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SHAREHOLDERS’ EQUITY
 9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
SHAREHOLDERS’ EQUITY SHAREHOLDERS’ EQUITY
Shareholders’ Equity

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 SecuritiesUnamortized Gain (Loss) on Held-to-Maturity SecuritiesNet Unrealized Gain (Loss) on Cash Flow HedgesTotal
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 $(153,191)
Nine months ended
(in thousands)Net Unrealized Gain (Loss) on Available-for-Sale Debt SecuritiesUnamortized Gain (Loss) on Held-to-Maturity SecuritiesNet Unrealized Gain (Loss) on Cash Flow HedgesTotal
Balance, December 31, 2022$(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 $(153,191)
The following tables present the pre-tax and after-tax changes in the components of other comprehensive loss:
Three months ended September 30,
20232022
(in thousands)Pre-taxTax effectAfter-taxPre-taxTax effectAfter-tax
Change in unrealized loss on available-for-sale securities$(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)$(44,710)
Nine months ended September 30,
20232022
(in thousands)Pre-taxTax effectAfter-taxPre-taxTax effectAfter-tax
Change in unrealized loss on available-for-sale securities$(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.