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Other Comprehensive (Loss) Income (Tables) | 9 Months Ended
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Sep. 30, 2022
Other Comprehensive Income [Abstract] |
Schedule of components of 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) |
Schedule of changes in each component of accumulated other comprehensive (loss) income, net of tax | 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) |
Schedule of amounts reclassified out of accumulated other comprehensive (loss) income | 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 Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669686-108580 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 45 -Paragraph 20 -URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900 + Details
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- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=126968391&loc=d3e526-108580 + Details
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