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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 9 Months Ended
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Sep. 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 September 30, 2024 |  |  |  |  |  |
Net change in fair value of investment securities: |  |  |  |  |  |
Net unrealized gains on AFS investment securities arising during the period |  | $ | 27,092 |  |  | $ | 7,150 |  |  | $ | 19,942 |
Amortization of unrealized losses on investment securities transferred to HTM |  | 1,920 |  |  | 507 |  |  | 1,413 |
Net change in fair value of investment securities |  | 29,012 |  |  | 7,657 |  |  | 21,355 |
Net change in fair value of derivatives: |  |  |  |  |  |
Net unrealized losses arising during the period |  | (4,317) |  |  | (1,140) |  |  | (3,177) |
Net change in fair value of derivatives |  | (4,317) |  |  | (1,140) |  |  | (3,177) |
SERP: |  |  |  |  |  |
Amortization of net actuarial gain |  | (2) |  |  | (1) |  |  | (1) |
SERP |  | (2) |  |  | (1) |  |  | (1) |
Other comprehensive income |  | $ | 24,693 |  |  | $ | 6,516 |  |  | $ | 18,177 |
(dollars in thousands) |  | Before Tax |  | Tax Effect |  | Net of Tax
Three Months Ended September 30, 2023 |  |  |  |  |  |
Net change in fair value of investment securities: |  |  |  |  |  |
Net unrealized losses on AFS investment securities arising during the period |  | $ | (24,729) |  |  | $ | (6,569) |  |  | $ | (18,160) |
Reclassification adjustments from AOCI realized in net income |  | 135 |  |  | 36 |  |  | 99 |
Amortization of unrealized losses on investment securities transferred to HTM |  | 2,026 |  |  | 538 |  |  | 1,488 |
Net change in fair value of investment securities |  | (22,568) |  |  | (5,995) |  |  | (16,573) |
Net change in fair value of derivatives: |  |  |  |  |  |
Net unrealized gains arising during the period |  | 3,151 |  |  | 838 |  |  | 2,313 |
Net change in fair value of derivatives |  | 3,151 |  |  | 838 |  |  | 2,313 |
SERP: |  |  |  |  |  |
Amortization of net actuarial gain |  | (19) |  |  | (7) |  |  | (12) |
Amortization of net transition obligation |  | 2 |  |  | 2 |  |  | — |
SERP |  | (17) |  |  | (5) |  |  | (12) |
Other comprehensive loss |  | $ | (19,434) |  |  | $ | (5,162) |  |  | $ | (14,272) |
(dollars in thousands) |  | Before Tax |  | Tax Effect |  | Net of Tax
Nine Months Ended September 30, 2024 |  |  |  |  |  |
Net change in fair value of investment securities: |  |  |  |  |  |
Net unrealized gains on AFS investment securities arising during the period |  | $ | 20,427 |  |  | $ | 5,391 |  |  | $ | 15,036 |
Amortization of unrealized losses on investment securities transferred to HTM |  | 5,425 |  |  | 1,432 |  |  | 3,993 |
Net change in fair value of investment securities |  | 25,852 |  |  | 6,823 |  |  | 19,029 |
Net change in fair value of derivatives: |  |  |  |  |  |
Net unrealized losses arising during the period |  | (1,286) |  |  | (340) |  |  | (946) |
Net change in fair value of derivatives |  | (1,286) |  |  | (340) |  |  | (946) |
SERP: |  |  |  |  |  |
Amortization of net actuarial gain |  | (2) |  |  | (1) |  |  | (1) |
SERP |  | (2) |  |  | (1) |  |  | (1) |
Other comprehensive income |  | $ | 24,564 |  |  | $ | 6,482 |  |  | $ | 18,082 |
(dollars in thousands) |  | Before Tax |  | Tax Effect |  | Net of Tax
Nine Months Ended September 30, 2023 |  |  |  |  |  |
Net change in fair value of investment securities: |  |  |  |  |  |
Net unrealized losses on AFS investment securities arising during the period |  | $ | (17,675) |  |  | $ | (4,696) |  |  | $ | (12,979) |
Reclassification adjustments from AOCI realized in net income |  | 135 |  |  | 36 |  |  | 99 |
Amortization of unrealized losses on investment securities transferred to HTM |  | 5,670 |  |  | 1,506 |  |  | 4,164 |
Net change in fair value of investment securities |  | (11,870) |  |  | (3,154) |  |  | (8,716) |
Net change in fair value of derivatives: |  |  |  |  |  |
Net unrealized gains arising during the period |  | $ | 4,329 |  |  | $ | 1,139 |  |  | $ | 3,190 |
Net change in fair value of derivatives |  | 4,329 |  |  | 1,139 |  |  | 3,190 |
SERP: |  |  |  |  |  |
Amortization of net actuarial gain |  | (58) |  |  | (17) |  |  | (41) |
Amortization of net transition obligation |  | 6 |  |  | 2 |  |  | 4 |
SERP |  | (52) |  |  | (15) |  |  | (37) |
Other comprehensive loss |  | $ | (7,593) |  |  | $ | (2,030) |  |  | $ | (5,563) |
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 September 30, 2024 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (130,248) |  |  | $ | 7,260 |  |  | $ | 297 |  |  | $ | (122,691) |
Other comprehensive income (loss) before reclassifications |  | 19,942 |  |  | (3,177) |  |  | — |  |  | 16,765 |
