ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2022

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

NOTE 19 — ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table summarizes the changes in Accumulated Other Comprehensive Income (Loss) balances, net of tax effects at the dates indicated (in thousands):

	Year Ended December 31,
	2022		2021		2020
Beginning balance	$	(7,504)	$	973	$	1,207
Other comprehensive income, net of tax
Unrealized gain (loss) on AFS securities:
Unrealized holding gain (loss) arising during the period		(76,934)		(14,722)		4,877
Reclassification adjustment for (gain) loss included in net income		—		(609)		(3,286)
Tax effect		23,353		4,795		(514)
Net of tax		(53,581)		(10,536)		1,077
Unrealized gain (loss) on cash flow hedges:
Unrealized holding gain (loss) arising during the period		11,704		2,957		(1,925)
Reclassification adjustment for gain included in net income		(1,949)		—		—
Tax effect		(2,968)		(898)		614
Net of tax		6,787		2,059		(1,311)
Net current period other comprehensive income (loss)		(46,794)		(8,477)		(234)
Ending balance	$	(54,298)	$	(7,504)	$	973

The proceeds from sales and calls of securities during the years ended December 31, 2022, 2021 and 2020 were $0.0, $43.2 million and $141.4 million, respectively. The following table shows the amounts reclassified out of each component of accumulated other comprehensive income for the gain on the sale of securities (in thousands):

							Affected line item in
							the Consolidated Statements
	Year Ended December 31,						of Operations
		2022		2021		2020
Realized gain on sale of AFS securities	$	—	$	609	$	3,286	Gain on Sale of Securities
Income tax (expense) benefit		—		(197)		(1,036)	Income tax expense
Total reclassifications, net of income tax	$	—	$	412	$	2,250
Realized gain on cash flow hedges	$	1,949	$	—	$	—	Licensing fees
Income tax (expense) benefit		(599)		—		—	Income tax expense
Total reclassifications, net of income tax	$	1,350	$	—	$	—