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CAPITAL RATIOS AND SHAREHOLDERS' EQUITY (Tables) | 9 Months Ended
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Sep. 30, 2022
Equity [Abstract] |
Schedule of Actual and Required Capital Ratios | The actual and required capital ratios were as follows:
|  | September 30, 2022 |  | December 31, 2021 |  | Minimum Capital Requirement
Company (consolidated) |  |  |  |  |  |
Total capital to risk-weighted assets |  | 15.1 | % |  | 17.3 | % |  | 8.0 | %
Common equity tier 1 capital to risk-weighted assets |  | 12.7 |  |  | 15.0 |  |  | 4.5 |
Tier 1 capital to risk-weighted assets |  | 13.0 |  |  | 15.3 |  |  | 6.0 |
Tier 1 capital to average assets |  | 10.1 |  |  | 10.5 |  |  | 4.0 |
|  | September 30, 2022 |  | December 31, 2021 |  | Regulatory Minimum to be Adequately Capitalized |  | Regulatory Minimum to be Well Capitalized
Bank |  |  |  |  |  |  |  |
Total capital to risk-weighted assets |  | 13.6 | % |  | 15.9 | % |  | 8.0 | % |  | 10.0 | %
Common equity tier 1 capital to risk-weighted assets |  | 12.7 |  |  | 14.8 |  |  | 4.5 |  |  | 6.5 |
Tier 1 capital to risk-weighted assets |  | 12.7 |  |  | 14.8 |  |  | 6.0 |  |  | 8.0 |
Tier 1 capital to average assets |  | 9.9 |  |  | 10.1 |  |  | 4.0 |  |  | 5.0 |
Schedule of Components of Accumulated Other Comprehensive Income (Loss) | Components of accumulated other comprehensive (loss) is as follows:
(In thousands) |  | September 30, 2022 |  | December 31, 2021
Other accumulated comprehensive income, before tax: |  |  |  |
Net unrealized holding (loss) on AFS securities |  | $ | (246,739) |  |  | $ | (1,806) |
Net unrealized (loss) on cash flow hedging derivatives |  | (5,555) |  |  | — |
Net unrealized holding (loss) on pension plans |  | (2,518) |  |  | (2,518) |
Income taxes related to items of accumulated other comprehensive income: |  |  |  |
Net unrealized tax benefit on AFS securities |  | 64,150 |  |  | 407 |
Net unrealized tax benefit on cash flow hedging derivatives |  | 1,494 |  |  | — |
Net unrealized tax benefit on pension plans |  | 674 |  |  | 674 |
Accumulated other comprehensive loss |  | $ | (188,494) |  |  | $ | (3,243) |
Schedule of Components of Other Comprehensive Income (Loss) | The following table presents the components of other comprehensive (loss) for the three and nine months ended September 30, 2022 and 2021:
(In thousands) |  | Before Tax |  | Tax Effect |  | Net of Tax
Three Months Ended September 30, 2022 |  |  |  |  |  |
Net unrealized holding loss on AFS securities: |  | x |  |  |  |
Net unrealized (losses) arising during the period |  | $ | (83,073) |  |  | $ | 21,639 |  |  | $ | (61,434) |
Less: reclassification adjustment for gains realized in net income |  | — |  |  | — |  |  | — |
Net unrealized holding (loss) on AFS securities |  | (83,073) |  |  | 21,639 |  |  | (61,434) |
Net unrealized loss on cash flow hedging derivatives: |  |  |  |  |  |
Net unrealized (loss) arising during the period |  | (5,555) |  |  | 1,494 |  |  | (4,061) |
Less: reclassification adjustment for (losses) realized in net income |  | — |  |  | — |  |  | — |
Net unrealized (loss) on cash flow hedging derivatives |  | (5,555) |  |  | 1,494 |  |  | (4,061) |
Other comprehensive (loss) |  | $ | (88,628) |  |  | $ | 23,133 |  |  | $ | (65,495) |
