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Other Comprehensive (Loss) Income (Tables)

9 Months Ended

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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Other Comprehensive Income

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Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss).

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
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-Section 45
-Paragraph 14A
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669686-108580

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-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

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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.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
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