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Other Comprehensive (Loss) Income | 9 Months Ended
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Sep. 30, 2022
Other Comprehensive Income [Abstract] |
Other Comprehensive (Loss) Income | Other Comprehensive (Loss) Income The following table presents the components of other comprehensive (loss) income for the three and nine months ended September 30, 2022 and 2021.
(dollars in thousands) |  | Before Tax |  | Tax Effect |  | Net of Tax
Three Months Ended September 30, 2022 |  |  |  |  |  |
Net unrealized (loss) on securities available-for-sale |  | $ | (81,384) |  |  | $ | 21,355 |  |  | $ | (60,029) |
Less: Reclassification adjustment for net (gain) loss included in net income |  | (4) |  |  | 1 |  |  | (3) |
Total unrealized (loss) on investment securities available-for-sale |  | (81,388) |  |  | 21,356 |  |  | (60,032) |
Amortization of unrealized loss on securities transferred to held-to-maturity |  | 2,382 |  |  | (620) |  |  | 1,762 |
Total unrealized loss recognized on investment securities held-to-maturity |  | 2,382 |  |  | (620) |  |  | 1,762 |
Other comprehensive (loss) |  | $ | (79,006) |  |  | $ | 20,736 |  |  | $ | (58,270) |
Three Months Ended September 30, 2021 |  |  |  |  |  |
Net unrealized (loss) on securities available-for-sale |  | $ | (7,682) |  |  | $ | 1,979 |  |  | $ | (5,703) |
Less: reclassification adjustment for net (gain) loss included in net income |  | (1,519) |  |  | 386 |  |  | (1,133) |
Total unrealized (loss) gain on investment securities available-for-sale |  | (9,201) |  |  | 2,365 |  |  | (6,836) |
Other comprehensive (loss) |  | $ | (9,201) |  |  | $ | 2,365 |  |  | $ | (6,836) |
Nine Months Ended September 30, 2022 |  |  |  |  |  |
Net unrealized (loss) on securities available-for-sale |  | $ | (205,329) |  |  | $ | 53,876 |  |  | $ | (151,453) |
Less: Reclassification adjustment for net loss (gain) included in net income |  | 172 |  |  | (58) |  |  | 114 |
Total unrealized (loss) on investment securities available-for-sale |  | (205,157) |  |  | 53,818 |  |  | (151,339) |
Net unrealized (loss) gain on securities transferred to held-to-maturity |  | (66,193) |  |  | 17,098 |  |  | (49,095) |
Amortization of unrealized loss on securities transferred to held-to-maturity |  | 5,071 |  |  | (1,318) |  |  | 3,753 |
Total unrealized (loss) on investment securities held-to-maturity |  | (61,122) |  |  | 15,780 |  |  | (45,342) |
Net unrealized gain on derivatives |  | 284 |  |  | — |  |  | 284 |
Total unrealized gain on derivatives |  | 284 |  |  | — |  |  | 284 |
Other comprehensive (loss) |  | $ | (265,995) |  |  | $ | 69,598 |  |  | $ | (196,397) |
Nine Months Ended September 30, 2021 |  |  |  |  |  |
Net unrealized (loss) on securities available-for-sale |  | $ | (22,437) |  |  | $ | 5,771 |  |  | $ | (16,666) |
Less: Reclassification adjustment for net (gain) loss included in net income |  | (2,058) |  |  | 524 |  |  | (1,534) |
Total unrealized (loss) gain on investment securities available-for-sale |  | (24,495) |  |  | 6,295 |  |  | (18,200) |
Net unrealized gain on derivatives |  | 1,033 |  |  | (264) |  |  | 769 |
Reclassification adjustment for (gain) loss included in net income |  | (517) |  |  | 132 |  |  | (385) |
Total unrealized gain on derivatives |  | 516 |  |  | (132) |  |  | 384 |
Other comprehensive (loss) |  | $ | (23,979) |  |  | $ | 6,163 |  |  | $ | (17,816) |
(1) Represents unamortized AOCI on securities transferred to held-to-maturity status. The following table presents the changes in each component of accumulated other comprehensive (loss) income, net of tax, for the three and nine months ended September 30, 2022 and 2021.
