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ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) | 6 Months Ended
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Jun. 30, 2024
Stockholders' Equity Note [Abstract] |
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) | 11. ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) The following is a summary of the accumulated other comprehensive income/(loss) balances, net of tax, for the three months ended June 30, 2024 and 2023:
|  |  |  |  |  |  |  | Amount |  |  | Other |  |  |  |
|  |  |  |  |  |  |  | Reclassified |  |  | Comprehensive |  |  |  |
|  |  |  |  | Other |  |  | From |  |  | Income/(Loss) |  |  |  |
|  |  |  |  | Comprehensive |  |  | Accumulated |  |  | Three Months |  |  |  |
|  | Balance at |  |  | Income/(Loss) |  |  | Other |  |  | Ended |  |  | Balance at |
|  | April 1, |  |  | Before |  |  | Comprehensive |  |  | June 30, |  |  | June 30, |
(In thousands) |  | 2024 |  |  | Reclassifications |  |  | Income/(Loss) |  |  | 2024 |  |  | 2024 |
Net unrealized holding gain/(loss) on securities available for sale, net of tax |  | $ | (74,769 | ) |  | $ | (419 | ) |  | $ | — |  |  | $ | (419 | ) |  | $ | (75,188 | )
Gain/(loss) on cash flow hedges |  |  | 7,009 |  |  |  | (163 | ) |  |  | — |  |  |  | (163 | ) |  |  | 6,846 |
Accumulated other comprehensive gain/(loss), net of tax |  | $ | (67,760 | ) |  | $ | (582 | ) |  | $ | — |  |  | $ | (582 | ) |  | $ | (68,342 | )
|  |  |  |  |  |  |  | Amount |  |  | Other |  |  |  |
|  |  |  |  |  |  |  | Reclassified |  |  | Comprehensive |  |  |  |
|  |  |  |  | Other |  |  | From |  |  | Income/(Loss) |  |  |  |
|  |  |  |  | Comprehensive |  |  | Accumulated |  |  | Three Months |  |  |  |
|  | Balance at |  |  | Income/(Loss) |  |  | Other |  |  | Ended |  |  | Balance at |
|  | April 1, |  |  | Before |  |  | Comprehensive |  |  | June 30, |  |  | June 30, |
(In thousands) |  | 2023 |  |  | Reclassifications |  |  | Income/(Loss) |  |  | 2023 |  |  | 2023 |
Net unrealized holding gain/(loss) on securities available for sale, net of tax |  | $ | (72,251 | ) |  | $ | (3,796 | ) |  | $ | — |  |  | $ | (3,796 | ) |  | $ | (76,047 | )
Gain/(loss) on cash flow hedges |  |  | 4,806 |  |  |  | 3,274 |  |  |  | (30 | ) |  |  | 3,244 |  |  |  | 8,050 |
Accumulated other comprehensive gain/(loss), net of tax |  | $ | (67,445 | ) |  | $ | (522 | ) |  | $ | (30 | ) |  | $ | (552 | ) |  | $ | (67,997 | )
The following represents the reclassifications out of accumulated other comprehensive income/(loss) for the three months ended June 30, 2024 and 2023:
|  | Three Months Ended |  |  |
|  | June 30, |  |  |
(In thousands) |  | 2024 |  |  | 2023 |  |  | Affected Line Item in Income Statement
Unrealized gains/(losses) on cash flow hedge derivatives: |  |  |  |  |  |  |  |
Reclassification adjustment for amounts included in net income |  | $ | — |  |  | $ | (42 | ) |  | Interest Expense
Tax effect |  |  | — |  |  |  | 12 |  |  | Income tax expense
Total reclassifications, net of tax |  | $ | — |  |  | $ | (30 | ) |  |
The following is a summary of the accumulated other comprehensive income/(loss) balances, net of tax, for the six months ended June 30, 2024 and 2023:
|  |  |  |  |  |  |  | Amount |  |  | Other |  |  |  |
|  |  |  |  |  |  |  | Reclassified |  |  | Comprehensive |  |  |  |
|  |  |  |  | Other |  |  | From |  |  | Income/(Loss) |  |  |  |
|  |  |  |  | Comprehensive |  |  | Accumulated |  |  | Six Months |  |  |  |
|  | Balance at |  |  | Income/(Loss) |  |  | Other |  |  | Ended |  |  | Balance at |
|  | January 1, |  |  | Before |  |  | Comprehensive |  |  | June 30, |  |  | June 30, |
(In thousands) |  | 2024 |  |  | Reclassifications |  |  | Income/(Loss) |  |  | 2024 |  |  | 2024 |
Net unrealized holding gain/(loss) on securities available for sale, net of tax |  | $ | (69,809 | ) |  | $ | (5,379 | ) |  | $ | — |  |  | $ | (5,379 | ) |  | $ | (75,188 | )
Gain/(loss) on cash flow hedges |  |  | 4,931 |  |  |  | 1,915 |  |  |  | — |  |  |  | 1,915 |  |  |  | 6,846 |
Accumulated other comprehensive gain/(loss), net of tax |  | $ | (64,878 | ) |  | $ | (3,464 | ) |  | $ | — |  |  | $ | (3,464 | ) |  | $ | (68,342 | )
|  |  |  |  |  |  |  | Amount |  |  | Other |  |  |  |
|  |  |  |  |  |  |  | Reclassified |  |  | Comprehensive |  |  |  |
|  |  |  |  | Other |  |  | From |  |  | Income/(Loss) |  |  |  |
|  |  |  |  | Comprehensive |  |  | Accumulated |  |  | Six Months |  |  |  |
|  | Balance at |  |  | Income/(Loss) |  |  | Other |  |  | Ended |  |  | Balance at |
|  | January 1, |  |  | Before |  |  | Comprehensive |  |  | June 30, |  |  | June 30, |
(In thousands) |  | 2023 |  |  | Reclassifications |  |  | Income/(Loss) |  |  | 2023 |  |  | 2023 |
Net unrealized holding gain/(loss) on securities available for sale, net of tax |  | $ | (80,972 | ) |  | $ | 4,925 |  |  | $ | — |  |  | $ | 4,925 |  |  | $ | (76,047 | )
Gain/(loss) on cash flow hedges |  |  | 6,761 |  |  |  | 1,349 |  |  |  | (60 | ) |  |  | 1,289 |  |  |  | 8,050 |
Accumulated other comprehensive gain/(loss), net of tax |  | $ | (74,211 | ) |  | $ | 6,274 |  |  | $ | (60 | ) |  | $ | 6,214 |  |  | $ | (67,997 | )
The following represents the reclassifications out of accumulated other comprehensive income/(loss) for the six months ended June 30, 2024 and 2023:
|  | Six Months Ended |  |  |
|  | June 30, |  |  |
(In thousands) |  | 2024 |  |  | 2023 |  |  | Affected Line Item in Income
Unrealized gains/(losses) on cash flow hedge derivatives: |  |  |  |  |  |  |  |
Reclassification adjustment for amounts included in net income |  | $ | — |  |  | $ | (84 | ) |  | Interest Expense
Tax effect |  |  | — |  |  |  | 24 |  |  | Income tax expense
Total reclassifications, net of tax |  | $ | — |  |  | $ | (60 | ) |  |

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/220/tableOfContent + Details
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- References No definition available. + Details
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