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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Mar. 31, 2021
Statement of Comprehensive Income [Abstract]      
Net income $ 66,904 $ 84,831 $ 68,668
Other comprehensive loss, net of tax:      
Unrealized loss on securities available-for-sale arising during the period, net of income taxes [1] (118,591) (4,176) (72,592)
Reclassification adjustment for net gain on sales of securities included in net income, net of income taxes [2] (1,525) (2,562) (2,889)
Net unrealized loss on securities transferred from available-for-sale to held-to-maturity, net of income taxes [3] (16,558) (2,415) 0
Amortization of unrealized loss on securities transferred from available-for-sale to held-to-maturity, net of income taxes [4] 303 115 0
Other comprehensive loss, net of tax (136,371) (9,038) (75,481)
Comprehensive (loss) income, net of tax $ (69,467) $ 75,793 $ (6,813)
[1] Income tax (benefit) of the unrealized loss on securities was $(47.4) million, $(1.7) million, and $(29.1) million for the three months ended March 31, 2022, December 31, 2021, and March 31, 2021, respectively.
[2] Income tax expense on the reclassification adjustment for net gain on sales of securities included in net income was $609,000, $1.0 million, and $1.2 million for the three months ended March 31, 2022, December 31, 2021, and March 31, 2021, respective.
[3] Income tax (benefit) on the unrealized loss on securities transferred from available-for-sale to held-to maturity was $(6.6) million and $(968,000) for the three months ended March 31, 2022 and December 31, 2021, respectively.
[4] Income tax expense on the amortization of unrealized loss on securities transferred from available-for-sale to held-to maturity included in net income was $121,000 and $46,000 for the three months ended March 31, 2022 and December 31, 2021, respectively.