|  | Securities |  | Securities |  |  |  | Accumulated Other
|  | Available |  | Held to |  |  |  | Comprehensive
(dollars in thousands) |  | For Sale |  | Maturity |  | Derivatives |  | Income (Loss)
Three Months Ended September 30, 2022 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (105,265) |  |  | $ | (47,104) |  |  | $ | — |  |  | $ | (152,369) |
Other comprehensive (loss) before reclassifications |  | (60,029) |  |  | — |  |  | — |  |  | (60,029) |
Amounts reclassified from accumulated other comprehensive income (loss) |  | (3) |  |  | — |  |  | — |  |  | (3) |
Amortization of unrealized loss on securities transferred to held-to-maturity |  | — |  |  | 1,762 |  |  | — |  |  | 1,762 |
Net other comprehensive (loss) during period |  | (60,032) |  |  | 1,762 |  |  | — |  |  | (58,270) |
Balance at end of period |  | $ | (165,297) |  |  | $ | (45,342) |  |  | $ | — |  |  | $ | (210,639) |
Three Months Ended September 30, 2021 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | 4,804 |  |  | $ | — |  |  | $ | (284) |  |  | $ | 4,520 |
Other comprehensive (loss) before reclassifications |  | (5,703) |  |  | — |  |  | — |  |  | (5,703) |
Amounts reclassified from accumulated other comprehensive income (loss) |  | (1,133) |  |  | — |  |  | — |  |  | (1,133) |
Net other comprehensive (loss) during period |  | (6,836) |  |  | — |  |  | — |  |  | (6,836) |
Balance at end of period |  | $ | (2,032) |  |  | $ | — |  |  | $ | (284) |  |  | $ | (2,316) |
Nine Months Ended September 30, 2022 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (13,958) |  |  | $ | — |  |  | $ | (284) |  |  | $ | (14,242) |
Other comprehensive (loss) income before reclassifications |  | (151,453) |  |  | — |  |  | 284 |  |  | (151,169) |
Amounts reclassified from accumulated other comprehensive income (loss) |  | 114 |  |  | — |  |  | — |  |  | 114 |
Net unrealized (loss) on securities transferred to held-to-maturity |  | — |  |  | (49,095) |  |  | — |  |  | (49,095) |
Amortization of unrealized loss on securities transferred to held-to-maturity |  | — |  |  | 3,753 |  |  | — |  |  | 3,753 |
Net other comprehensive (loss) income during period |  | (151,339) |  |  | (45,342) |  |  | 284 |  |  | (196,397) |
Balance at end of period |  | $ | (165,297) |  |  | $ | (45,342) |  |  | $ | — |  |  | $ | (210,639) |
Nine Months Ended September 30, 2021 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | 16,168 |  |  | $ | — |  |  | $ | (668) |  |  | $ | 15,500 |
Other comprehensive (loss) income before reclassifications |  | (16,666) |  |  | — |  |  | 769 |  |  | (15,897) |
Amounts reclassified from accumulated other comprehensive income (loss) |  | (1,534) |  |  | — |  |  | (385) |  |  | (1,919) |
Net other comprehensive (loss) income during period |  | (18,200) |  |  | — |  |  | 384 |  |  | (17,816) |
Balance at end of period |  | $ | (2,032) |  |  | $ | — |  |  | $ | (284) |  |  | $ | (2,316) |
The following tables present the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2022 and 2021.
|  | Amount Reclassified from |  |
|  | Accumulated Other |  |
Details about Accumulated Other |  | Comprehensive (Loss) Income |  | Affected Line Item in
Comprehensive Loss Components |  | Three Months Ended September 30, |  | Consolidated Statements of
(dollars in thousands) |  | 2022 |  | 2021 |  | Income
Realized (loss) gain on sale of investment securities |  | $ | 4 |  |  | $ | 1,519 |  |  | Net gain (loss) on sale of investment securities
Income tax benefit (expense) |  | (1) |  |  | (386) |  |  | Income tax expense
Total reclassifications for the periods |  | $ | 3 |  |  | $ | 1,133 |  |  |
|  | Amount Reclassified from |  |
|  | Accumulated Other |  |
Details about Accumulated Other |  | Comprehensive (Loss) Income |  | Affected Line Item in
Comprehensive Loss Components |  | Nine Months Ended September 30, |  | Consolidated Statements of
(dollars in thousands) |  | 2022 |  | 2021 |  | Income
Realized (loss) gain on sale of investment securities |  | $ | (172) |  |  | $ | 2,058 |  |  | Net gain (loss) on sale of investment securities
Interest income derivative deposits |  | — |  |  | 517 |  |  | Interest on balances with other banks and short-term investments
Income tax benefit (expense) |  | 58 |  |  | (656) |  |  | Income tax expense
Total reclassifications for the periods |  | $ | (114) |  |  | $ | 1,919 |  |  |

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- Definition The entire disclosure of other comprehensive income. + References No definition available. + Details
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