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ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)
12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive (Loss) Income

The following are changes in accumulated other comprehensive loss by component, net of tax, for the year ended December 31, 2024:

 

 

Cash Flow Hedges

 

 

Available for Sale Securities

 

 

Held to Maturity Securities

 

 

Total

 

Beginning balance

 

$

 

 

$

(18,358

)

 

$

(6,964

)

 

$

(25,322

)

Unrealized losses arising during the period

 

 

 

 

 

(1,572

)

 

 

(534

)

 

 

(2,106

)

Tax effect

 

 

 

 

 

330

 

 

 

 

 

 

330

 

Net current period other comprehensive loss

 

 

 

 

 

(1,242

)

 

 

(534

)

 

 

(1,776

)

Ending balance

 

$

 

 

$

(19,600

)

 

$

(7,498

)

 

$

(27,098

)

The following are changes in accumulated other comprehensive loss by component, net of tax, for the year ended December 31, 2023:

 

 

Cash Flow Hedges

 

 

Available for Sale Securities

 

 

Held to Maturity Securities

 

 

Total

 

Beginning balance

 

$

 

 

$

(18,400

)

 

$

(5,860

)

 

$

(24,260

)

Unrealized gains (losses) arising during the period

 

 

 

 

 

282

 

 

 

(1,104

)

 

 

(822

)

Tax effect

 

 

 

 

 

(59

)

 

 

 

 

 

(59

)

Amounts reclassified from accumulated other comprehensive loss

 

 

 

 

 

(181

)

 

 

 

 

 

(181

)

Net current period other comprehensive income (loss)

 

 

 

 

 

42

 

 

 

(1,104

)

 

 

(1,062

)

Ending balance

 

$

 

 

$

(18,358

)

 

$

(6,964

)

 

$

(25,322

)

The following are changes in accumulated other comprehensive loss by component, net of tax, for the year ended December 31, 2022:

 

 

Cash Flow Hedges

 

 

Available for Sale Securities

 

 

Held to Maturity Securities

 

 

Total

 

Beginning balance

 

$

188

 

 

$

(2,744

)

 

$

8,861

 

 

$

6,305

 

Transfer from AFS to HTM

 

 

 

 

 

13,186

 

 

 

(13,186

)

 

 

 

Unrealized gains (losses) arising during the period

 

 

497

 

 

 

(33,175

)

 

 

(1,535

)

 

 

(34,213

)

Tax effect

 

 

 

 

 

4,197

 

 

 

 

 

 

4,197

 

Amounts reclassified from accumulated other comprehensive loss

 

 

(685

)

 

 

136

 

 

 

 

 

 

(549

)

Net current period other comprehensive loss

 

 

(188

)

 

 

(15,656

)

 

 

(14,721

)

 

 

(30,565

)

Ending balance

 

$

 

 

$

(18,400

)

 

$

(5,860

)

 

$

(24,260

)

Reclassification out of Accumulated Other Comprehensive Loss

The following are amounts reclassified out of each component of accumulated other comprehensive loss for the year ended December 31, 2023:

Details about Accumulated Other Comprehensive Loss Components

 

Amount Reclassified From
Accumulated Other
Comprehensive Loss

 

 

Affected Line Item in the Statement Where Net
Earnings is Presented

Unrealized loss on available for sale securities

 

$

229

 

 

Net realized loss on sale of securities available for sale

Tax effect

 

 

(48

)

 

Tax expense

Net of tax

 

$

181

 

 

 

 

The following are amounts reclassified out of each component of accumulated other comprehensive loss for the year ended December 31, 2022:

Details about Accumulated Other Comprehensive Loss Components

 

Amount Reclassified From
Accumulated Other
Comprehensive Loss

 

 

Affected Line Item in the
Statement Where Net
Earnings is Presented

Unrealized gain on available for sale securities

 

$

(172

)

 

Net realized gain on sale of securities available for sale

Tax effect

 

 

36

 

 

Tax expense

Net of tax

 

$

(136

)

 

 

Gains on cash flow hedges

 

 

867

 

 

Other income

Tax effect

 

 

(182

)

 

Tax expense

Net of tax

 

$

685

 

 

 

Total amounts reclassified out of accumulated other comprehensive loss

 

$

549