XML 49 R39.htm IDEA: XBRL DOCUMENT
v3.22.2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Schedule of components of other comprehensive income (loss) | The following tables present the components of other comprehensive loss for the three and six months ended June 30, 2022 and 2021, by component:
(dollars in thousands) | Before Tax |  | Tax Effect |  | Net of Tax
Three Months Ended June 30, 2022 |  |  |  |  |
Net change in fair value of available-for-sale investment securities: |  |  |  |  |
Net unrealized losses arising during the period | $ | (61,628) |  |  | $ | (16,478) |  |  | $ | (45,150) |
Less: Amortization of unrealized losses on investment securities transferred to held-to-maturity | 1,976 |  |  | 528 |  |  | 1,448 |
Net change in fair value of available-for-sale investment securities | (59,652) |  |  | (15,950) |  |  | (43,702) |
Net change in fair value of derivatives: |  |  |  |  |
Net unrealized gains arising during the period | 2,930 |  |  | 783 |  |  | 2,147 |
Net change in fair value of derivatives | 2,930 |  |  | 783 |  |  | 2,147 |
Defined benefit retirement plan and SERPs: |  |  |  |  |
Net actuarial losses arising during the period | (952) |  |  | (255) |  |  | (697) |
Amortization of net actuarial loss | 131 |  |  | 35 |  |  | 96 |
Amortization of net transition obligation | 5 |  |  | 1 |  |  | 4 |
Settlement | 4,884 |  |  | 1,817 |  |  | 3,067 |
Defined benefit retirement plan and SERPs | 4,068 |  |  | 1,598 |  |  | 2,470 |
Other comprehensive loss | $ | (52,654) |  |  | $ | (13,569) |  |  | $ | (39,085) |
(dollars in thousands) | Before Tax |  | Tax Effect |  | Net of Tax
Three Months Ended June 30, 2021 |  |  |  |  |
Net change in fair value of available-for-sale investment securities: |  |  |  |  |
Net unrealized gains arising during the period | $ | 2,407 |  |  | $ | 643 |  |  | $ | 1,764 |
Less: Reclassification adjustments from AOCI realized in net income | (50) |  |  | (13) |  |  | (37) |
Net change in fair value of available-for-sale investment securities | 2,357 |  |  | 630 |  |  | 1,727 |
Defined benefit retirement plan and SERPs: |  |  |  |  |
Amortization of net actuarial loss | 272 |  |  | 87 |  |  | 185 |
Amortization of net transition obligation | 4 |  |  | 1 |  |  | 3 |
Defined benefit retirement plan and SERPs | 276 |  |  | 88 |  |  | 188 |
Other comprehensive income | $ | 2,633 |  |  | $ | 718 |  |  | $ | 1,915 |
(dollars in thousands) | Before Tax |  | Tax Effect |  | Net of Tax
Six Months Ended June 30, 2022 |  |  |  |  |
Net change in fair value of available-for-sale investment securities: |  |  |  |  |
Net unrealized losses arising during the period | $ | (170,076) |  |  | $ | (45,476) |  |  | $ | (124,600) |
Less: Amortization of unrealized losses on investment securities transferred to held-to-maturity | 1,976 |  |  | 528 |  |  | 1,448 |
Net change in fair value of available-for-sale investment securities | (168,100) |  |  | (44,948) |  |  | (123,152) |
Net change in fair value of derivatives: |  |  |  |  |
Net unrealized gains arising during the period | 2,880 |  |  | 770 |  |  | 2,110 |
Net change in fair value of derivatives | 2,880 |  |  | 770 |  |  | 2,110 |
Defined benefit retirement plan and SERPs: |  |  |  |  |
Net actuarial losses arising during the period | (952) |  |  | (255) |  |  | (697) |
Amortization of net actuarial loss | 264 |  |  | 71 |  |  | 193 |
Amortization of net transition obligation | 9 |  |  | 2 |  |  | 7 |
Settlement | 4,884 |  |  | 1,817 |  |  | 3,067 |
Defined benefit retirement plan and SERPs | 4,205 |  |  | 1,635 |  |  | 2,570 |
Other comprehensive loss | $ | (161,015) |  |  | $ | (42,543) |  |  | $ | (118,472) |
(dollars in thousands) | Before Tax |  | Tax Effect |  | Net of Tax
Six Months Ended June 30, 2021 |  |  |  |  |
