XML 35 R25.htm IDEA: XBRL DOCUMENT v3.23.3
ACCUMULATED OTHER COMPREHENSIVE LOSS
 9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE LOSS ACCUMULATED OTHER COMPREHENSIVE LOSS
Accumulated other comprehensive loss, net of income taxes, as of September 30, 2023 and December 31, 2022 consisted of:
September 30,December 31,
20232022
(In thousands)
Unrealized loss on securities available-for-sale$(150,480)$(110,036)
Income tax effect of unrealized loss on securities available-for-sale22,803 16,373 
Net unrealized loss on securities available-for-sale(127,677)(93,663)
Unrealized gain on cash flow hedges— 406 
Income tax effect of unrealized gain on cash flow hedges— (152)
Net unrealized gain on cash flow hedges— 254 
Accumulated other comprehensive loss, net of income taxes$(127,677)$(93,409)
The following table presents changes in accumulated other comprehensive loss by component, net of taxes, for the quarters and nine-month periods ended September 30, 2023 and 2022:
Quarter Ended September 30, 2023
Net unrealized
loss on
securities
available-for-sale		Net unrealized
gain on
cash flow
hedges		Accumulated
other
comprehensive
loss
(In thousands)
Beginning balance$(89,639)$75 $(89,564)
Other comprehensive loss before reclassifications(38,040)(2,449)(40,489)
Amounts reclassified out of accumulated other comprehensive loss2 2,374 2,376 
Other comprehensive loss (38,038)(75)(38,113)
Ending balance$(127,677)$— $(127,677)
Nine-Month Period Ended September 30, 2023
Net unrealized
loss on
securities
available-for-sale		Net unrealized
gain on
cash flow
hedges		Accumulated
other
comprehensive
loss
(In thousands)
Beginning balance$(93,663)$254 $(93,409)
Other comprehensive loss before reclassifications(32,871)(5,647)(38,518)
Amounts reclassified out of accumulated other comprehensive (loss) income(1,143)5,393 4,250 
Other comprehensive loss(34,014)(254)(34,268)
Ending balance$(127,677)$— $(127,677)
Quarter Ended September 30, 2022
Net unrealized
loss on
securities
available-for-sale		Net unrealized
loss on
cash flow
hedges		Accumulated
other
comprehensive
loss
(In thousands)
Beginning balance$(49,606)$104 $(49,502)
Other comprehensive loss before reclassifications(54,541)(26)(54,567)
Amounts reclassified out of accumulated other comprehensive income2 178 180 
Other comprehensive (loss) income(54,539)152 (54,387)
Ending balance$(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
(In thousands)
Beginning balance$5,663 $(503)$5,160 
Other comprehensive (loss) income before reclassifications(109,814)204 (109,610)
Amounts reclassified out of accumulated other comprehensive income6 555 561 
Other comprehensive (loss) income(109,808)759 (109,049)
Ending balance$(104,145)$256 $(103,889)
The following table presents reclassifications out of accumulated other comprehensive loss for the quarters and nine-month periods ended September 30, 2023 and 2022:
Amount reclassified out of accumulated other comprehensive loss Quarter Ended September 30,Affected Line Item in
Consolidated Statement of
Operations
20232022
(In thousands)
Cash flow hedges:
Interest-rate contracts$2,374 $178 Net interest expense
Available-for-sale securities:
Tax effect from changes in tax rates2 2 Income tax expense
$2,376 $180 
Affected Line Item in
Consolidated Statement of
Operations
Amount reclassified out of accumulated other comprehensive loss nine-month period ended September 30,
20232022
(In thousands)
Cash flow hedges:
Interest-rate contracts$5,393 $555 Net interest expense
Available-for-sale securities:
Loss on sale of investments(1,149)— Net loss on sale of securities
Tax effect from changes in tax rates6 6 Income tax expense
$4,250 $561