ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

9 Months Ended

Sep. 30, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of components of other comprehensive income (loss)

The following tables present the components of other comprehensive income (loss) for the periods presented:

(dollars in thousands)	Before Tax		Tax Effect		Net of Tax
Three Months Ended September 30, 2023
Net change in fair value of investment securities:
Net unrealized losses on AFS investment securities arising during the period	$	(24,729)	$	(6,569)	$	(18,160)
Less: Reclassification adjustments from AOCI realized in net income	135		36		99
Less: Amortization of unrealized losses on investment securities transferred to HTM	2,026		538		1,488
Net change in fair value of investment securities	(22,568)		(5,995)		(16,573)
Net change in fair value of derivatives:
Net unrealized gains arising during the period	3,151		838		2,313
Net change in fair value of derivatives	3,151		838		2,313
SERPs:
Amortization of net actuarial gain	(19)		(7)		(12)
Amortization of net transition obligation	2		2		—
SERPs	(17)		(5)		(12)
Other comprehensive loss	$	(19,434)	$	(5,162)	$	(14,272)

(dollars in thousands)	Before Tax		Tax Effect		Net of Tax
Three Months Ended September 30, 2022
Net change in fair value of investment securities:
Net unrealized losses on AFS investment securities arising during the period	$	(37,854)	$	(10,122)	$	(27,732)
Less: Amortization of unrealized losses on investment securities transferred to HTM	2,319		620		1,699
Net change in fair value of investment securities	(35,535)		(9,502)		(26,033)
Net change in fair value of derivatives:
Net unrealized gains arising during the period	$	4,360	$	1,166	$	3,194
Net change in fair value of derivatives	4,360		1,166		3,194
SERPs:
Amortization of net actuarial loss	20		5		15
Amortization of net transition obligation	5		2		3
SERPs	25		7		18
Other comprehensive loss	$	(31,150)	$	(8,329)	$	(22,821)

(dollars in thousands)	Before Tax		Tax Effect		Net of Tax
Nine Months Ended September 30, 2023
Net change in fair value of investment securities:
Net unrealized losses on AFS investment securities arising during the period	$	(17,675)	$	(4,696)	$	(12,979)
Less: Reclassification adjustments from AOCI realized in net income	135		36		99
Less: Amortization of unrealized losses on investment securities transferred to HTM	5,670		1,506		4,164
Net change in fair value of investment securities	(11,870)		(3,154)		(8,716)
Net change in fair value of derivatives:
Net unrealized gains arising during the period	4,329		1,139		3,190
Net change in fair value of derivatives	4,329		1,139		3,190
SERPs:
Amortization of net actuarial gain	(58)		(17)		(41)
Amortization of net transition obligation	6		2		4
SERPs	(52)		(15)		(37)
Other comprehensive loss	$	(7,593)	$	(2,030)	$	(5,563)

(dollars in thousands)	Before Tax		Tax Effect		Net of Tax
Nine Months Ended September 30, 2022
Net change in fair value of investment securities:
Net unrealized losses on AFS investment securities arising during the period	$	(207,930)	$	(55,598)	$	(152,332)
Less: Amortization of unrealized losses on investment securities transferred to HTM	4,295		1,148		3,147
Net change in fair value of investment securities	(203,635)		(54,450)		(149,185)
Net change in fair value of derivatives:
Net unrealized gains arising during the period	$	7,240	$	1,936	$	5,304
Net change in fair value of derivatives	7,240		1,936		5,304
Defined benefit retirement plan and SERPs: [1]
Net actuarial losses arising during the period	(952)		(255)		(697)
Amortization of net actuarial loss	284		76		208
Amortization of net transition obligation	14		4		10
Settlement	4,884		1,817		3,067
Defined benefit retirement plan and SERPs	4,230		1,642		2,588
Other comprehensive loss	$	(192,165)	$	(50,872)	$	(141,293)

[1] During the second quarter of 2022, the Company settled all obligations related to its defined benefit retirement plan. As a result, the AOCI balance in the defined benefit retirement plan and SERPs column subsequent to June 30, 2022 relates entirely to the SERPs.

