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ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables) | 9 Months Ended
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Sep. 30, 2022
Equity [Abstract] |
Schedule of Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive (loss) income, net of income taxes, as of September 30, 2022 and December 31, 2021 consisted of:
| September 30, |  | December 31,
| 2022 |  | 2021
| (In thousands)
Unrealized (loss) gain on securities available-for-sale which are not other-than-temporarily impaired | $ | (122,242) |  |  | $ | 7,292 |
Income tax effect of unrealized loss (gain) on securities available-for-sale | 18,097 |  |  | (1,629) |
Net unrealized (loss) gain on securities available-for-sale which are not other-than-temporarily impaired | (104,145) |  |  | 5,663 |
Unrealized gain (loss) on cash flow hedges | 410 |  |  | (804) |
Income tax effect of unrealized (gain) loss on cash flow hedges | (154) |  |  | 301 |
Net unrealized gain (loss) on cash flow hedges | 256 |  |  | (503) |
Accumulated other comprehensive (loss) income, net of income taxes | $ | (103,889) |  |  | $ | 5,160 |
The following table presents changes in accumulated other comprehensive (loss) income by component, net of taxes, for the quarters and nine-month periods ended September 30, 2022 and 2021:
| Quarter Ended September 30, 2022
| Net unrealized loss on securities available-for-sale |  | Net unrealized gain on cash flow hedges |  | Accumulated other comprehensive (loss) income
| (In thousands)
Beginning balance | $ | (49,606) |  |  | $ | 104 |  |  | $ | (49,502) |
Other comprehensive loss before reclassifications | (54,541) |  |  | (26) |  |  | (54,567) |
Amounts reclassified out of accumulated other comprehensive loss | 2 |  |  | 178 |  |  | 180 |
Other comprehensive (loss) income | (54,539) |  |  | 152 |  |  | (54,387) |
Ending balance | $ | (104,145) |  |  | $ | 256 |  |  | $ | (103,889) |
| Nine-Month Period Ended September 30, 2022
| Net unrealized loss on securities available-for-sale |  | Net unrealized gain on cash flow hedges |  | Accumulated other comprehensive (loss) income
| (In thousands)
Beginning balance | $ | 5,663 |  |  | $ | (503) |  |  | $ | 5,160 |
Other comprehensive (loss) income before reclassifications | (109,814) |  |  | 204 |  |  | (109,610) |
Amounts reclassified out of accumulated other comprehensive (loss) income | 6 |  |  | 555 |  |  | 561 |
Other comprehensive (loss) income | (109,808) |  |  | 759 |  |  | (109,049) |
Ending balance | $ | (104,145) |  |  | $ | 256 |  |  | $ | (103,889) |
| Quarter Ended September 30, 2021
| Net unrealized gains on securities available-for-sale |  | Net unrealized loss on cash flow hedges |  | Accumulated other comprehensive income
| (In thousands)
Beginning balance | $ | 8,408 |  |  | $ | (808) |  |  | $ | 7,600 |
Other comprehensive income (loss) before reclassifications | 920 |  |  | (352) |  |  | 568 |
Amounts reclassified out of accumulated other comprehensive income | 2 |  |  | 450 |  |  | 452 |
Other comprehensive income | 922 |  |  | 98 |  |  | 1,020 |
Ending balance | $ | 9,330 |  |  | $ | (710) |  |  | $ | 8,620 |
| Nine-Month Period Ended September 30, 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 | (2,767) |  |  | (1,001) |  |  | (3,768) |
Amounts reclassified out of accumulated other comprehensive income | 5 |  |  | 1,361 |  |  | 1,366 |
Other comprehensive (loss) income | (2,762) |  |  | 360 |  |  | (2,402) |
Ending balance | $ | 9,330 |  |  | $ | (710) |  |  | $ | 8,620 |
Schedule of Reclassifications Out of Other Comprehensive Income | The following table presents reclassifications out of accumulated other comprehensive (loss) income for the quarters and nine-month periods ended September 30, 2022 and 2021:
| Amount reclassified out of accumulated other comprehensive (loss) income quarter ended September 30, |  | Affected Line Item in Consolidated Statement of Operations
| 2022 |  | 2021 |  |  |
| (In thousands) |  |
Cash flow hedges: |  |  |  |  |  |  |
Interest-rate contracts | $ | 178 |  |  | $ | 450 |  |  |  |  | Net interest expense
Available-for-sale securities: |  |  |  |  |  |  |
Tax effect from changes in tax rates | 2 |  |  | 2 |  |  |  |  | Income tax expense
| $ | 180 |  |  | $ | 452 |  |  |  |  |
| Amount reclassified out of accumulated other comprehensive (loss) income nine-month period ended September 30, |  | Affected Line Item in Consolidated Statement of Operations
| 2022 |  | 2021 |  |  |
| (In thousands) |  |
Cash flow hedges: |  |  |  |  |  |  |
Interest-rate contracts | $ | 555 |  |  | $ | 1,361 |  |  |  |  | Net interest expense
Available-for-sale securities: |  |  |  |  |  |  |
Tax effect from changes in tax rates | 6 |  |  | 5 |  |  |  |  | Income tax expense
| $ | 561 |  |  | $ | 1,366 |  |  |  |  |

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