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Accumulated Other Comprehensive Income (Tables)
 12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income, net of income taxes, as of December 31, 2021 and 2020 consisted of:
December 31,
20212020
(In thousands)
Unrealized loss on securities available-for-sale which are not
other-than-temporarily impaired		$7,292 $14,262 
Income tax effect of unrealized loss on securities available-for-sale(1,629)(2,170)
Net unrealized gain on securities available-for-sale which are not
other-than-temporarily impaired		5,663 12,092 
Unrealized loss on cash flow hedges(804)(1,711)
Income tax effect of unrealized loss on cash flow hedges301 641 
Net unrealized loss on cash flow hedges(503)(1,070)
Accumulated other comprehensive income, net of income taxes$5,160 $11,022 
The following table presents changes in accumulated other comprehensive income by component, net of taxes, for years ended December 31, 2021, 2020 and 2019:
Year Ended December 31, 2021
Net unrealized
gains on
Securities
available-for-sale		Net unrealized
loss on
cash flow
hedges		Accumulated
other
comprehensive
(loss) income
(In thousands)
Beginning balance$12,092 $(1,070)$11,022 
Other comprehensive loss before reclassifications(6,454)(1,074)(7,528)
Amounts reclassified out of accumulated other comprehensive income25 1,641 1,666 
Other comprehensive income (loss)(6,429)567 (5,862)
Ending balance$5,663 $(503)$5,160 
Year Ended December 31, 2020
Net unrealized
gains on
Securities
available-for-sale		Net unrealized
loss on
cash flow
hedges		Accumulated
other
comprehensive
(loss) income
(In thousands)
Beginning balance$(441)$(567)$(1,008)
Other comprehensive income (loss) before reclassifications7,803 (2,491)5,312 
Amounts reclassified out of accumulated other comprehensive income4,730 1,988 6,718 
Other comprehensive income (loss)12,533 (503)12,030 
Ending balance$12,092 $(1,070)$11,022 
Year Ended December 31, 2019
Net unrealized
gains on
Securities
available-for-sale		Net unrealized
loss on
cash flow
hedges		Accumulated
other
comprehensive
(loss) income
(In thousands)
Beginning balance$(10,972)$9 $(10,963)
Transfer of securities held-to-maturity to available for sale [1]
(12,041)— $(12,041)
Other comprehensive income (loss) before reclassifications14,335 (2,442)11,893 
Amounts reclassified out of accumulated other comprehensive income8,237 1,866 10,103 
Other comprehensive income (loss)10,531 (576)9,955 
Ending balance$(441)$(567)$(1,008)
[1] Represents the unrealized loss, net of tax effect of the adoption of ASU No. 27-12, from reclassification of all mortgage backed securities with a carrying value of $424.7 million, from held-to-maturity portfolio into the available for sale portfolio.
Reclassifications Out of Other Comprehensive Income
The following table presents reclassifications out of accumulated other comprehensive income for the years ended December 31, 2021, 2020 and 2019:
Amount reclassified out of accumulated other comprehensive income Year Ended December 31,Affected Line Item in
Consolidated Statement of
Operations
202120202019
(In thousands)
Cash flow hedges:
Interest-rate contracts$1,641 $1,988 $1,866 Net interest expense
Available-for-sale securities:
Gain on sale of investments19 4,728 8,274 Net gain on sale of securities
Tax effect from changes in tax rates6 2 (37)Income tax expense
$1,666 $6,718 $10,103