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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 12 Months Ended
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Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Schedule of components of other comprehensive income (loss) | The following table presents the components of other comprehensive income (loss) for the years ended December 31, 2023, 2022 and 2021, by component:
(Dollars in thousands) | Before Tax |  | Tax Effect |  | Net of Tax
Year ended December 31, 2023 |  |  |  |  |
Net change in fair value of investment securities: |  |  |  |  |
Net unrealized gains on investment securities arising during the period | $ | 19,762 |  |  | $ | 5,437 |  |  | $ | 14,325 |
Less: Reclassification adjustment for losses realized in net income | 2,074 |  |  | 547 |  |  | 1,527 |
Less: Amortization of unrealized losses on investment securities transferred to HTM | 7,440 |  |  | 2,105 |  |  | 5,335 |
Net change in fair value of investment securities | 29,276 |  |  | 8,089 |  |  | 21,187 |
Net change in fair value of derivative: |  |  |  |  |
Net unrealized gains arising during the period | 491 |  |  | 107 |  |  | 384 |
Net change in fair value of derivative | 491 |  |  | 107 |  |  | 384 |
SERPs: |  |  |  |  |
Net actuarial losses arising during the period | (182) |  |  | (48) |  |  | (134) |
Amortization of net actuarial gains | (74) |  |  | (20) |  |  | (54) |
Amortization of net transition obligation | 7 |  |  | 2 |  |  | 5 |
SERPs | (249) |  |  | (66) |  |  | (183) |
Other comprehensive income | $ | 29,518 |  |  | $ | 8,130 |  |  | $ | 21,388 |
(Dollars in thousands) | Before Tax |  | Tax Effect |  | Net of Tax
Year ended December 31, 2022 |  |  |  |  |
Net change in fair value of investment securities: |  |  |  |  |
Net unrealized losses on investment securities arising during the period | $ | (204,250) |  |  | $ | (54,109) |  |  | $ | (150,141) |
Less: Amortization of unrealized losses on investment securities transferred to HTM | 6,218 |  |  | 1,520 |  |  | 4,698 |
Net change in fair value of investment securities | (198,032) |  |  | (52,589) |  |  | (145,443) |
Net change in fair value of derivative: |  |  |  |  |
Net unrealized gains arising during the period | 6,326 |  |  | 1,681 |  |  | 4,645 |
Net change in fair value of derivative | 6,326 |  |  | 1,681 |  |  | 4,645 |
Defined benefit retirement plan and SERPs: |  |  |  |  |
Net actuarial gains arising during the period | 2,007 |  |  | 537 |  |  | 1,470 |
Amortization of net actuarial losses | 304 |  |  | 81 |  |  | 223 |
Amortization of net transition obligation | 18 |  |  | 4 |  |  | 14 |
Settlement | 4,884 |  |  | 1,817 |  |  | 3,067 |
Defined benefit retirement plan and SERPs | 7,213 |  |  | 2,439 |  |  | 4,774 |
Other comprehensive loss | $ | (184,493) |  |  | $ | (48,469) |  |  | $ | (136,024) |
(Dollars in thousands) | Before Tax |  | Tax Effect |  | Net of Tax
Year ended December 31, 2021 |  |  |  |  |
Net change in fair value of investment securities: |  |  |  |  |
Net unrealized losses on investment securities arising during the period | $ | (41,237) |  |  | $ | (11,030) |  |  | $ | (30,207) |
Less: Reclassification adjustment for gains realized in net income | (150) |  |  | (40) |  |  | (110) |
Net change in fair value of investment securities | (41,387) |  |  | (11,070) |  |  | (30,317) |
Defined benefit retirement plan and SERPs: |  |  |  |  |
Net actuarial gains arising during the period | 2,014 |  |  | 544 |  |  | 1,470 |
Amortization of net actuarial losses | 1,036 |  |  | 291 |  |  | 745 |
Amortization of net transition obligation | 18 |  |  | 4 |  |  | 14 |
Defined benefit retirement plan and SERPs | 3,068 |  |  | 839 |  |  | 2,229 |
Other comprehensive loss | $ | (38,319) |  |  | $ | (10,231) |  |  | $ | (28,088) |
