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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 3 Months Ended
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Mar. 31, 2024
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 income (loss) for the periods presented:
(dollars in thousands) |  | Before Tax |  | Tax Effect |  | Net of Tax
Three Months Ended March 31, 2024 |  |  |  |  |  |
Net change in fair value of investment securities: |  |  |  |  |  |
Net unrealized losses on AFS investment securities arising during the period |  | $ | (7,035) |  |  | $ | (1,855) |  |  | $ | (5,180) |
Less: Amortization of unrealized losses on investment securities transferred to HTM |  | 1,638 |  |  | 432 |  |  | 1,206 |
Net change in fair value of investment securities |  | (5,397) |  |  | (1,423) |  |  | (3,974) |
Net change in fair value of derivatives: |  |  |  |  |  |
Net unrealized gains arising during the period |  | 3,053 |  |  | 806 |  |  | 2,247 |
Net change in fair value of derivatives |  | 3,053 |  |  | 806 |  |  | 2,247 |
Other comprehensive loss |  | $ | (2,344) |  |  | $ | (617) |  |  | $ | (1,727) |
(dollars in thousands) |  | Before Tax |  | Tax Effect |  | Net of Tax
Three Months Ended March 31, 2023 |  |  |  |  |  |
Net change in fair value of investment securities: |  |  |  |  |  |
Net unrealized gains on AFS investment securities arising during the period |  | $ | 15,258 |  |  | $ | 4,052 |  |  | $ | 11,206 |
Less: Amortization of unrealized losses on investment securities transferred to HTM |  | 1,668 |  |  | 443 |  |  | 1,225 |
Net change in fair value of investment securities |  | 16,926 |  |  | 4,495 |  |  | 12,431 |
Net change in fair value of derivatives: |  |  |  |  |  |
Net unrealized losses arising during the period |  | (1,599) |  |  | (436) |  |  | (1,163) |
Net change in fair value of derivatives |  | (1,599) |  |  | (436) |  |  | (1,163) |
SERP: |  |  |  |  |  |
Amortization of net actuarial gain |  | (19) |  |  | (5) |  |  | (14) |
Amortization of net transition obligation |  | 2 |  |  | — |  |  | 2 |
SERP |  | (17) |  |  | (5) |  |  | (12) |
Other comprehensive income |  | $ | 15,310 |  |  | $ | 4,054 |  |  | $ | 11,256 |
Schedule of changes in each component of AOCI, net of tax | The following tables present the changes in each component of accumulated other comprehensive income (loss), net of tax, for the periods presented:
(dollars in thousands) |  | Investment Securities |  | Derivatives |  | SERP |  | AOCI
Three Months Ended March 31, 2024 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (127,922) |  |  | $ | 5,029 |  |  | $ | 297 |  |  | $ | (122,596) |
Other comprehensive income (loss) before reclassifications |  | (5,180) |  |  | 2,247 |  |  | — |  |  | (2,933) |
Reclassification adjustments from AOCI |  | 1,206 |  |  | — |  |  | — |  |  | 1,206 |
Total other comprehensive income (loss) |  | (3,974) |  |  | 2,247 |  |  | — |  |  | (1,727) |
Balance at end of period |  | $ | (131,896) |  |  | $ | 7,276 |  |  | $ | 297 |  |  | $ | (124,323) |
(dollars in thousands) |  | Investment Securities |  | Derivatives |  | SERP |  | AOCI
Three Months Ended March 31, 2023 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (149,109) |  |  | $ | 4,645 |  |  | $ | 480 |  |  | $ | (143,984) |
Other comprehensive income (loss) before reclassifications |  | 11,206 |  |  | (1,163) |  |  | — |  |  | 10,043 |
Reclassification adjustments from AOCI |  | 1,225 |  |  | — |  |  | (12) |  |  | 1,213 |
Total other comprehensive income (loss) |  | 12,431 |  |  | (1,163) |  |  | (12) |  |  | 11,256 |
Balance at end of period |  | $ | (136,678) |  |  | $ | 3,482 |  |  | $ | 468 |  |  | $ | (132,728) |
Schedule of amounts reclassified out of each component of AOCI | The following tables present the amounts reclassified out of each component of AOCI for the periods presented:
|  | Amount Reclassified from AOCI |  | Affected Line Item in the Statement Where Net Income is Presented
(dollars in thousands) |  | Three Months Ended March 31, |
Details about AOCI Components |  | 2024 |  | 2023 |
Amortization of unrealized losses on investment securities transferred to HTM: |  |  |  |  |  |
Amortization |  | $ | (1,638) |  |  | $ | (1,668) |  |  | Interest and dividends on investment securities
Tax effect |  | 432 |  |  | 443 |  |  | Income tax benefit
Net of tax |  | (1,206) |  |  | (1,225) |  |  |
SERP: |  |  |  |  |  |
Amortization of net actuarial gain |  | — |  |  | 19 |  |  | Other operating expense - other
Amortization of net transition obligation |  | — |  |  | (2) |  |  | Other operating expense - other
Total before tax |  | — |  |  | 17 |  |  |
Tax effect |  | — |  |  | (5) |  |  | Income tax expense
Net of tax |  | — |  |  | 12 |  |  |
Total reclassification adjustments from AOCI for the period, net of tax |  | $ | (1,206) |  |  | $ | (1,213) |  |  |

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- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481694/830-30-45-20 + Details
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- 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 -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 1 -Section 45 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1 + Details
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