  | (1,971) |  |  | (4,285) |  |  | (37,497) |
Balance, September 30, 2023 | $ | (175,790) |  |  | $ | 11,214 |  |  | $ | (3,253) |  |  | $ | (167,829) |
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) |
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 loss:
| Three months ended September 30,
| 2023 |  | 2022
(in thousands) | Pre-tax |  | Tax effect |  | After-tax |  | Pre-tax |  | Tax effect |  | After-tax
Change in unrealized loss on available-for-sale securities | $ | (55,156) |  |  | $ | (13,899) |  |  | $ | (41,257) |  |  | $ | (60,539) |  |  | $ | (15,256) |  |  | $ | (45,283) |
Reclassification of gain on held-to-maturity securities(a) | (865) |  |  | (218) |  |  | (647) |  |  | (865) |  |  | (218) |  |  | (647) |
Change in unrealized gain (loss) on cash flow hedges | (3,588) |  |  | (904) |  |  | (2,684) |  |  | 1,557 |  |  | 392 |  |  | 1,165 |
Reclassification of loss on cash flow hedges(b) | 299 |  |  | 75 |  |  | 224 |  |  | 73 |  |  | 18 |  |  | 55 |
Total other comprehensive loss | $ | (59,310) |  |  | $ | (14,946) |  |  | $ | (44,364) |  |  | $ | (59,774) |  |  | $ | (15,064) |  |  | $ | (44,710) |
| Nine months ended September 30,
| 2023 |  | 2022
(in thousands) | Pre-tax |  | Tax effect |  | After-tax |  | Pre-tax |  | Tax effect |  | After-tax
Change in unrealized loss on available-for-sale securities | $ | (41,385) |  |  | $ | (10,429) |  |  | $ | (30,956) |  |  | $ | (232,457) |  |  | $ | (58,579) |  |  | $ | (173,878) |
Reclassification of gain on sale of available-for-sale securities(a) | (381) |  |  | (96) |  |  | (285) |  |  | — |  |  | — |  |  | — |
Reclassification of gain on held-to-maturity securities(a) | (2,635) |  |  | (664) |  |  | (1,971) |  |  | (2,743) |  |  | (691) |  |  | (2,052) |
Change in unrealized gain (loss) on cash flow hedges | (6,346) |  |  | (1,599) |  |  | (4,747) |  |  | 4,615 |  |  | 1,164 |  |  | 3,451 |
Reclassification of loss on cash flow hedges(b) | 616 |  |  | 154 |  |  | 462 |  |  | 682 |  |  | 171 |  |  | 511 |
Total other comprehensive loss | $ | (50,131) |  |  | $ | (12,634) |  |  | $ | (37,497) |  |  | $ | (229,903) |  |  | $ | (57,935) |  |  | $ | (171,968) |
(a)The pre-tax amount is reported in noninterest income/expense in the Consolidated Statements of Income.
(b)The pre-tax amount is reported in interest income/expense in the Consolidated Statements of Income.

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