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ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables) | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
Schedule of Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive loss, net of income taxes, as of December 31, 2023 and 2022 consisted of:
| December 31,
| 2023 |  | 2022
| (In thousands)
Unrealized loss on securities available-for-sale | $ | (78,497) |  |  | $ | (110,036) |
Income tax effect of unrealized loss on securities available-for-sale | 11,484 |  |  | 16,373 |
Net unrealized loss on securities available-for-sale | (67,013) |  |  | (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 | $ | (67,013) |  |  | $ | (93,409) |
The following table presents changes in accumulated other comprehensive loss by component, net of taxes, 2023, 2022 and 2021:
| Year Ended December 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 | 27,792 |  |  | (5,647) |  |  | 22,145 |  |  |  |  |  |  |
Amounts reclassified out of accumulated other comprehensive loss | (1,142) |  |  | 5,393 |  |  | 4,251 |  |  |  |  |  |  |
Other comprehensive income (loss) | 26,650 |  |  | (254) |  |  | 26,396 |  |  |  |  |  |  |
Ending balance | $ | (67,013) |  |  | $ | — |  |  | $ | (67,013) |  |  |  |  |  |  |
| Year Ended December 31, 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 | (99,087) |  |  | 24 |  |  | (99,063) |  |  |  |  |  |  |
Amounts reclassified out of accumulated other comprehensive 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 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 |
Schedule of Reclassifications Out of Other Comprehensive Income | The following table presents reclassifications out of accumulated other comprehensive loss for 2023, 2022 and 2021:
| Amount reclassified out of accumulated other comprehensive loss Year Ended December 31, |  | Affected Line Item in Consolidated Statement of Operations
| 2023 |  | 2022 |  | 2021 |
| (In thousands) |  |
Cash flow hedges: |  |  |  |  |  |  |
Interest-rate contracts | $ | 5,393 |  |  | $ | 733 |  |  | $ | 1,641 |  |  | Net interest expense
Available-for-sale securities: |  |  |  |  |  |  |
(Loss) gain on sale of investments | (1,149) |  |  | (247) |  |  | 19 |  |  | Net (loss) gain on sale of securities
Tax effect from changes in tax rates | 7 |  |  | 8 |  |  | 6 |  |  | Income tax expense
| $ | 4,251 |  |  | $ | 494 |  |  | $ | 1,666 |  |  |

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