Three Months Ended September 30, 2021 |  |  |  |  |  |
Net unrealized holding loss on AFS securities: |  |  |  |  |  |
Net unrealized (losses) arising during the period |  | $ | (10,098) |  |  | $ | 2,575 |  |  | $ | (7,523) |
Less: reclassification adjustment for gains realized in net income |  | — |  |  | — |  |  | — |
Net unrealized holding (loss) on AFS securities |  | (10,098) |  |  | 2,575 |  |  | (7,523) |
Net unrealized loss on cash flow hedging derivatives: |  |  |  |  |  |
Net unrealized (loss) arising during the period |  | — |  |  | — |  |  | — |
Less: reclassification adjustment for (losses) realized in net income |  | — |  |  | — |  |  | — |
Net unrealized gain on cash flow hedging derivatives |  | — |  |  | — |  |  | — |
Other comprehensive (loss) |  | $ | (10,098) |  |  | $ | 2,575 |  |  | $ | (7,523) |
(In thousands) |  | Before Tax |  | Tax Effect |  | Net of Tax
Nine Months Ended September 30, 2022 |  |  |  |  |  |
Net unrealized holding loss on AFS securities: |  |  |  |  |  |
Net unrealized (losses) arising during the period |  | $ | (244,927) |  |  | $ | 63,741 |  |  | $ | (181,186) |
Less: reclassification adjustment for gains realized in net income |  | 6 |  |  | (2) |  |  | 4 |
Net unrealized holding (loss) on AFS securities |  | (244,933) |  |  | 63,743 |  |  | (181,190) |
Net unrealized loss on cash flow hedging derivatives: |  |  |  |  |  |
Net unrealized (loss) arising during the period |  | (5,555) |  |  | 1,494 |  |  | (4,061) |
Less: reclassification adjustment for (losses) realized in net income |  | — |  |  | — |  |  | — |
Net unrealized loss on cash flow hedging derivatives |  | (5,555) |  |  | 1,494 |  |  | (4,061) |
Other comprehensive (loss) |  | $ | (250,488) |  |  | $ | 65,237 |  |  | $ | (185,251) |
Nine Months Ended September 30, 2021 |  |  |  |  |  |
Net unrealized holding loss on AFS securities: |  |  |  |  |  |
Net unrealized (losses) arising during the period |  | $ | (31,718) |  |  | $ | 8,096 |  |  | $ | (23,622) |
Less: reclassification adjustment for gains realized in net income |  | — |  |  | — |  |  | — |
Net unrealized holding (loss) on AFS securities |  | (31,718) |  |  | 8,096 |  |  | (23,622) |
Net unrealized loss on cash flow hedging derivatives: |  |  |  |  |  |
Net unrealized (loss) arising during the period |  | — |  |  | — |  |  | — |
Less: reclassification adjustment for (losses) realized in net income |  | — |  |  | — |  |  | — |
Net unrealized gain on cash flow hedging derivatives |  | — |  |  | — |  |  | — |
Other comprehensive (loss) |  | $ | (31,718) |  |  | $ | 8,096 |  |  | $ | (23,622) |
Schedule of Gross Changes in Each Component of Accumulated Other Comprehensive Income | The following table presents the changes in each component of accumulated other comprehensive (loss), for the three and nine months ended September 30, 2022 and 2021:
(In thousands) |  | Net unrealized holding loss on AFS Securities |  | Net loss on effective cash flow hedging derivatives |  |  |  | Net unrealized holding loss on pension plans |  | Total
Three Months Ended September 30, 2022 |  |  |  |  |  |  |  |  |  |
Balance at Beginning of Period |  | $ | (121,154) |  |  | $ | — |  |  |  |  | $ | (1,845) |  |  | $ | (122,999) |
Other comprehensive (loss) before reclassifications |  | (61,434) |  |  | (4,061) |  |  |  |  | — |  |  | (65,495) |
