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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, 2024 |  |  |  |  |  |
Net change in fair value of investment securities: |  |  |  |  |  |
Net unrealized gains on AFS investment securities arising during the period |  | $ | 370 |  |  | $ | 96 |  |  | $ | 274 |
Amortization of unrealized losses on investment securities transferred to HTM |  | 1,867 |  |  | 493 |  |  | 1,374 |
Net change in fair value of investment securities |  | 2,237 |  |  | 589 |  |  | 1,648 |
Net change in fair value of derivatives: |  |  |  |  |  |
Net unrealized losses arising during the period |  | (22) |  |  | (6) |  |  | (16) |
Net change in fair value of derivatives |  | (22) |  |  | (6) |  |  | (16) |
Other comprehensive income |  | $ | 2,215 |  |  | $ | 583 |  |  | $ | 1,632 |
(dollars in thousands) |  | Before Tax |  | Tax Effect |  | Net of Tax
Three Months Ended June 30, 2023 |  |  |  |  |  |
Net change in fair value of investment securities: |  |  |  |  |  |
Net unrealized losses on AFS investment securities arising during the period |  | $ | (8,204) |  |  | $ | (2,179) |  |  | $ | (6,025) |
Amortization of unrealized losses on investment securities transferred to HTM |  | 1,976 |  |  | 525 |  |  | 1,451 |
Net change in fair value of investment securities |  | (6,228) |  |  | (1,654) |  |  | (4,574) |
Net change in fair value of derivatives: |  |  |  |  |  |
Net unrealized gains arising during the period |  | 2,777 |  |  | 737 |  |  | 2,040 |
Net change in fair value of derivatives |  | 2,777 |  |  | 737 |  |  | 2,040 |
SERP: |  |  |  |  |  |
Amortization of net actuarial gain |  | (20) |  |  | (5) |  |  | (15) |
Amortization of net transition obligation |  | 2 |  |  | — |  |  | 2 |
SERP |  | (18) |  |  | (5) |  |  | (13) |
Other comprehensive loss |  | $ | (3,469) |  |  | $ | (922) |  |  | $ | (2,547) |
(dollars in thousands) |  | Before Tax |  | Tax Effect |  | Net of Tax
Six Months Ended June 30, 2024 |  |  |  |  |  |
Net change in fair value of investment securities: |  |  |  |  |  |
Net unrealized losses on AFS investment securities arising during the period |  | $ | (6,665) |  |  | $ | (1,759) |  |  | $ | (4,906) |
Amortization of unrealized losses on investment securities transferred to HTM |  | 3,505 |  |  | 925 |  |  | 2,580 |
Net change in fair value of investment securities |  | (3,160) |  |  | (834) |  |  | (2,326) |
Net change in fair value of derivatives: |  |  |  |  |  |
Net unrealized gains arising during the period |  | 3,031 |  |  | 800 |  |  | 2,231 |
Net change in fair value of derivatives |  | 3,031 |  |  | 800 |  |  | 2,231 |
Other comprehensive loss |  | $ | (129) |  |  | $ | (34) |  |  | $ | (95) |
(dollars in thousands) |  | Before Tax |  | Tax Effect |  | Net of Tax
Six Months Ended June 30, 2023 |  |  |  |  |  |
Net change in fair value of investment securities: |  |  |  |  |  |
Net unrealized gains on AFS investment securities arising during the period |  | $ | 7,054 |  |  | $ | 1,873 |  |  | $ | 5,181 |
Amortization of unrealized losses on investment securities transferred to HTM |  | 3,644 |  |  | 968 |  |  | 2,676 |
Net change in fair value of investment securities |  | 10,698 |  |  | 2,841 |  |  | 7,857 |
Net change in fair value of derivatives: |  |  |  |  |  |
Net unrealized gains arising during the period |  | $ | 1,178 |  |  | $ | 301 |  |  | $ | 877 |
Net change in fair value of derivatives |  | 1,178 |  |  | 301 |  |  | 877 |
SERP: |  |  |  |  |  |
Amortization of net actuarial gain |  | (39) |  |  | (10) |  |  | (29) |
Amortization of net transition obligation |  | 4 |  |  | — |  |  | 4 |
SERP |  | (35) |  |  | (10) |  |  | (25) |
Other comprehensive income |  | $ | 11,841 |  |  | $ | 3,132 |  |  | $ | 8,709 |
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 June 30, 2024 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (131,896) |  |  | $ | 7,276 |  |  | $ | 297 |  |  | $ | (124,323) |
Other comprehensive income (loss) before reclassifications |  | 274 |  |  | (16) |  |  | — |  |  | 258 |
