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CAPITAL RATIOS AND SHAREHOLDERS' EQUITY (Tables)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Schedule of Actual and Required Capital Ratios

The actual and required capital ratios were as follows:

						March 31, 2023						December 31, 2022						Minimum Capital Requirement
Company (consolidated)
Total capital to risk-weighted assets						14.4		%				14.6		%				8.0		%
Common equity tier 1 capital to risk-weighted assets						12.1						12.4						4.5
Tier 1 capital to risk-weighted assets						12.4						12.6						6.0
Tier 1 capital to average assets						9.9						10.2						4.0

						March 31, 2023						December 31, 2022						Regulatory Minimum to be Adequately Capitalized						Regulatory Minimum to be Well Capitalized
Bank
Total capital to risk-weighted assets						13.2		%				13.6		%				8.0		%				10.0		%
Common equity tier 1 capital to risk-weighted assets						12.2						12.6						4.5						6.5
Tier 1 capital to risk-weighted assets						12.2						12.6						6.0						8.0
Tier 1 capital to average assets						9.8						10.2						4.0						5.0

Schedule of Components of Accumulated Other Comprehensive Income (Loss)

Components of accumulated other comprehensive (loss) is as follows:

(In thousands)						March 31, 2023						December 31, 2022
Other accumulated comprehensive income, before tax:
Net unrealized holding (loss) on AFS securities						$	(212,919)					$	(236,887)
Net unrealized (loss) on cash flow hedging derivatives						(869)						(6,667)
Net unrealized holding (loss) on pension plans						(844)						(844)
Income taxes related to items of accumulated other comprehensive income:
Net unrealized tax benefit on AFS securities						55,105						61,329
Net unrealized tax benefit on cash flow hedging derivatives						233						1,789
Net unrealized tax benefit on pension plans						228						228
Accumulated other comprehensive loss						$	(159,066)					$	(181,052)

Schedule of Components of Other Comprehensive Income (Loss)

The following table presents the components of other comprehensive (loss) for the three months ended March 31, 2023 and 2022:

(In thousands)						Before Tax						Tax Effect						Net of Tax
Three Months Ended March 31, 2023
Net unrealized holding gain on AFS securities:						x
Net unrealized gains arising during the period						$	23,968					$	(6,224)					$	17,744
Less: reclassification adjustment for gains realized in net income						—						—						—
Net unrealized holding gain on AFS securities						23,968						(6,224)						17,744
Net unrealized gain on cash flow hedging derivatives:
Net unrealized gain arising during the period						5,955						(1,598)						4,357
Less: reclassification adjustment for (losses) realized in net income						157						(42)						115
Net unrealized gain on cash flow hedging derivatives						5,798						(1,556)						4,242
Other comprehensive income						$	29,766					$	(7,780)					$	21,986
Three Months Ended March 31, 2022
Net unrealized holding loss on AFS securities:
Net unrealized (losses) arising during the period						$	(101,373)					$	26,379					$	(74,994)
Less: reclassification adjustment for gains realized in net income						—						—						—
Net unrealized holding (loss) on AFS securities						(101,373)						26,379						(74,994)
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)						$	(101,373)					$	26,379					$	(74,994)

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 months ended March 31, 2023 and 2022:

(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 March 31, 2023
Balance at Beginning of Period						$	(175,557)					$	(4,878)											$	(617)					$	(181,052)
Other comprehensive (loss) before reclassifications						17,744						4,357												—						22,101
Less: amounts reclassified from accumulated other comprehensive (loss)						—						115												—						115
Total other comprehensive (loss)						17,744						4,242												—						21,986
Balance at End of Period						$	(157,813)					$	(636)											$	(617)					$	(159,066)
Three Months Ended March 31, 2022
Balance at Beginning of Period						$	(1,398)					$	(1,845)											$	—					$	(3,243)
Other comprehensive (loss) before reclassifications						(74,994)						—												—						(74,994)
Less: amounts reclassified from accumulated other comprehensive (loss)						—						—												—						—
Total other comprehensive income						(74,994)						—												—						(74,994)
Balance at End of Period						$	(76,392)					$	(1,845)											$	—					$	(78,237)

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 months ended March 31, 2023 and 2022:

																		Affected Line Item in the
						Three Months Ended March 31,												Statement where Net Income
(In thousands)						2023						2022						is Presented
Realized (losses) on cash flow hedging derivatives:
						157						—						Interest expense
						—						—						Non-interest expense
						(42)						—						Tax benefit
Total reclassifications for the period						$	115					$	—					Net of tax

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