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ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables) | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
Schedule of Accumulated Other Comprehensive (Loss) Income | The following are changes in accumulated other comprehensive loss by component, net of tax, for the year ending December 31, 2023:
|  | Cash Flow Hedges |  |  | Available for Sale Securities |  |  | Held to Maturity Securities |  |  | Total |
Beginning balance |  | $ | — |  |  | $ | (18,400 | ) |  | $ | (5,860 | ) |  | $ | (24,260 | )
Unrealized gains (losses) arising during the period |  |  | — |  |  |  | 282 |  |  |  | (1,104 | ) |  |  | (822 | )
Tax effect |  |  | — |  |  |  | (59 | ) |  |  | — |  |  |  | (59 | )
Amounts reclassified from accumulated other comprehensive loss |  |  | — |  |  |  | (181 | ) |  |  | — |  |  |  | (181 | )
Net current period other comprehensive income (loss) |  |  | — |  |  |  | 42 |  |  |  | (1,104 | ) |  |  | (1,062 | )
Ending balance |  | $ | — |  |  | $ | (18,358 | ) |  | $ | (6,964 | ) |  | $ | (25,322 | )
The following are changes in accumulated other comprehensive loss by component, net of tax, for the year ended December 31, 2022:
|  | Cash Flow Hedges |  |  | Available for Sale Securities |  |  | Held to Maturity Securities |  |  | Total |
Beginning balance |  | $ | 188 |  |  | $ | (2,744 | ) |  | $ | 8,861 |  |  | $ | 6,305 |
Transfer from AFS to HTM |  |  | — |  |  |  | 13,186 |  |  |  | (13,186 | ) |  |  | — |
Unrealized gains (losses) arising during the period |  |  | 497 |  |  |  | (33,175 | ) |  |  | (1,535 | ) |  |  | (34,213 | )
Tax effect |  |  | — |  |  |  | 4,197 |  |  |  | — |  |  |  | 4,197 |
Amounts reclassified from accumulated other comprehensive loss |  |  | (685 | ) |  |  | 136 |  |  |  | — |  |  |  | (549 | )
Net current period other comprehensive loss |  |  | (188 | ) |  |  | (15,656 | ) |  |  | (14,721 | ) |  |  | (30,565 | )
Ending balance |  | $ | — |  |  | $ | (18,400 | ) |  | $ | (5,860 | ) |  | $ | (24,260 | )
The following are changes in accumulated other comprehensive income by component, net of tax, for the year ended December 31, 2021:
|  | Cash Flow Hedges |  |  | Available for Sale Securities |  |  | Held to Maturity Securities |  |  | Total |
Beginning balance |  | $ | (1,151 | ) |  | $ | 10,780 |  |  | $ | — |  |  | $ | 9,629 |
Transfer from AFS to HTM |  |  |  |  |  | (10,235 | ) |  |  | 10,235 |  |  |  | — |
Unrealized gains (losses) arising during the period |  |  | 873 |  |  |  | (6,884 | ) |  |  | (1,374 | ) |  |  | (7,385 | )
Tax effect |  |  | — |  |  |  | 3,595 |  |  |  | — |  |  |  | 3,595 |
Amounts reclassified from accumulated other comprehensive loss |  |  | 466 |  |  |  | — |  |  |  | — |  |  |  | 466 |
Net current period other comprehensive income (loss) |  |  | 1,339 |  |  |  | (13,524 | ) |  |  | 8,861 |  |  |  | (3,324 | )
Ending balance |  | $ | 188 |  |  | $ | (2,744 | ) |  | $ | 8,861 |  |  | $ | 6,305 |
Reclassification out of Accumulated Other Comprehensive Loss | The following are amounts reclassified out of each component of accumulated other comprehensive loss for the year ended December 31, 2023:
Details about Accumulated Other Comprehensive Loss Components |  | Amount Reclassified From Accumulated Other Comprehensive Loss |  |  | Affected Line Item in the Statement Where Net Earnings is Presented
Unrealized loss on available for sale securities |  | $ | 229 |  |  | Net realized loss on sale of securities available for sale
Tax effect |  |  | (48 | ) |  | Tax expense
Net of tax |  | $ | 181 |  |  |
The following are amounts reclassified out of each component of accumulated other comprehensive loss for the year ended December 31, 2022:
Details about Accumulated Other Comprehensive Loss Components |  | Amount Reclassified From Accumulated Other Comprehensive Loss |  |  | Affected Line Item in the Statement Where Net Earnings is Presented
Unrealized gain on available for sale securities |  | $ | (172 | ) |  | Net realized gain on sale of securities available for sale
Tax effect |  |  | 36 |  |  | Tax expense
Net of tax |  | $ | (136 | ) |  |
Gains on cash flow hedges |  |  | 867 |  |  | Other income
Tax effect |  |  | (182 | ) |  | Tax expense
Net of tax |  | $ | 685 |  |  |
Total amounts reclassified out of accumulated other comprehensive loss |  | $ | 549 |  |  |
The following are amounts reclassified out of each component of accumulated other comprehensive loss for the year ended December 31, 2021:
Details about Accumulated Other Comprehensive Loss Components |  | Amount Reclassified From Accumulated Other Comprehensive Loss |  |  | Affected Line Item in the Statement Where Net Earnings is Presented
Unrealized loss on interest rate termination |  | $ | 590 |  |  | Other expenses
Tax effect |  |  | (124 | ) |  | Tax expense
Net of tax |  | $ | 466 |  |  |

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