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

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Schedule of Components of AOCL/AOCI

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

	June 30, 2023						December 31, 2022
(in thousands)	Before Tax Amount		Tax Effect		Net of Tax Amount		Before Tax Amount		Tax Effect		Net of Tax Amount
Net unrealized holding losses on debt securities available for sale	$	(119,627)	$	30,469	$	(89,158)	$	(111,957)	$	28,605	$	(83,352)
Net unrealized holding gains on interest rate swaps designated as cash flow hedges	3,004		(772)		2,232		3,659		(942)		$	2,717
Total (AOCL) AOCI	$	(116,623)	$	29,697	$	(86,926)	$	(108,298)	$	27,663	$	(80,635)

Schedule of Components of Other Comprehensive Loss

The components of other comprehensive loss for the periods presented are summarized as follows:

	Three Months Ended June 30,
	2023						2022
(in thousands)	Before Tax Amount		Tax Effect		Net of Tax Amount		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	$	(18,011)	$	4,524	$	(13,487)	$	(35,546)	$	9,104	$	(26,442)
Reclassification adjustment for net losses included in net income	1,235		(314)		921		—		—		—
	(16,776)		4,210		(12,566)		(35,546)		9,104		(26,442)
Net unrealized holding losses (gains) on interest rate swaps designated as cash flow hedges:
Change in fair value arising during the period	370		(94)		276		73		(19)		54
Reclassification adjustment for net interest income included in net income	(425)		108		(317)		(198)		51		(147)
	(55)		14		(41)		(125)		32		(93)
Total other comprehensive loss	$	(16,831)	$	4,224	$	(12,607)	$	(35,671)	$	9,136	$	(26,535)

	Six Months Ended June 30,
	2023						2022
(in thousands)	Before Tax Amount		Tax Effect		Net of Tax Amount		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	$	(9,768)	$	2,398	$	(7,370)	$	(88,539)	$	22,460	$	(66,079)
Reclassification adjustment for net losses (gains) included in net income	2,098		(534)		1,564		(49)		13		(36)
	(7,670)		1,864		(5,806)		(88,588)		22,473		(66,115)
Net unrealized holding losses on interest rate swaps designated as cash flow hedges:
Change in fair value arising during the period	114		(26)		88		317		(139)		178
Reclassification adjustment for net interest income included in net income	(769)		196		(573)		(322)		83		(239)
	(655)		170		(485)		(5)		(56)		(61)
Total other comprehensive loss	$	(8,325)	$	2,034	$	(6,291)	$	(88,593)	$	22,417	$	(66,176)