Schedule of changes in each component of AOCI, net of tax | The following table presents the changes in each component of AOCI, net of tax, for the years ended December 31, 2023, 2022 and 2021:
(Dollars in thousands) | Investment Securities |  | Derivatives |  | Defined Benefit Plans |  | AOCI
Year ended December 31, 2023 |  |  |  |  |  |  |
Balance at beginning of period | $ | (149,109) |  |  | $ | 4,645 |  |  | $ | 480 |  |  | $ | (143,984) |
Other comprehensive income (loss) before reclassifications | 14,325 |  |  | 384 |  |  | (134) |  |  | 14,575 |
Amounts reclassified from AOCI | 6,862 |  |  | — |  |  | (49) |  |  | 6,813 |
Net other comprehensive income (loss) | 21,187 |  |  | 384 |  |  | (183) |  |  | 21,388 |
Balance at end of period | $ | (127,922) |  |  | $ | 5,029 |  |  | $ | 297 |  |  | $ | (122,596) |
(Dollars in thousands) | Investment Securities |  | Derivatives |  | Defined Benefit Plans |  | AOCI
Year ended December 31, 2022 |  |  |  |  |  |  |
Balance at beginning of period | $ | (3,666) |  |  | $ | — |  |  | $ | (4,294) |  |  | $ | (7,960) |
Other comprehensive (loss) income before reclassifications | (150,141) |  |  | 4,645 |  |  | 1,470 |  |  | (144,026) |
Amounts reclassified from AOCI | 4,698 |  |  | — |  |  | 3,304 |  |  | 8,002 |
Net other comprehensive (loss) income | (145,443) |  |  | 4,645 |  |  | 4,774 |  |  | (136,024) |
Balance at end of period | $ | (149,109) |  |  | $ | 4,645 |  |  | $ | 480 |  |  | $ | (143,984) |
(Dollars in thousands) | Investment Securities |  |  |  | Defined Benefit Plans |  | AOCI
Year ended December 31, 2021 |  |  |  |  |  |  |
Balance at beginning of period | $ | 26,651 |  |  |  |  | $ | (6,523) |  |  | $ | 20,128 |
Other comprehensive (loss) income before reclassifications | (30,207) |  |  |  |  | 1,470 |  |  | (28,737) |
Amounts reclassified from AOCI | (110) |  |  |  |  | 759 |  |  | 649 |
Net other comprehensive (loss) income | (30,317) |  |  |  |  | 2,229 |  |  | (28,088) |
Balance at end of period | $ | (3,666) |  |  |  |  | $ | (4,294) |  |  | $ | (7,960) |
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 years ended December 31, 2023, 2022 and 2021:
| Amount Reclassified from AOCI |  | Affected Line Item in the
| Year ended December 31, |  | Statement Where Net
Details about AOCI Components | 2023 |  | 2022 |  | 2021 |  | Income is Presented
| (Dollars in thousands) |  |
Sale of available-for-sale investment securities: |  |  |  |  |  |  |
Realized (losses) gains on available-for-sale investment securities | $ | (2,074) |  |  | $ | — |  |  | $ | 150 |  |  | Net gains (losses) on sales of investment securities
Tax effect | 547 |  |  | — |  |  | (40) |  |  | Income tax benefit (expense)
Net of tax | $ | (1,527) |  |  | $ | — |  |  | $ | 110 |  |  |
Amortization of unrealized losses on investment securities transferred to HTM | $ | (7,440) |  |  | $ | (6,218) |  |  | $ | — |  |  | Interest and dividends on investment securities
Tax effect | 2,105 |  |  | 1,520 |  |  | — |  |  | Income tax benefit
Net of tax | $ | (5,335) |  |  | $ | (4,698) |  |  | $ | — |  |  |
Defined benefit plan items: |  |  |  |  |  |  |
Amortization of net actuarial gains (losses) | $ | 74 |  |  | $ | (304) |  |  | $ | (1,036) |  |  | Other operating expense - other (1)
Amortization of net transition obligation | (7) |  |  | (18) |  |  | (18) |  |  | Other operating expense - other (1)
Settlement | — |  |  | (4,884) |  |  | — |  |  | Other operating expense - other (1)
Total before tax | 67 |  |  | (5,206) |  |  | (1,054) |  |  |
Tax effect | (18) |  |  | 1,902 |  |  | 295 |  |  | Income tax (expense) benefit
Net of tax | $ | 49 |  |  | $ | (3,304) |  |  | $ | (759) |  |  |
Total reclassifications, net of tax | $ | (6,813) |  |  | $ | (8,002) |  |  | $ | (649) |  |  |

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