Net change in fair value of available-for-sale investment securities: |  |  |  |  |
Net unrealized losses arising during the period | $ | (21,212) |  |  | $ | (5,675) |  |  | $ | (15,537) |
Less: Reclassification adjustments from AOCI realized in net income | (50) |  |  | (13) |  |  | (37) |
Net change in fair value of available-for-sale investment securities | (21,262) |  |  | (5,688) |  |  | (15,574) |
Defined benefit retirement plan and SERPs: |  |  |  |  |
Amortization of net actuarial loss | 518 |  |  | 153 |  |  | 365 |
Amortization of net transition obligation | 9 |  |  | 2 |  |  | 7 |
Defined benefit retirement plan and SERPs | 527 |  |  | 155 |  |  | 372 |
Other comprehensive loss | $ | (20,735) |  |  | $ | (5,533) |  |  | $ | (15,202) |
Schedule of changes in each component of AOCI, net of tax | The following tables present the changes in each component of AOCI, net of tax, for the three and six months ended June 30, 2022 and 2021:
(dollars in thousands) | Investment Securities |  | Derivatives |  | Defined Benefit Retirement Plan and SERPs [1] |  | AOCI
Three Months Ended June 30, 2022 |  |  |  |  |  |  |
Balance at beginning of period | $ | (83,116) |  |  | $ | (37) |  |  | $ | (4,194) |  |  | $ | (87,347) |
Other comprehensive (loss) income before reclassifications | (45,150) |  |  | 2,147 |  |  | (697) |  |  | (43,700) |
Reclassification adjustments from AOCI | 1,448 |  |  | — |  |  | 3,167 |  |  | 4,615 |
Total other comprehensive (loss) income | (43,702) |  |  | 2,147 |  |  | 2,470 |  |  | (39,085) |
Balance at end of period | $ | (126,818) |  |  | $ | 2,110 |  |  | $ | (1,724) |  |  | $ | (126,432) |
(dollars in thousands) | Investment Securities |  | Derivatives |  | Defined Benefit Retirement Plan and SERPs [1] |  | AOCI
Three Months Ended June 30, 2021 |  |  |  |  |  |  |
Balance at beginning of period | $ | 9,350 |  |  | $ | — |  |  | $ | (6,339) |  |  | $ | 3,011 |
Other comprehensive income before reclassifications | 1,764 |  |  | — |  |  | — |  |  | 1,764 |
Reclassification adjustments from AOCI | (37) |  |  | — |  |  | 188 |  |  | 151 |
Total other comprehensive income | 1,727 |  |  | — |  |  | 188 |  |  | 1,915 |
Balance at end of period | $ | 11,077 |  |  | $ | — |  |  | $ | (6,151) |  |  | $ | 4,926 |
(dollars in thousands) | Investment Securities |  | Derivatives |  | Defined Benefit Retirement Plan and SERPs [1] |  | AOCI
Six Months Ended June 30, 2022 |  |  |  |  |  |  |
Balance at beginning of period | $ | (3,666) |  |  | $ | — |  |  | $ | (4,294) |  |  | $ | (7,960) |
Other comprehensive (loss) income before reclassifications | (124,600) |  |  | 2,110 |  |  | (697) |  |  | (123,187) |
Reclassification adjustments from AOCI | 1,448 |  |  | — |  |  | 3,267 |  |  | 4,715 |
Total other comprehensive (loss) income | (123,152) |  |  | 2,110 |  |  | 2,570 |  |  | (118,472) |
Balance at end of period | $ | (126,818) |  |  | $ | 2,110 |  |  | $ | (1,724) |  |  | $ | (126,432) |
(dollars in thousands) | Investment Securities |  | Derivatives |  | Defined Benefit Retirement Plan and SERPs [1] |  | AOCI
Six Months Ended June 30, 2021 |  |  |  |  |  |  |
Balance at beginning of period | $ | 26,651 |  |  | $ | — |  |  | $ | (6,523) |  |  | $ | 20,128 |
Other comprehensive loss before reclassifications | (15,537) |  |  | — |  |  | — |  |  | (15,537) |
Reclassification adjustments from AOCI | (37) |  |  | — |  |  | 372 |  |  | 335 |
Total other comprehensive (loss) income | (15,574) |  |  | — |  |  | 372 |  |  | (15,202) |
Balance at end of period | $ | 11,077 |  |  | $ | — |  |  | $ | (6,151) |  |  | $ | 4,926 |
[1] During the second quarter of 2022, the Company settled all obligations related to its defined benefit retirement plan. As a result, the AOCI balance in the defined benefit retirement plan and SERPs column as of June 30, 2022 relates entirely to the SERPs.
