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Accumulated Other Comprehensive Income (Loss) ("AOCIL") (Tables)
9 Months Ended
Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
A summary of changes in AOCIL follows:
Unrealized
Gains
(Losses) on
Securities
AFS
Unrealized
Losses on
Securities
Transferred
to Securities
HTM (1)
Dispropor-
tionate
Tax Effects
from
Securities
AFS
Unrealized Losses on Derivative InstrumentsTotal
(In thousands)
For the three months ended September 30,
2023
Balances at beginning of period$(57,695)$(16,811)$(5,798)$(206)$(80,510)
Other comprehensive income (loss) before reclassifications(12,130)696 — (417)(11,851)
Amounts reclassified from AOCIL— — — 57 57 
Net current period other comprehensive income (loss)(12,130)696 — (360)(11,794)
Balances at end of period$(69,825)$(16,115)$(5,798)$(566)$(92,304)
2022
Balances at beginning of period$(59,335)$(19,870)$(5,798)$— $(85,003)
Other comprehensive loss before reclassifications(12,895)853 — — (12,042)
Amounts reclassified from AOCIL— — — — — 
Net current period other comprehensive loss(12,895)853 — — (12,042)
Balances at end of period$(72,230)$(19,017)$(5,798)$— $(97,045)
For the nine months ended September 30,
2023
Balances at beginning of period$(68,742)$(18,223)$(5,798)$— $(92,763)
Other comprehensive income (loss) before reclassifications(1,258)2,108 — (743)107 
Amounts reclassified from AOCIL175 — — 177 352 
Net current period other comprehensive income (loss)(1,083)2,108 — (566)459 
Balances at end of period$(69,825)$(16,115)$(5,798)$(566)$(92,304)
2022
Balances at beginning of period$6,299 $— $(5,798)$— $501 
Other comprehensive loss before reclassifications(78,312)(19,017)— — (97,329)
Amounts reclassified from AOCIL(217)— — — (217)
Net current period other comprehensive loss (78,529)(19,017)— — (97,546)
Balances at end of period$(72,230)$(19,017)$(5,798)$— $(97,045)
(1)Represents the remaining unrealized loss to be accreted on securities that were transferred from AFS to HTM on April 1, 2022.
Reclassifications Out of Each Component of AOCIL
A summary of reclassifications out of each component of AOCIL for the three months ended September 30 follows:
AOCIL ComponentAmount
Reclassified
From
AOCIL
Affected Line Item in Condensed
Consolidated Statements of Operations
(In thousands)
2023
Unrealized gains (losses) on securities available for sale
$— Net gains (losses) on securities available for sale
— Income tax expense
$— Reclassifications, net of tax
Unrealized losses on derivative instruments
$72 Interest income
15 Income tax expense
$57 Reclassifications, net of tax
$(57)Total reclassifications for the period, net of tax
2022
Unrealized gains (losses) on securities available for sale
$— Net gains (losses) on securities available for sale
— Income tax expense
$— Reclassifications, net of tax
A summary of reclassifications out of each component of AOCIL for the nine months ended September 30 follows:
AOCIL ComponentAmount
Reclassified
From
AOCIL
Affected Line Item in Condensed
Consolidated Statements of Operations
(In thousands)
2023
Unrealized gains (losses) on securities available for sale
$(222)Net gains (losses) on securities available for sale
(47)Income tax expense
$(175)Reclassifications, net of tax
Unrealized losses on derivative instruments
$224 Interest income
47 Income tax expense
$177 Reclassifications, net of tax
$(352)Total reclassifications for the period, net of tax
2022
Unrealized gains (losses) on securities available for sale
$(275)Net gains (losses) on securities available for sale
(58)Income tax expense
$(217)Reclassifications, net of tax