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ACCUMULATED OTHER COMPREHENSIVE LOSS

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

ACCUMULATED OTHER COMPREHENSIVE LOSS

Accumulated other comprehensive loss, net of income taxes, as of March 31, 2023 and December 31, 2022 consisted of:

			March 31,						December 31,
			2023						2022
			(In thousands)
Unrealized loss on securities available-for-sale			$	(92,112)					$	(110,036)
Income tax effect of unrealized loss on securities available-for-sale			13,600						16,373
Net unrealized loss on securities available-for-sale			(78,512)						(93,663)
Unrealized gain on cash flow hedges			275						406
Income tax effect of unrealized gain on cash flow hedges			(103)						(152)
Net unrealized gain on cash flow hedges			172						254
Accumulated other comprehensive loss, net of income taxes			$	(78,340)					$	(93,409)

The following table presents changes in accumulated other comprehensive loss by component, net of taxes, for the quarters ended March 31, 2023 and 2022:

			Quarter Ended March 31, 2023
			Net unrealized loss on securities available-for-sale						Net unrealized gain on cash flow hedges						Accumulated other comprehensive loss
			(In thousands)
Beginning balance			$	(93,663)					$	254					$	(93,409)
Other comprehensive income (loss) before reclassifications			15,149						(673)						14,476
Amounts reclassified out of accumulated other comprehensive loss			2						591						593
Other comprehensive income (loss)			15,151						(82)						15,069
Ending balance			$	(78,512)					$	172					$	(78,340)

			Quarter Ended March 31, 2022
			Net unrealized loss on securities available-for-sale						Net unrealized loss on cash flow hedges						Accumulated other comprehensive loss
			(In thousands)
Beginning balance			$	5,663					$	(503)					$	5,160
Other comprehensive income (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)

The following table presents reclassifications out of accumulated other comprehensive loss for the quarters ended March 31, 2023 and 2022:

			Amount reclassified out of accumulated other comprehensive loss Quarter Ended March 31,												Affected Line Item in Consolidated Statement of Operations
																		2023						2022
			(In thousands)
Cash flow hedges:
Interest-rate contracts			$	591					$	193											Net interest expense
Available-for-sale securities:
Tax effect from changes in tax rates			2						2												Income tax expense
			$	593					$	195

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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://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//220/tableOfContent

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X

- References

No definition available.

+ Details

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