ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

9 Months Ended

Sep. 30, 2023

AOCI Attributable to Parent [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table presents the activity and accumulated balances for components of other comprehensive income (loss):


	Unrealized Gains (Losses) on Debt Securities
(dollars in thousands)	Available-for-Sale		Held-to-Maturity		Derivatives		Total

Three Months Ended September 30, 2023
Balance, June 30, 2023	$	(61,560)	$	(9,256)	$	154	$	(70,662)
Other comprehensive income (loss) before reclassifications	(11,326)		—		58		(11,268)
Reclassifications	13		518		(131)		400
Other comprehensive income (loss), before tax	(11,313)		518		(73)		(10,868)
Income tax expense (benefit)	(3,224)		147		(21)		(3,098)
Other comprehensive income (loss), after tax	(8,089)		371		(52)		(7,770)
Balance, September 30, 2023	$	(69,649)	$	(8,885)	$	102	$	(78,432)

Three Months Ended September 30, 2022
Balance, June 30, 2022	$	(42,061)	$	(10,656)	$	(103)	$	(52,820)

Other comprehensive income (loss) before reclassifications	(35,358)		—		374		(34,984)
Reclassifications	—		504		14		518
Other comprehensive income (loss), before tax	(35,358)		504		388		(34,466)
Income tax expense (benefit)	(10,079)		144		111		(9,824)
Other comprehensive income (loss), after tax	(25,279)		360		277		(24,642)
Balance, September 30, 2022	$	(67,340)	$	(10,296)	$	174	$	(77,462)


	Unrealized Gains (Losses) on Debt Securities
(dollars in thousands)	Available-for-Sale		Held-to-Maturity		Derivatives		Total

Nine Months Ended September 30, 2023
Balance, December 31, 2022	$	(61,998)	$	(9,946)	$	185	$	(71,759)
Other comprehensive income (loss) before reclassifications	(12,521)		—		219		(12,302)
Reclassifications	1,820		1,483		(334)		2,969
Other comprehensive income (loss), before tax	(10,701)		1,483		(115)		(9,333)
Income tax expense (benefit)	(3,050)		422		(32)		(2,660)
Other comprehensive income (loss), after tax	(7,651)		1,061		(83)		(6,673)
Balance, September 30, 2023	$	(69,649)	$	(8,885)	$	102	$	(78,432)

Nine Months Ended September 30, 2022
Balance, December 31, 2021	$	5,736	$	(3,514)	$	(751)	$	1,471
Transfer from available-for-sale to held-to-maturity	7,664		(7,664)		—		—
Other comprehensive income (loss) before reclassifications	(112,931)		—		1,117		(111,814)
Reclassifications	—		1,234		177		1,411
Other comprehensive income (loss), before tax	(112,931)		1,234		1,294		(110,403)
Income tax expense (benefit)	(32,191)		352		369		(31,470)
Other comprehensive income (loss), after tax	(80,740)		882		925		(78,933)
Balance, September 30, 2022	$	(67,340)	$	(10,296)	$	174	$	(77,462)

Reclassifications from accumulated other comprehensive income (loss) for unrealized gains (losses) on debt securities available-for-sale are included in either gains (losses) on sales of securities or provision for credit losses in the accompanying consolidated statements of income.

Reclassifications from accumulated other comprehensive income (loss) for unrealized gains on debt securities held-to-maturity are included in securities interest income in the accompanying consolidated statements of income.

Reclassifications from accumulated other comprehensive income (loss) for the fair value of derivative financial instruments represent net interest payments received or made on derivatives designated as cash flow hedges. See Note 9 for additional information.