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CAPITAL RATIOS AND SHAREHOLDERS' EQUITY
 9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
CAPITAL RATIOS AND SHAREHOLDERS' EQUITY CAPITAL RATIOS AND SHAREHOLDERS’ EQUITY
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 assets15.1 %17.3 %8.0 %
Common equity tier 1 capital to risk-weighted assets12.7 15.0 4.5 
Tier 1 capital to risk-weighted assets13.0 15.3 6.0 
Tier 1 capital to average assets10.1 10.5 4.0 
September 30,
2022		December 31,
2021		Regulatory Minimum to be Adequately CapitalizedRegulatory
Minimum to be
Well Capitalized
Bank
Total capital to risk-weighted assets13.6 %15.9 %8.0 %10.0 %
Common equity tier 1 capital to risk-weighted assets12.7 14.8 4.5 6.5 
Tier 1 capital to risk-weighted assets12.7 14.8 6.0 8.0 
Tier 1 capital to average assets9.9 10.1 4.0 5.0 

The Company and the Bank are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Failure to meet capital requirements can initiate regulatory action. At each date shown, the Company met the minimum capital requirements and the Bank met the conditions to be classified as “well capitalized” under the relevant regulatory framework. To be categorized as well capitalized, an institution must maintain minimum total risk-based, Tier 1 risk-based, and Tier 1 leverage ratios as set forth in the table above.

As of January 1, 2019, banking organizations must maintain a minimum Common equity Tier 1 risk-based capital ratio of 7.0%, a minimum Tier 1 risk-based capital ratio of 8.5%, and a minimum Total risk-based capital ratio of 10.5%, including a 2.5% capital conservation buffer. Capital rules impose restrictions on capital distributions and certain discretionary cash bonus payments if the capital conservation buffer is not met.

At September 30, 2022, the capital levels of both the Company and the Bank exceeded all regulatory capital requirements and the Bank's regulatory capital ratios were above the minimum levels required to be considered well capitalized for regulatory purposes. The capital levels of both the Company and the Bank at September 30, 2022 also exceeded the minimum capital requirements including the currently applicable capital conservation buffer of 2.5%.
Accumulated other comprehensive (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 securities64,150 407 
Net unrealized tax benefit on cash flow hedging derivatives1,494 — 
Net unrealized tax benefit on pension plans674 674 
Accumulated other comprehensive loss$(188,494)$(3,243)

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 TaxTax EffectNet 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 $(7,523)
(In thousands)Before TaxTax EffectNet of Tax
Nine Months Ended September 30, 2022   
Net unrealized holding loss on AFS securities: 
Net unrealized (losses) arising during the period$(244,927)$63,741 $(181,186)
Less: reclassification adjustment for gains realized in net income6 (2)4 
Net unrealized holding (loss) on AFS securities(244,933)63,743 (181,190)
Net unrealized loss on cash flow hedging derivatives:   
Net unrealized (loss) arising during the period(5,555)1,494 (4,061)
Less: reclassification adjustment for (losses) realized in net income— — — 
Net unrealized loss on cash flow hedging derivatives(5,555)1,494 (4,061)
Other comprehensive (loss)$(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 $(23,622)
The following table presents the changes in each component of accumulated other comprehensive (loss), for the three and nine months ended September 30, 2022 and 2021:
(In thousands)Net unrealized
holding loss
on AFS Securities		Net loss on
effective cash
flow hedging derivatives		Net unrealized
holding loss
on pension plans		Total
Three Months Ended September 30, 2022    
Balance at Beginning of Period$(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 income4 — — 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 
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)20222021is 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)20222021is 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