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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Statement of Comprehensive Income [Abstract]    
Net income $ 62,562 $ 66,904
Other comprehensive income (loss), net of tax:    
Unrealized (loss) gain on securities available-for-sale, net of income taxes [1] 36,400 (118,591)
Reclassification adjustment for net loss (gain) on sales of securities included in net income, net of income taxes [2] (99) (1,525)
Net unrealized loss on securities transferred from available-for-sale to held-to-maturity, net of income taxes [3] (36,076) (16,558)
Amortization of unrealized loss on securities transferred from available-for-sale to held-to-maturity, net of income taxes [4] 2,293 303
Other comprehensive income (loss), net of tax 2,518 (136,371)
Comprehensive income (loss), net of tax $ 65,080 $ (69,467)
[1] Income tax expense (benefit) of the unrealized gain (loss) on securities was $14.4 million and $(47.4) million for the three months ended March 31, 2023 and March 31, 2022, respectively.
[2] Income tax expense on the reclassification adjustment for net gain on sales of securities included in net income was $39,000 and $609,000 for the three months ended March 31, 2023 and March 31, 2022, respectively.
[3] Income tax (benefit) expense on the unrealized loss on securities transferred from available-for-sale to held-to-maturity was $(14.3) million and $(6.6) million for the three months ended March 31, 2023 and March 31, 2022, 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 $915,000 and $121,000 for the three months ended March 31, 2023 and March 31, 2022, respectively.