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ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME | 12 Months Ended
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Dec. 31, 2022
Equity [Abstract] |
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME | ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME Accumulated other comprehensive (loss) income, net of income taxes, as of December 31, 2022 and 2021 consisted of:
| December 31,
| 2022 |  | 2021
| (In thousands)
Unrealized (loss) gain on securities available-for-sale | $ | (110,036) |  |  | $ | 7,292 |
Income tax effect of unrealized loss (gain) on securities available-for-sale | 16,373 |  |  | (1,629) |
Net unrealized (loss) gain on securities available-for-sale | (93,663) |  |  | 5,663 |
Unrealized gain (loss) on cash flow hedges | 406 |  |  | (804) |
Income tax effect of unrealized (gain) loss on cash flow hedges | (152) |  |  | 301 |
Net unrealized gain (loss) on cash flow hedges | 254 |  |  | (503) |
Accumulated other comprehensive (loss) income, net of income taxes | $ | (93,409) |  |  | $ | 5,160 |
The following table presents changes in accumulated other comprehensive (loss) income by component, net of taxes, for 2022, 2021 and 2020:
| Year Ended December 31, 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 | (99,087) |  |  | 24 |  |  | (99,063) |
Amounts reclassified out of accumulated other comprehensive (loss) income | (239) |  |  | 733 |  |  | 494 |
Other comprehensive (loss) income | (99,326) |  |  | 757 |  |  | (98,569) |
Ending balance | $ | (93,663) |  |  | $ | 254 |  |  | $ | (93,409) |
| 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) income before reclassifications | (6,454) |  |  | (1,074) |  |  | (7,528) |
Amounts reclassified out of accumulated other comprehensive income | 25 |  |  | 1,641 |  |  | 1,666 |
Other comprehensive (loss) income | (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 reclassifications | 7,803 |  |  | (2,491) |  |  | 5,312 |
Amounts reclassified out of accumulated other comprehensive income | 4,730 |  |  | 1,988 |  |  | 6,718 |
Other comprehensive income (loss) | 12,533 |  |  | (503) |  |  | 12,030 |
Ending balance | $ | 12,092 |  |  | $ | (1,070) |  |  | $ | 11,022 |
The following table presents reclassifications out of accumulated other comprehensive (loss) income for 2022, 2021 and 2020:
| Amount reclassified out of accumulated other comprehensive (loss) income |  | Affected Line Item in Consolidated Statement of Operations
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020 |
| (In thousands) |  |
Cash flow hedges: |  |  |  |  |  |  |
Interest-rate contracts | $ | 733 |  |  | $ | 1,641 |  |  | $ | 1,988 |  |  | Net interest expense
Available-for-sale securities: |  |  |  |  |  |  |
Gain on sale of investments | (247) |  |  | 19 |  |  | 4,728 |  |  | Net gain on sale of securities
Tax effect from changes in tax rates | 8 |  |  | 6 |  |  | 2 |  |  | Income tax expense
| $ | 494 |  |  | $ | 1,666 |  |  | $ | 6,718 |  |  |

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI https://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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