Reclassification adjustments from AOCI |  | 1,413 |  |  | — |  |  | (1) |  |  | 1,412 |
Total other comprehensive income (loss) |  | 21,355 |  |  | (3,177) |  |  | (1) |  |  | 18,177 |
Balance at end of period |  | $ | (108,893) |  |  | $ | 4,083 |  |  | $ | 296 |  |  | $ | (104,514) |
(dollars in thousands) |  | Investment Securities |  | Derivatives |  | SERP |  | AOCI
Three Months Ended September 30, 2023 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (141,252) |  |  | $ | 5,522 |  |  | $ | 455 |  |  | $ | (135,275) |
Other comprehensive income (loss) before reclassifications |  | (18,160) |  |  | 2,313 |  |  | — |  |  | (15,847) |
Reclassification adjustments from AOCI |  | 1,587 |  |  | — |  |  | (12) |  |  | 1,575 |
Total other comprehensive income (loss) |  | (16,573) |  |  | 2,313 |  |  | (12) |  |  | (14,272) |
Balance at end of period |  | $ | (157,825) |  |  | $ | 7,835 |  |  | $ | 443 |  |  | $ | (149,547) |
(dollars in thousands) |  | Investment Securities |  | Derivatives |  | SERP |  | AOCI
Nine Months Ended September 30, 2024 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (127,922) |  |  | $ | 5,029 |  |  | $ | 297 |  |  | $ | (122,596) |
Other comprehensive income (loss) before reclassifications |  | 15,036 |  |  | (946) |  |  | — |  |  | 14,090 |
Reclassification adjustments from AOCI |  | 3,993 |  |  | — |  |  | (1) |  |  | 3,992 |
Total other comprehensive income (loss) |  | 19,029 |  |  | (946) |  |  | (1) |  |  | 18,082 |
Balance at end of period |  | $ | (108,893) |  |  | $ | 4,083 |  |  | $ | 296 |  |  | $ | (104,514) |
(dollars in thousands) |  | Investment Securities |  | Derivatives |  | SERP |  | AOCI
Nine Months Ended September 30, 2023 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (149,109) |  |  | $ | 4,645 |  |  | $ | 480 |  |  | $ | (143,984) |
Other comprehensive income (loss) before reclassifications |  | (12,979) |  |  | 3,190 |  |  | — |  |  | (9,789) |
Reclassification adjustments from AOCI |  | 4,263 |  |  | — |  |  | (37) |  |  | 4,226 |
Total other comprehensive income (loss) |  | (8,716) |  |  | 3,190 |  |  | (37) |  |  | (5,563) |
Balance at end of period |  | $ | (157,825) |  |  | $ | 7,835 |  |  | $ | 443 |  |  | $ | (149,547) |
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 September 30, |
Details about AOCI Components |  | 2024 |  | 2023 |
Sale of AFS investment securities: |  |  |  |  |  |
Realized loss on sale of AFS investment securities |  | $ | — |  |  | $ | 135 |  |  | Net loss on sale of investment securities
Tax effect |  | — |  |  | (36) |  |  | Income tax benefit
Net of tax |  | — |  |  | 99 |  |  |
Amortization of unrealized losses on investment securities transferred to HTM: |  |  |  |  |  |
Amortization |  | 1,920 |  |  | 2,026 |  |  | Interest and dividends on investment securities
Tax effect |  | (507) |  |  | (538) |  |  | Income tax benefit
Net of tax |  | 1,413 |  |  | 1,488 |  |  |
SERP: |  |  |  |  |  |
Amortization of net actuarial gain |  | (2) |  |  | (19) |  |  | Other operating expense - other
Amortization of net transition obligation |  | — |  |  | 2 |  |  | Other operating expense - other
Total before tax |  | (2) |  |  | (17) |  |  |
Tax effect |  | 1 |  |  | 5 |  |  | Income tax expense
Net of tax |  | (1) |  |  | (12) |  |  |
Total reclassification adjustments from AOCI for the period, net of tax |  | $ | 1,412 |  |  | $ | 1,575 |  |  |
|  | Amount Reclassified from AOCI |  | Affected Line Item in the Statement Where Net Income is Presented
(dollars in thousands) |  | Nine Months Ended September 30, |
Details about AOCI Components |  | 2024 |  | 2023 |
Sale of AFS investment securities: |  |  |  |  |  |
Realized loss on sale of AFS investment securities |  | $ | — |  |  | $ | 135 |  |  | Net loss on sale of investment securities
Tax effect |  | — |  |  | (36) |  |  | Income tax benefit
Net of tax |  | — |  |  | 99 |  |  |
Amortization of unrealized losses on investment securities transferred to HTM: |  |  |  |  |  |
Amortization |  | 5,425 |  |  | 5,670 |  |  | Interest and dividends on investment securities
Tax effect |  | (1,432) |  |  | (1,506) |  |  | Income tax benefit
Net of tax |  | 3,993 |  |  | 4,164 |  |  |
SERP: |  |  |  |  |  |
Amortization of net actuarial gain |  | (2) |  |  | (58) |  |  | Other operating expense - other
Amortization of net transition obligation |  | — |  |  | 6 |  |  | Other operating expense - other
Total before tax |  | (2) |  |  | (52) |  |  |
Tax effect |  | 1 |  |  | 15 |  |  | Income tax expense
Net of tax |  | (1) |  |  | (37) |  |  |
Total reclassification adjustments from AOCI for the period, net of tax |  | $ | 3,992 |  |  | $ | 4,226 |  |  |

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