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ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Tables) | 9 Months Ended
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Sep. 30, 2024
Stockholders' Equity Note [Abstract] |
Schedule of Accumulated Other Comprehensive Income/(Loss) Balances, Net of Tax | The following is a summary of the accumulated other comprehensive income/(loss) balances, net of tax, for the three months ended September 30, 2024 and 2023:
|  |  |  |  |  |  |  | Other |  |  |  |
|  |  |  |  |  |  |  | Comprehensive |  |  |  |
|  |  |  |  | Other |  |  | Income/(Loss) |  |  |  |
|  |  |  |  | Comprehensive |  |  | Three Months |  |  |  |
|  | Balance at |  |  | Income/(Loss) |  |  | Ended |  |  | Balance at |
|  | July 1, |  |  | Before |  |  | September 30, |  |  | September 30, |
(In thousands) |  | 2024 |  |  | Reclassifications |  |  | 2024 |  |  | 2024 |
Net unrealized holding gain/(loss) on securities available for sale, net of tax |  | $ | (75,188 | ) |  | $ | 17,574 |  |  | $ | 17,574 |  |  | $ | (57,614 | )
Gain/(loss) on cash flow hedges |  |  | 6,846 |  |  |  | (4,052 | ) |  |  | (4,052 | ) |  |  | 2,794 |
Accumulated other comprehensive gain/(loss), net of tax |  | $ | (68,342 | ) |  | $ | 13,522 |  |  | $ | 13,522 |  |  | $ | (54,820 | )
|  |  |  |  |  |  |  | Other |  |  |  |
|  |  |  |  |  |  |  | Comprehensive |  |  |  |
|  |  |  |  | Other |  |  | Income/(Loss) |  |  |  |
|  |  |  |  | Comprehensive |  |  | Three Months |  |  |  |
|  | Balance at |  |  | Income/(Loss) |  |  | Ended |  |  | Balance at |
|  | July 1, |  |  | Before |  |  | September 30, |  |  | September 30, |
(In thousands) |  | 2023 |  |  | Reclassifications |  |  | 2023 |  |  | 2023 |
Net unrealized holding gain/(loss) on securities available for sale, net of tax |  | $ | (76,047 | ) |  | $ | (14,987 | ) |  | $ | (14,987 | ) |  | $ | (91,034 | )
Gain/(loss) on cash flow hedges |  |  | 8,050 |  |  |  | 1,331 |  |  |  | 1,331 |  |  |  | 9,381 |
Accumulated other comprehensive gain/(loss), net of tax |  | $ | (67,997 | ) |  | $ | (13,656 | ) |  | $ | (13,656 | ) |  | $ | (81,653 | )
The following is a summary of the accumulated other comprehensive income/(loss) balances, net of tax, for the nine months ended September 30, 2024 and 2023:
|  |  |  |  |  |  |  | Amount |  |  | Other |  |  |  |
|  |  |  |  |  |  |  | Reclassified |  |  | Comprehensive |  |  |  |
|  |  |  |  | Other |  |  | From |  |  | Income/(Loss) |  |  |  |
|  |  |  |  | Comprehensive |  |  | Accumulated |  |  | Nine Months |  |  |  |
|  | Balance at |  |  | Income/(Loss) |  |  | Other |  |  | Ended |  |  | Balance at |
|  | January 1, |  |  | Before |  |  | Comprehensive |  |  | September 30, |  |  | September 30, |
(In thousands) |  | 2024 |  |  | Reclassifications |  |  | Income/(Loss) |  |  | 2024 |  |  | 2024 |
Net unrealized holding gain/(loss) on securities available for sale, net of tax |  | $ | (69,809 | ) |  | $ | 12,195 |  |  | $ | — |  |  | $ | 12,195 |  |  | $ | (57,614 | )
Gain/(loss) on cash flow hedges |  |  | 4,931 |  |  |  | (2,137 | ) |  |  | — |  |  |  | (2,137 | ) |  |  | 2,794 |
Accumulated other comprehensive gain/(loss), net of tax |  | $ | (64,878 | ) |  | $ | 10,058 |  |  | $ | — |  |  | $ | 10,058 |  |  | $ | (54,820 | )
|  |  |  |  |  |  |  | Amount |  |  | Other |  |  |  |
|  |  |  |  |  |  |  | Reclassified |  |  | Comprehensive |  |  |  |
|  |  |  |  | Other |  |  | From |  |  | Income/(Loss) |  |  |  |
|  |  |  |  | Comprehensive |  |  | Accumulated |  |  | Nine Months |  |  |  |
|  | Balance at |  |  | Income/(Loss) |  |  | Other |  |  | Ended |  |  | Balance at |
|  | January 1, |  |  | Before |  |  | Comprehensive |  |  | September 30, |  |  | September 30, |
(In thousands) |  | 2023 |  |  | Reclassifications |  |  | Income/(Loss) |  |  | 2023 |  |  | 2023 |
Net unrealized holding gain/(loss) on securities available for sale, net of tax |  | $ | (80,972 | ) |  | $ | (10,062 | ) |  | $ | — |  |  | $ | (10,062 | ) |  | $ | (91,034 | )
Gain/(loss) on cash flow hedges |  |  | 6,761 |  |  |  | 2,680 |  |  |  | (60 | ) |  |  | 2,620 |  |  |  | 9,381 |
Accumulated other comprehensive gain/(loss), net of tax |  | $ | (74,211 | ) |  | $ | (7,382 | ) |  | $ | (60 | ) |  | $ | (7,442 | ) |  | $ | (81,653 | )
Schedule of Reclassifications Out of Accumulated Other Comprehensive Income/(loss) | The following represents the reclassifications out of accumulated other comprehensive income/(loss) for the nine months ended September 30, 2024 and 2023:
|  | Nine Months Ended |  |  |
|  | September 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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