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DERIVATIVE INSTRUMENTS (Tables) | 9 Months Ended
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Sep. 30, 2023
DERIVATIVE INSTRUMENTS [Abstract] |
Impacts of Derivative Instruments on Consolidated Statements of Comprehensive Income | The impact of the Company’s derivative instruments on the accompanying Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2023 are presented in the table below:
|  | For the Three Months Ended |  |  | For the Nine Months Ended |
|  | September 30, 2023 |  |  | September 30, 2022 |  |  | September 30, 2023 |  |  | September 30, 2022 |
|  | (In thousands) |
Net income |  | $ | 12,222 |  |  | $ | 12,821 |  |  | $ | 38,513 |  |  | $ | 40,059 |
Other comprehensive loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized gain on cash flow hedge |  |  | 1,276 |  |  |  | 6,473 |  |  |  | 2,340 |  |  |  | 5,942 |
Tax effect at statutory rate (federal and state) |  |  | (326 | ) |  |  | (1,654 | ) |  |  | (598 | ) |  |  | (1,518 | )
Comprehensive income |  | $ | 13,172 |  |  | $ | 17,640 |  |  | $ | 40,255 |  |  | $ | 44,483 |

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- Definition Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C + Details
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