Accumulated Other Comprehensive Income (“AOCL/AOCI”) (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Components of AOCL

The components of AOCL/AOCI are summarized as follows using applicable blended average federal and state tax rates for each period:

	December 31, 2022						December 31, 2021
(in thousands)	Before Tax Amount		Tax Effect		Net of Tax Amount		Before Tax Amount		Tax Effect		Net of Tax Amount
Net unrealized holding (losses) gains on debt securities available for sale	$	(111,957)	$	28,605	$	(83,352)	$	15,775	$	(3,788)	$	11,987
Net unrealized holding gains on interest rate swaps designated as cash flow hedges	3,659		(942)		$	2,717	4,275		(1,045)		3,230
Total (AOCL) AOCI	$	(108,298)	$	27,663	$	(80,635)	$	20,050	$	(4,833)	$	15,217

Components of Other Comprehensive Loss

The components of other comprehensive (loss) income for the three-year period ended December 31, 2022 is summarized as follows:

	December 31, 2022
(in thousands)	Before Tax Amount		Tax Effect		Net of Tax Amount
Net unrealized holding losses on debt securities available for sale:
Change in fair value arising during the period	$	(130,165)	$	33,014	$	(97,151)
Reclassification adjustment for net losses included in net income	2,433		(621)		1,812
	(127,732)		32,393		(95,339)
Net unrealized holding losses on interest rate swaps designated as cash flow hedges:
Change in fair value arising during the period	369		(149)		220
Reclassification adjustment for net interest income included in net income	(985)		252		(733)
	(616)		103		(513)
Total other comprehensive loss	$	(128,348)	$	32,496	$	(95,852)

	December 31, 2021
(in thousands)	Before Tax Amount		Tax Effect		Net of Tax Amount
Net unrealized holding losses on debt securities available for sale:
Change in fair value arising during the period	$	(17,264)	$	4,304	$	(12,960)
Reclassification adjustment for net gains included in net income	(4,266)		1,028		(3,238)
	(21,530)		5,332		(16,198)
Net unrealized holding losses on interest rate swaps designated as cash flow hedges:
Change in fair value arising during the period	178		(41)		137
Reclassification adjustment for net interest income included in net income	(508)		122		(386)
	(330)		81		(249)
Total other comprehensive loss	$	(21,860)	$	5,413	$	(16,447)

	December 31, 2020
(in thousands)	Before Tax Amount		Tax Effect		Net of Tax Amount
Net unrealized holding gains on debt securities available for sale:
Change in fair value arising during the period	$	52,866	$	(12,925)	$	39,941
Reclassification adjustment for net gains included in net income	(25,124)		6,143		(18,981)
	27,742		(6,782)		20,960
Net unrealized holding losses on interest rate swaps designated as cash flow hedges:
Change in fair value arising during the period	(2,289)		559		(1,730)
Reclassification adjustment for net interest income included in net income	(1,059)		259		(800)
	(3,348)		818		(2,530)
Total other comprehensive income	$	24,394	$	(5,964)	$	18,430