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Stockholders' Equity
 9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Stockholders’ Equity Stockholders’ Equity
Total stockholders’ equity at September 30, 2022 was $1.98 billion, compared to $2.09 billion at December 31, 2021.
In January 2022, the Company’s Board of Directors approved a share repurchase program that authorizes the Company to repurchase up to $50.0 million of its common stock. During the three and nine months ended September 30, 2022, the Company repurchased 0 and 1,038,986 shares of common stock totaling $0 and $14.7 million as part of this program which was recorded as treasury stock.
For the three months ended September 30, 2022 and 2021, the Company paid cash dividends of $0.14 per common share. For both the nine months ended September 30, 2022 and 2021, the Company paid cash dividends of $0.42 per common share.
The following table presents the quarterly changes to accumulated other comprehensive income for the three and nine months ended September 30, 2022 and 2021:
Three Months Ended, Nine Months Ended,
September 30, 2022September 30, 2021September 30, 2022September 30, 2021
(Dollars in thousands)
Balance at beginning of period$(171,707)$15,051 $(11,412)$32,753 
Unrealized net losses on securities available for sale(112,043)(16,433)(308,974)(43,050)
Unrealized net losses on securities available for sale transferred to held to maturity— — (36,576)— 
Unrealized net gains on interest rate swaps used for cash flow hedge18,893 120 24,901 1,643 
Reclassification adjustments for net losses realized in net income
662 88 688 227 
Tax effect27,660 4,717 94,838 11,970 
Other comprehensive loss, net of tax(64,828)(11,508)(225,123)(29,210)
Balance at end of period$(236,535)$3,543 $(236,535)$3,543 

Reclassifications for net losses realized in net income for the three and nine months ended September 30, 2022 and 2021 relate to net gains on interest rate swaps used for cash flow hedges and amortization on unrealized loss from transferred investment securities to HTM. Gains and losses on interest rate swaps are recorded in noninterest income under other income and fees in the Consolidated Statements of Income. The unrealized holding loss at the date of transfer on securities held to maturity will continue to be reported, net of taxes, in accumulated other comprehensive income (“AOCI”) as a component of stockholders’ equity, and amortized over the remaining life of the securities as an adjustment of yield, offsetting the impact on yield of the corresponding discount amortization.

For the three and nine months ended September 30, 2022, the Company recorded reclassification adjustments of $511 thousand and $561 thousand, respectively, from other comprehensive income to gains from cash flow hedge relationships. For the three and nine months ended September 30, 2021, the Company recorded reclassification adjustments of $88 thousand and $227 thousand, respectively, from other comprehensive income to losses from cash flow hedge relationships.
For the three and nine months ended September 30, 2022, the Company recorded reclassification adjustments of $1.2 million and $1.2 million, respectively, from other comprehensive losses to interest expense to amortize transferred unrealized losses to investment securities HTM, compared to zero for the same periods in 2021.