Reclassification adjustments from AOCI |  | 1,374 |  |  | — |  |  | — |  |  | 1,374 |
Total other comprehensive income (loss) |  | 1,648 |  |  | (16) |  |  | — |  |  | 1,632 |
Balance at end of period |  | $ | (130,248) |  |  | $ | 7,260 |  |  | $ | 297 |  |  | $ | (122,691) |
(dollars in thousands) |  | Investment Securities |  | Derivatives |  | SERP |  | AOCI
Three Months Ended June 30, 2023 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (136,678) |  |  | $ | 3,482 |  |  | $ | 468 |  |  | $ | (132,728) |
Other comprehensive income (loss) before reclassifications |  | (6,025) |  |  | 2,040 |  |  | — |  |  | (3,985) |
Reclassification adjustments from AOCI |  | 1,451 |  |  | — |  |  | (13) |  |  | 1,438 |
Total other comprehensive income (loss) |  | (4,574) |  |  | 2,040 |  |  | (13) |  |  | (2,547) |
Balance at end of period |  | $ | (141,252) |  |  | $ | 5,522 |  |  | $ | 455 |  |  | $ | (135,275) |
(dollars in thousands) |  | Investment Securities |  | Derivatives |  | SERP |  | AOCI
Six Months Ended June 30, 2024 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (127,922) |  |  | $ | 5,029 |  |  | $ | 297 |  |  | $ | (122,596) |
Other comprehensive income (loss) before reclassifications |  | (4,906) |  |  | 2,231 |  |  | — |  |  | (2,675) |
Reclassification adjustments from AOCI |  | 2,580 |  |  | — |  |  | — |  |  | 2,580 |
Total other comprehensive income (loss) |  | (2,326) |  |  | 2,231 |  |  | — |  |  | (95) |
Balance at end of period |  | $ | (130,248) |  |  | $ | 7,260 |  |  | $ | 297 |  |  | $ | (122,691) |
(dollars in thousands) |  | Investment Securities |  | Derivatives |  | SERP |  | AOCI
Six Months Ended June 30, 2023 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (149,109) |  |  | $ | 4,645 |  |  | $ | 480 |  |  | $ | (143,984) |
Other comprehensive income (loss) before reclassifications |  | 5,181 |  |  | 877 |  |  | — |  |  | 6,058 |
Reclassification adjustments from AOCI |  | 2,676 |  |  | — |  |  | (25) |  |  | 2,651 |
Total other comprehensive income (loss) |  | 7,857 |  |  | 877 |  |  | (25) |  |  | 8,709 |
Balance at end of period |  | $ | (141,252) |  |  | $ | 5,522 |  |  | $ | 455 |  |  | $ | (135,275) |
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 June 30, |
Details about AOCI Components |  | 2024 |  | 2023 |
Amortization of unrealized losses on investment securities transferred to HTM: |  |  |  |  |  |
Amortization |  | $ | 1,867 |  |  | $ | 1,976 |  |  | Interest and dividends on investment securities
Tax effect |  | (493) |  |  | (525) |  |  | Income tax benefit
Net of tax |  | 1,374 |  |  | 1,451 |  |  |
SERP: |  |  |  |  |  |
Amortization of net actuarial gain |  | — |  |  | (20) |  |  | Other operating expense - other
Amortization of net transition obligation |  | — |  |  | 2 |  |  | Other operating expense - other
Total before tax |  | — |  |  | (18) |  |  |
Tax effect |  | — |  |  | 5 |  |  | Income tax expense
Net of tax |  | — |  |  | (13) |  |  |
Total reclassification adjustments from AOCI for the period, net of tax |  | $ | 1,374 |  |  | $ | 1,438 |  |  |
|  | Amount Reclassified from AOCI |  | Affected Line Item in the Statement Where Net Income is Presented
(dollars in thousands) |  | Six Months Ended June 30, |
Details about AOCI Components |  | 2024 |  | 2023 |
Amortization of unrealized losses on investment securities transferred to HTM: |  |  |  |  |  |
Amortization |  | $ | 3,505 |  |  | $ | 3,644 |  |  | Interest and dividends on investment securities
Tax effect |  | (925) |  |  | (968) |  |  | Income tax benefit
Net of tax |  | 2,580 |  |  | 2,676 |  |  |
SERP: |  |  |  |  |  |
Amortization of net actuarial gain |  | — |  |  | (39) |  |  | Other operating expense - other
Amortization of net transition obligation |  | — |  |  | 4 |  |  | Other operating expense - other
Total before tax |  | — |  |  | (35) |  |  |
Tax effect |  | — |  |  | 10 |  |  | Income tax expense
Net of tax |  | — |  |  | (25) |  |  |
Total reclassification adjustments from AOCI for the period, net of tax |  | $ | 2,580 |  |  | $ | 2,651 |  |  |

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