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ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)
3 Months Ended
Mar. 31, 2022
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 March 31, 2022 and 2021:

 

 

 

 

 

 

 

 

 

 

 

Amount

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassified

 

 

Comprehensive

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

From

 

 

Income/(Loss)

 

 

 

 

 

 

 

 

 

 

 

Comprehensive

 

 

Accumulated

 

 

Three Months

 

 

 

 

 

 

 

Balance at

 

 

Income/(Loss)

 

 

Other

 

 

Ended

 

 

Balance at

 

 

 

January 1,

 

 

Before

 

 

Comprehensive

 

 

March 31,

 

 

March 31,

 

(In thousands)

 

2022

 

 

Reclassifications

 

 

Income/(Loss)

 

 

2022

 

 

2022

 

Net unrealized holding gain/(loss) on

   securities available for sale, net of tax

 

$

(9,873

)

 

$

(35,602

)

 

$

5,028

 

 

$

(30,574

)

 

$

(40,447

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain/(loss) on cash flow hedges

 

 

(2,501

)

 

 

2,010

 

 

 

 

 

 

2,010

 

 

 

(491

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated other comprehensive gain/(loss),

   net of tax

 

$

(12,374

)

 

$

(33,592

)

 

$

5,028

 

 

$

(28,564

)

 

$

(40,938

)

 

 

 

 

 

 

 

 

 

 

 

Amount

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassified

 

 

Comprehensive

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

From

 

 

Income/(Loss)

 

 

 

 

 

 

 

 

 

 

 

Comprehensive

 

 

Accumulated

 

 

Three Months

 

 

 

 

 

 

 

Balance at

 

 

Income/(Loss)

 

 

Other

 

 

Ended

 

 

Balance at

 

 

 

January 1,

 

 

Before

 

 

Comprehensive

 

 

March 31,

 

 

March 31,

 

(In thousands)

 

2021

 

 

Reclassifications

 

 

Income/(Loss)

 

 

2021

 

 

2021

 

Net unrealized holding gain/(loss) on

   securities available for sale, net of tax

 

$

5,521

 

 

$

(13,415

)

 

$

 

 

$

(13,415

)

 

$

(7,894

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain/(loss) on cash flow hedges

 

 

(6,913

)

 

 

1,043

 

 

 

 

 

 

1,043

 

 

 

(5,870

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated other comprehensive gain/(loss),

   net of tax

 

$

(1,392

)

 

$

(12,372

)

 

$

 

 

$

(12,372

)

 

$

(13,764

)

 

 

 

The following represents the reclassifications out of accumulated other comprehensive income/(loss) for the three months ended March 31, 2022 and 2021: 

 

 

Three Months Ended

 

 

 

 

 

March 31,

 

 

 

(In thousands)

 

2022

 

 

2021

 

 

Affected Line Item in Income Statement

Unrealized gains/(losses) on securities

   available for sale:

 

 

 

 

 

 

 

 

 

 

Reclassification adjustment for amounts

   included in net income

 

$

6,609

 

 

$

 

 

Securities losses, net

Tax effect

 

 

(1,581

)

 

 

 

 

Income tax expense

Total reclassifications, net of tax

 

$

5,028

 

 

$