SHAREHOLDERS’ EQUITY AND COMPENSATION PLANS (Tables)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following tables present the changes in accumulated other comprehensive income after-tax by component:

Three months ended
(in thousands)	Net Unrealized Gain on Available-for-Sale Debt Securities		Unamortized Gain (Loss) on Held-to-Maturity Securities		Net Unrealized Gain (Loss) on Cash Flow Hedges		Total
Balance, March 31, 2021	$	11,400	$	18,159	$	(3,382)	$	26,177
Net change	$	2,850	$	(837)	$	82	$	2,095
Balance, June 30, 2021	$	14,250	$	17,322	$	(3,300)	$	28,272
Balance, March 31, 2020	$	25,538	$	4,778	$	(7,219)	$	23,097
Net change	$	10,984	$	(329)	$	(943)	$	9,712
Transfer from available-for-sale to held-to-maturity	(8,650)		8,650		—		—
Balance, June 30, 2020	$	27,872	$	13,099	$	(8,162)	$	32,809
Six months ended
(in thousands)	Net Unrealized Gain (Loss) on Available-for-Sale Debt Securities		Unamortized Gain (Loss) on Held-to-Maturity Securities		Net Unrealized Gain (Loss) on Cash Flow Hedges		Total
Balance, December 31, 2020	$	22,320	$	19,308	$	(4,508)	$	37,120
Net change	$	(8,070)	$	(1,986)	$	1,208	$	(8,848)
Balance, June 30, 2021	$	14,250	$	17,322	$	(3,300)	$	28,272
Balance, December 31, 2019	$	14,977	$	4,934	$	(2,162)	$	17,749
Net change	$	21,545	$	(485)	$	(6,000)	$	15,060
Transfer from available-for-sale to held-to-maturity	$	(8,650)	$	8,650	$	—	$	—
Balance, June 30, 2020	$	27,872	$	13,099	$	(8,162)	$	32,809

Schedule of Pre-tax and After-tax Changes in the Components of Other Comprehensive Income

The following tables present the pre-tax and after-tax changes in the components of other comprehensive income:

	Three months ended June 30,
	2021						2020
(in thousands)	Pre-tax		Tax effect		After-tax		Pre-tax		Tax effect		After-tax
Change in unrealized gain on available-for-sale debt securities	$	3,795	$	945	$	2,850	$	14,587	$	3,603	$	10,984
Reclassification of gain on held-to-maturity securities(b)	(1,115)		(278)		(837)		(437)		(108)		(329)
Change in unrealized loss on cash flow hedges arising during the period	(273)		(68)		(205)		(1,563)		(386)		(1,177)
Reclassification of loss on cash flow hedges(b)	382		95		287		311		77		234
Total other comprehensive income	$	2,789	$	694	$	2,095	$	12,898	$	3,186	$	9,712
	Six months ended June 30,
	2021						2020
(in thousands)	Pre-tax		Tax effect		After-tax		Pre-tax		Tax effect		After-tax
Change in unrealized gain (loss) on available-for-sale debt securities	$	(10,746)	$	(2,676)	$	(8,070)	$	28,616	$	7,068	$	21,548
Reclassification adjustment for realized gain on sale of available-for-sale debt securities(a)	—		—		—		(4)		(1)		(3)
Reclassification of gain on held-to-maturity securities(b)	(2,644)		(658)		(1,986)		(644)		(159)		(485)
Change in unrealized gain (loss) on cash flow hedges arising during the period	855		213		642		(8,442)		(2,085)		(6,357)
Reclassification of loss on cash flow hedges(b)	754		188		566		474		117		357
Total other comprehensive income	$	(11,781)	$	(2,933)	$	(8,848)	$	20,000	$	4,940	$	15,060

(a)The pre-tax amount is reported in noninterest income/expense in the Consolidated Statements of Operations

(b)The pre-tax amount is reported in interest income/expense in the Consolidated Statements of Operations

Schedule of Stock Options Roll Forward

During the six months ended June 30, 2021, employee stock options were granted under the Amended and Restated 2018 Stock Incentive Plan.

Various information related to the stock options is shown below.

	Employee Stock Options	Weighted Average Life	Weighted Average Price		Shares Exercisable	Weighted Average Exercise Price
Options Outstanding, December 31, 2020	—
Options granted	111,804		$	43.81	—	$	—
Options forfeited	(1,500)
Options Outstanding, June 30, 2021	110,304	9.7