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ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables) | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Schedule of Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive loss, net of income taxes, as of June 30, 2024 and December 31, 2023 consisted of:
| June 30, 2024 |  | December 31, 2023
| (In thousands)
Unrealized loss on securities available-for-sale | $ | (101,810) |  |  | $ | (78,497) |
Income tax effect of unrealized loss on securities available-for-sale | 15,316 |  |  | 11,484 |
Net unrealized loss on securities available-for-sale | (86,494) |  |  | (67,013) |
Accumulated other comprehensive loss, net of income taxes | $ | (86,494) |  |  | $ | (67,013) |
The following table presents changes in accumulated other comprehensive loss by component, net of taxes, for the quarters and six-month periods ended June 30, 2024 and 2023:
| Net unrealized loss on securities available-for-sale |  |  |  |
| Quarter Ended June 30, 2024 |  | Six-Month Period Ended June 30, 2024
| (In thousands)
Beginning balance | $ | (81,731) |  |  |  |  |  |  | $ | (67,013) |  |  |  |  |
Other comprehensive loss before reclassifications | (4,765) |  |  |  |  |  |  | (19,474) |  |  |  |  |
Amounts reclassified out of accumulated other comprehensive loss | 2 |  |  |  |  |  |  | (7) |  |  |  |  |
Other comprehensive loss | (4,763) |  |  |  |  |  |  | (19,481) |  |  |  |  |
Ending balance | $ | (86,494) |  |  |  |  |  |  | $ | (86,494) |  |  |  |  |
| Quarter Ended June 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 | $ | (78,512) |  |  | $ | 172 |  |  | $ | (78,340) |
Other comprehensive loss before reclassifications | (9,980) |  |  | (2,525) |  |  | (12,505) |
Amounts reclassified out of accumulated other comprehensive loss | (1,147) |  |  | 2,428 |  |  | 1,281 |
Other comprehensive loss | (11,127) |  |  | (97) |  |  | (11,224) |
Ending balance | $ | (89,639) |  |  | $ | 75 |  |  | $ | (89,564) |
| Six-Month Period Ended June 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 income (loss) before reclassifications | 5,169 |  |  | (3,198) |  |  | 1,971 |
Amounts reclassified out of other comprehensive income (loss) | (1,145) |  |  | 3,019 |  |  | 1,874 |
Other comprehensive income (loss) | 4,024 |  |  | (179) |  |  | 3,845 |
Ending balance | $ | (89,639) |  |  | $ | 75 |  |  | $ | (89,564) |
Schedule of Reclassifications Out of Other Comprehensive Income | The following table presents reclassifications out of accumulated other comprehensive loss for the quarters and six-month periods ended June 30, 2024 and 2023:
| Amount reclassified out of accumulated other comprehensive loss | Affected Line Item in Consolidated Statement of Operations
| Quarter Ended June 30, |  | Six-Month Period Ended June 30, |  |
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
| (In thousands) |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |
Interest-rate contracts | $ | — |  |  | $ | 2,428 |  |  | $ | — |  |  | $ | 3,019 |  |  |  | Net interest expense
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |
Loss on sale of investments | — |  |  | (1,149) |  |  | (7) |  |  | (1,149) |  |  |  | Net loss on sale of securities
Tax effect from changes in tax rates | 2 |  |  | 2 |  |  | — |  |  | 4 |  |  |  | Income tax expense
| $ | 2 |  |  | $ | 1,281 |  |  | $ | (7) |  |  | $ | 1,874 |  |  |  |

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