Less: amounts reclassified from accumulated other comprehensive (loss) |  | — |  |  | — |  |  |  |  | — |  |  | — |
Total other comprehensive (loss) |  | (61,434) |  |  | (4,061) |  |  |  |  | — |  |  | (65,495) |
Balance at End of Period |  | $ | (182,588) |  |  | $ | (4,061) |  |  |  |  | $ | (1,845) |  |  | $ | (188,494) |
Three Months Ended September 30, 2021 |  |  |  |  |  |  |  |  |  |
Balance at Beginning of Period |  | $ | 17,359 |  |  | $ | — |  |  |  |  | $ | (2,587) |  |  | $ | 14,772 |
Other comprehensive (loss) before reclassifications |  | (7,523) |  |  | — |  |  |  |  | — |  |  | (7,523) |
Less: amounts reclassified from accumulated other comprehensive (loss) |  | — |  |  | — |  |  |  |  | — |  |  | — |
Total other comprehensive income |  | (7,523) |  |  | — |  |  |  |  | — |  |  | (7,523) |
Balance at End of Period |  | $ | 9,836 |  |  | $ | — |  |  |  |  | $ | (2,587) |  |  | $ | 7,249 |
Nine Months Ended September 30, 2022 |  |  |  |  |  |  |  |  |  |
Balance at Beginning of Period |  | $ | (1,398) |  |  | $ | — |  |  |  |  | $ | (1,845) |  |  | $ | (3,243) |
Other comprehensive (loss) before reclassifications |  | (181,186) |  |  | (4,061) |  |  |  |  | — |  |  | (185,247) |
Less: amounts reclassified from accumulated other comprehensive income |  | 4 |  |  | — |  |  |  |  | — |  |  | 4 |
Total other comprehensive (loss) |  | (181,190) |  |  | (4,061) |  |  |  |  | — |  |  | (185,251) |
Balance at End of Period |  | $ | (182,588) |  |  | $ | (4,061) |  |  |  |  | $ | (1,845) |  |  | $ | (188,494) |
Nine Months Ended September 30, 2021 |  |  |  |  |  |  |  |  |  |
Balance at Beginning of Period |  | $ | 33,458 |  |  | $ | — |  |  |  |  | $ | (2,587) |  |  | $ | 30,871 |
Other comprehensive (loss) before reclassifications |  | (23,622) |  |  | — |  |  |  |  |  |  | (23,622) |
Less: amounts reclassified from accumulated other comprehensive income |  | — |  |  | — |  |  |  |  | — |  |  | — |
Total other comprehensive (loss) |  | (23,622) |  |  | — |  |  |  |  | — |  |  | (23,622) |
Balance at End of Period |  | $ | 9,836 |  |  | $ | — |  |  |  |  | $ | (2,587) |  |  | $ | 7,249 |
Schedule of Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Income | The following table presents the amounts reclassified out of each component of accumulated other comprehensive income for the three and nine months ended September 30, 2022 and 2021:
|  |  |  |  |  | Affected Line Item in the
|  | Three Months Ended September 30, |  | Statement where Net Income
(In thousands) |  | 2022 |  | 2021 |  | is Presented
Realized gains on AFS securities: |  |  |  |  |  |
|  | $ | — |  |  | $ | — |  |  | Non-interest income
|  | — |  |  | — |  |  | Retained earnings
|  | — |  |  | — |  |  | Tax expense
|  | — |  |  | — |  |  | Net of tax
Total reclassifications for the period |  | $ | — |  |  | $ | — |  |  | Net of tax
|  |  |  |  |  | Affected Line Item in the
|  | Nine Months Ended September 30, |  | Statement where Net Income
(In thousands) |  | 2022 |  | 2021 |  | is Presented
Realized gains on AFS securities: |  |  |  |  |  |
|  | $ | 6 |  |  |  |  | Non-interest income
|  | (2) |  |  | — |  |  | Tax expense
|  | 4 |  |  | — |  |  | Net of tax
Total reclassifications for the period |  | $ | 4 |  |  | $ | — |  |  | Net of tax

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