Schedule of amounts reclassified out of each component of AOCI | The following table presents the amounts reclassified out of each component of AOCI for the three and six months ended June 30, 2022 and 2021:
| Amount Reclassified from AOCI |  | Affected Line Item in the Statement Where Net Income is Presented
Details about AOCI Components | Three months ended June 30, |
(dollars in thousands) | 2022 |  | 2021 |
Sale of available-for-sale investment securities: |  |  |  |  |
Realized gain on sales of available-for-sale investment securities | $ | — |  |  | $ | 50 |  |  | Net gain on sales of investment securities
Tax effect | — |  |  | (13) |  |  | Income tax benefit (expense)
Net of tax | $ | — |  |  | $ | 37 |  |  |
Amortization of unrealized losses on investment securities transferred to held-to-maturity: |  |  |  |  |
Amortization | $ | (1,976) |  |  | $ | — |  |  |
Tax effect | 528 |  |  | — |  |  |
Net of tax | $ | (1,448) |  |  | $ | — |  |  |
Defined benefit retirement and supplemental executive retirement plan items: |  |  |  |  |
Amortization of net actuarial loss | $ | (131) |  |  | $ | (272) |  |  | Other operating expense - other
Amortization of net transition obligation | (5) |  |  | (4) |  |  | Other operating expense - other
Amortization of prior service cost | — |  |  | — |  |  | Other operating expense - other
Settlement | (4,884) |  |  | — |  |  | Other operating expense - other
Total before tax | (5,020) |  |  | (276) |  |  |
Tax effect | 1,853 |  |  | 88 |  |  | Income tax benefit (expense)
Net of tax | $ | (3,167) |  |  | $ | (188) |  |  |
Total reclassification adjustments from AOCI for the period, net of tax | $ | (4,615) |  |  | $ | (151) |  |  |
| Amount Reclassified from AOCI |  | Affected Line Item in the Statement Where Net Income is Presented
Details about AOCI Components | Six months ended June 30, |
(dollars in thousands) | 2022 |  | 2021 |
Sale of available-for-sale investment securities: |  |  |  |  |
Realized gain on sales of available-for-sale investment securities | $ | — |  |  | $ | 50 |  |  | Net gain on sales of investment securities
Tax effect | — |  |  | (13) |  |  | Income tax benefit (expense)
Net of tax | $ | — |  |  | $ | 37 |  |  |
Amortization of unrealized losses on investment securities transferred to held-to-maturity: |  |  |  |  |
Amortization | $ | (1,976) |  |  | $ | — |  |  |
Tax effect | 528 |  |  | — |  |  |
Net of tax | $ | (1,448) |  |  | $ | — |  |  |
Defined benefit retirement and supplemental executive retirement plan items: |  |  |  |  |
Amortization of net actuarial loss | $ | (264) |  |  | $ | (518) |  |  | Other operating expense - other
Amortization of net transition obligation | (9) |  |  | (9) |  |  | Other operating expense - other
Amortization of prior service cost | — |  |  | — |  |  | Other operating expense - other
Settlement | (4,884) |  |  | — |  |  | Other operating expense - other
Total before tax | (5,157) |  |  | (527) |  |  |
Tax effect | 1,890 |  |  | 155 |  |  | Income tax benefit (expense)
Net of tax | $ | (3,267) |  |  | $ | (372) |  |  |
Total reclassification adjustments from AOCI for the period, net of tax | $ | (4,715) |  |  | $ | (335) |  |  |

X
- References No definition available. + Details
Name: | us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669686-108580 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 45 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124509347&loc=d3e526-108580 + Details
Name: | us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration