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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) |
Schedule of changes in accumulated other comprehensive income (loss), net of tax | The following table summarizes the changes in Accumulated Other Comprehensive Income (Loss) balances, net of tax effects at the dates indicated (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Total
​ | ​ | ​ | ​ | ​ | ​ | Accumulated
​ | ​ | ​ | ​ | ​ | ​ | Other
​ | ​ | AFS | ​ | Cash Flow | ​ | Comprehensive
​ | ​ | Securities | ​ | Hedge | ​ | Income (Loss)
Balance at January 1, 2024 | ​ | $ | (54,684) | ​ | $ | 1,748 | ​ | $ | (52,936)
Unrealized gain (loss) arising during the period, net of tax | ​ | ​ | (2,567) | ​ | ​ | 4,280 | ​ | ​ | 1,713
Reclassification adjustment for gain included in net income, net of tax | ​ | ​ | — | ​ | ​ | (867) | ​ | ​ | (867)
Other comprehensive income (loss), net of tax | ​ | ​ | (2,567) | ​ | ​ | 3,413 | ​ | ​ | 846
Balance at March 31, 2024 | ​ | $ | (57,251) | ​ | $ | 5,161 | ​ | $ | (52,090)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at January 1, 2023 | ​ | $ | (61,833) | ​ | $ | 7,535 | ​ | $ | (54,298)
Unrealized gain (loss) arising during the period, net of tax | ​ | ​ | 5,719 | ​ | ​ | (695) | ​ | ​ | 5,024
Reclassification adjustment for gain included in net income, net of tax | ​ | ​ | — | ​ | ​ | (858) | ​ | ​ | (858)
Other comprehensive income (loss), net of tax | ​ | ​ | 5,719 | ​ | ​ | (1,553) | ​ | ​ | 4,166
Balance at March 31, 2023 | ​ | $ | (56,114) | ​ | $ | 5,982 | ​ | $ | (50,132)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ ​ The following table presents the tax effects allocated to each component of Accumulated Other Comprehensive Income (Loss) at the dates indicated (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gross | ​ | Tax | ​ | ​
​ | ​ | Amount | ​ | Component | ​ | Total
At March 31, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized gain (loss) on AFS Securities | ​ | $ | (82,271) | ​ | $ | 25,020 | ​ | $ | (57,251)
Unrealized gain (loss) on Cash Flow Hedges | ​ | ​ | 7,409 | ​ | ​ | (2,248) | ​ | ​ | 5,161
Total ending other comprehensive income (loss) | ​ | $ | (74,862) | ​ | $ | 22,772 | ​ | $ | (52,090)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At December 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized gain (loss) on AFS Securities | ​ | $ | (77,783) | ​ | $ | 23,098 | ​ | $ | (54,685)
Unrealized gain (loss) on Cash Flow Hedges | ​ | ​ | 2,574 | ​ | ​ | (825) | ​ | ​ | 1,749
Total ending other comprehensive income (loss) | ​ | $ | (75,209) | ​ | $ | 22,273 | ​ | $ | (52,936)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of reclassifications out of accumulated other comprehensive income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gross | ​ | Tax | ​ | ​
​ | ​ | Amount | ​ | Component | ​ | Total
At March 31, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized gain (loss) on AFS Securities | ​ | $ | (82,271) | ​ | $ | 25,020 | ​ | $ | (57,251)
Unrealized gain (loss) on Cash Flow Hedges | ​ | ​ | 7,409 | ​ | ​ | (2,248) | ​ | ​ | 5,161
Total ending other comprehensive income (loss) | ​ | $ | (74,862) | ​ | $ | 22,772 | ​ | $ | (52,090)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At December 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized gain (loss) on AFS Securities | ​ | $ | (77,783) | ​ | $ | 23,098 | ​ | $ | (54,685)
Unrealized gain (loss) on Cash Flow Hedges | ​ | ​ | 2,574 | ​ | ​ | (825) | ​ | ​ | 1,749
Total ending other comprehensive income (loss) | ​ | $ | (75,209) | ​ | $ | 22,273 | ​ | $ | (52,936)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​

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