Schedule of changes in each component of AOCI, net of tax

The following tables present the changes in each component of accumulated other comprehensive income (loss), net of tax, for the periods presented:

(dollars in thousands)	Investment Securities		Derivatives		SERPs		AOCI
Three Months Ended September 30, 2023
Balance at beginning of period	$	(141,252)	$	5,522	$	455	$	(135,275)
Other comprehensive income (loss) before reclassifications	(18,160)		2,313		—		(15,847)
Reclassification adjustments from AOCI	1,587		—		(12)		1,575
Total other comprehensive income (loss)	(16,573)		2,313		(12)		(14,272)
Balance at end of period	$	(157,825)	$	7,835	$	443	$	(149,547)

(dollars in thousands)	Investment Securities		Derivatives		SERPs		AOCI
Three Months Ended September 30, 2022
Balance at beginning of period	$	(126,818)	$	2,110	$	(1,724)	$	(126,432)
Other comprehensive income (loss) before reclassifications	(27,732)		3,194		—		(24,538)
Reclassification adjustments from AOCI	1,699		—		18		1,717
Total other comprehensive income (loss)	(26,033)		3,194		18		(22,821)
Balance at end of period	$	(152,851)	$	5,304	$	(1,706)	$	(149,253)

(dollars in thousands)	Investment Securities		Derivatives		SERPs		AOCI
Nine Months Ended September 30, 2023
Balance at beginning of period	$	(149,109)	$	4,645	$	480	$	(143,984)
Other comprehensive income (loss) before reclassifications	(12,979)		3,190		—		(9,789)
Reclassification adjustments from AOCI	4,263		—		(37)		4,226
Total other comprehensive income (loss)	(8,716)		3,190		(37)		(5,563)
Balance at end of period	$	(157,825)	$	7,835	$	443	$	(149,547)

(dollars in thousands)	Investment Securities		Derivatives		Defined Benefit Retirement Plan and SERPs [1]		AOCI
Nine Months Ended September 30, 2022
Balance at beginning of period	$	(3,666)	$	—	$	(4,294)	$	(7,960)
Other comprehensive income (loss) before reclassifications	(152,332)		5,304		(697)		(147,725)
Reclassification adjustments from AOCI	3,147		—		3,285		6,432
Total other comprehensive income (loss)	(149,185)		5,304		2,588		(141,293)
Balance at end of period	$	(152,851)	$	5,304	$	(1,706)	$	(149,253)
[1] During the second quarter of 2022, the Company settled all obligations related to its defined benefit retirement plan. As a result, the AOCI balance in the defined benefit retirement plan and SERPs column subsequent to June 30, 2022 relates entirely to the SERPs.

Schedule of amounts reclassified out of each component of AOCI

The following tables present the amounts reclassified out of each component of AOCI for the periods presented:

	Amount Reclassified from AOCI				Affected Line Item in the Statement Where Net Income is Presented
(dollars in thousands)	Three Months Ended September 30,
Details about AOCI Components	2023		2022
Sale of AFS investment securities:
Realized loss on sale of AFS investment securities	$	(135)	$	—	Net loss on sale of investment securities
Tax effect	36		—		Income tax benefit
Net of tax	(99)		—
Amortization of unrealized losses on investment securities transferred to HTM:
Amortization	(2,026)		(2,319)		Interest and dividends on investment securities
Tax effect	538		620		Income tax benefit
Net of tax	(1,488)		(1,699)
SERPs:
Amortization of net actuarial gain (loss)	19		(20)		Other operating expense - other
Amortization of net transition obligation	(2)		(5)		Other operating expense - other
Total before tax	17		(25)
Tax effect	(5)		7		Income tax (expense) benefit
Net of tax	12		(18)
Total reclassification adjustments from AOCI for the period, net of tax	$	(1,575)	$	(1,717)

	Amount Reclassified from AOCI				Affected Line Item in the Statement Where Net Income is Presented
(dollars in thousands)	Nine Months Ended September 30,
Details about AOCI Components	2023		2022
Sale of AFS investment securities:
Realized loss on sale of AFS investment securities	$	(135)	$	—	Net loss on sale of investment securities
Tax effect	36		—		Income tax benefit
Net of tax	$	(99)	$	—
Amortization of unrealized losses on investment securities transferred to HTM:
Amortization	(5,670)		(4,295)		Interest and dividends on investment securities
Tax effect	1,506		1,148		Income tax benefit
Net of tax	(4,164)		(3,147)
Defined benefit retirement plan and SERPs: [1]
Amortization of net actuarial gain (loss)	58		(284)		Other operating expense - other
Amortization of net transition obligation	(6)		(14)		Other operating expense - other
Settlement	—		(4,884)		Other operating expense - other
Total before tax	52		(5,182)
Tax effect	(15)		1,897		Income tax (expense) benefit
Net of tax	37		(3,285)
Total reclassification adjustments from AOCI for the period, net of tax	$	(4,226)	$	(6,432)

[1] During the second quarter of 2022, the Company settled all obligations related to its defined benefit retirement plan. As a result, the AOCI balance in the defined benefit retirement plan and SERPs column subsequent to June 30, 2022 relates entirely to the SERPs.