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OTHER COMPREHENSIVE INCOME (Tables)
9 Months Ended
Sep. 30, 2024
OTHER COMPREHENSIVE INCOME  
Summary of OCI components and related tax effects

    

Three Months Ended

    

Nine Months Ended

September 30, 

September 30, 

(in thousands)

2024

    

2023

    

2024

    

2023

Available-for-Sale Debt Securities:

Unrealized gain (loss) on AFS debt securities

$

9,503

$

1,017

$

12,195

$

1,839

Net gains (losses)

 

9,503

 

1,017

 

12,195

 

1,839

Income tax benefit (expense) related to items of other comprehensive income

 

(2,376)

 

(250)

 

(3,050)

 

(461)

Net of tax

 

7,127

 

767

$

9,145

$

1,378

Derivatives:

Change in fair value of derivatives

 

(3,134)

 

 

(3,580)

 

Reclassification amount for net derivative losses realized in income

 

(289)

 

 

(380)

 

Net gains (losses)

 

(3,423)

 

 

(3,960)

 

Tax effect

 

856

 

 

990

 

Net of tax

 

(2,567)

 

 

(2,970)

 

Total other comprehensive (loss) income components, net of tax

$

4,560

$

767

$

6,175

$

1,378

Summary of the AOCI balances, net of tax

    

    

2024

    

(in thousands)

December 31, 2023

Change

September 30, 2024

Unrealized gain (loss) on AFS debt securities

$

(20,408)

$

9,145

$

(11,263)

Unrealized gain (loss) on derivatives

 

 

(2,970)

 

(2,970)

Total unrealized gain (loss)

$

(20,408)

$

6,175

$

(14,233)

    

    

2023

    

(in thousands)

December 31, 2022

Change

September 30, 2023

Unrealized gain (loss) on AFS debt securities

$

(31,979)

$

1,378

$

(30,601)

Unrealized gain (loss) on derivatives

Total unrealized gain (loss)

$

(31,979)

$

1,378

$

(30,601)