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ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables) | 12 Months Ended
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Dec. 31, 2022
Equity [Abstract] |
Schedule of Accumulated Other Comprehensive Income (Loss) | 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 |
Schedule of Reclassifications Out of Other Comprehensive Income | 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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