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ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables) | 3 Months Ended
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Mar. 31, 2022
Equity [Abstract] |
Schedule of Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive (loss) income, net of income taxes, as of March 31, 2022 and December 31, 2021 consisted of:
| March 31, |  | December 31,
| 2022 |  | 2021
| (In thousands)
Unrealized (loss) gain on securities available-for-sale which are not other-than-temporarily impaired | $ | (23,460) |  |  | $ | 7,292 |
Income tax effect of unrealized loss (gain) on securities available-for-sale | 2,938 |  |  | (1,629) |
Net unrealized (loss) gain on securities available-for-sale which are not other-than-temporarily impaired | (20,522) |  |  | 5,663 |
Unrealized loss on cash flow hedges | (185) |  |  | (804) |
Income tax effect of unrealized loss on cash flow hedges | 69 |  |  | 301 |
Net unrealized loss on cash flow hedges | (116) |  |  | (503) |
Accumulated other comprehensive (loss) income, net of income taxes | $ | (20,638) |  |  | $ | 5,160 |
The following table presents changes in accumulated other comprehensive (loss) income by component, net of taxes, for quarters ended March 31, 2022 and 2021:
| Quarter Ended March 31, 2022
| Net unrealized loss on securities available-for-sale |  | Net unrealized loss on cash flow hedges |  | Accumulated other comprehensive (loss) income
| (In thousands)
Beginning balance | $ | 5,663 |  |  | $ | (503) |  |  | $ | 5,160 |
Other comprehensive (loss) income before reclassifications | (26,187) |  |  | 194 |  |  | (25,993) |
Amounts reclassified out of accumulated other comprehensive income | 2 |  |  | 193 |  |  | 195 |
Other comprehensive (loss) income | (26,185) |  |  | 387 |  |  | (25,798) |
Ending balance | $ | (20,522) |  |  | $ | (116) |  |  | $ | (20,638) |
| Quarter Ended March 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) income before reclassifications | (4,948) |  |  | (304) |  |  | (5,252) |
Amounts reclassified out of accumulated other comprehensive income | 1 |  |  | 459 |  |  | 460 |
Other comprehensive (loss) income | (4,947) |  |  | 155 |  |  | (4,792) |
Ending balance | $ | 7,145 |  |  | $ | (915) |  |  | $ | 6,230 |
Schedule of Reclassifications Out of Other Comprehensive Income | The following table presents reclassifications out of accumulated other comprehensive (loss) income for the quarters ended March 31, 2022 and 2021:
| Amount reclassified out of accumulated other comprehensive income Quarter Ended March 31, |  | Affected Line Item in Consolidated Statement of Operations
| 2022 |  | 2021 |  |  |
| (In thousands) |  |
Cash flow hedges: |  |  |  |  |  |  |
Interest-rate contracts | $ | 193 |  |  | $ | 459 |  |  |  |  | Net interest expense
Available-for-sale securities: |  |  |  |  |  |  |
Tax effect from changes in tax rates | 2 |  |  | 1 |  |  |  |  | Income tax expense
| $ | 195 |  |  | $ | 460 |  |  |  |  |

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