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Accumulated Other Comprehensive Income (Loss) ("AOCIL")
 6 Months Ended
Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss) ("AOCIL") [Abstract]  
Accumulated Other Comprehensive Income (Loss) ("AOCIL")
14.
Accumulated Other Comprehensive Income (Loss) (“AOCIL”)

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
    
Total
  
   
(In thousands)
  
For the three months ended June 30, 2022
                        
Balances at beginning of period
  
$
(48,616
)
   $ -    
$
(5,798
)
  
$
(54,414
)
Other comprehensive loss before reclassifications
    
(10,447
)
     (19,870 )    
-
      
(30,317
)
Amounts reclassified from AOCIL
    
(272
)
     -      
-
      
(272
)
Net current period other comprehensive loss
    
(10,719
)
     (19,870 )    
-
      
(30,589
)
Balances at end of period
  
$
(59,335
)
   $ (19,870 )  
$
(5,798
)
  
$
(85,003
)
                                 
2021
                                
Balances at beginning of period
  
$
10,136
     $ -    
$
(5,798
)
  
$
4,338
  
Other comprehensive income before reclassifications
    
4,078
       -      
-
      
4,078
  
Amounts reclassified from AOCIL
    
-
       -      
-
      
-
  
Net current period other comprehensive income
   
4,078
       -      
-
      
4,078
  
Balances at end of period
  
$
14,214
     $ -    
$
(5,798
)
  
$
8,416
  
                                 
For the six months ended June 30, 2022
                                
Balances at beginning of period
  
$
6,299
     $ -    
$
(5,798
)
  
$
501
  
Other comprehensive loss before reclassifications
    
(65,417
)
     (19,870 )    
-
      
(85,287
)
Amounts reclassified from AOCIL
    
(217
)
     -      
-
      
(217
)
Net current period other comprehensive loss
    
(65,634
)
     (19,870 )    
-
      
(85,504
)
Balances at end of period
  
$
(59,335
)
   $ (19,870 )  
$
(5,798
)
  
$
(85,003
)
                                 
2021
                                
Balances at beginning of period
  
$
15,822
     $ -    
$
(5,798
)
  
$
10,024
  
Other comprehensive loss before reclassifications
    
(2,727
)
     -      
-
      
(2,727
)
Amounts reclassified from AOCIL
    
1,119
       -      
-
      
1,119
  
Net current period other comprehensive loss
   
(1,608
)
     -      
-
      
(1,608
)
Balances at end of period
  
$
14,214
     $ -    
$
(5,798
)
  
$
8,416
  

(1)
Represents the remaining unrealized loss to be accreted on securities that were transferred from AFS to HTM on April 1, 2022.

The disproportionate tax effects from securities AFS arose due to tax effects of other comprehensive income (“OCI”) in the presence of a valuation allowance against our deferred tax assets and a pretax loss from operations.  Generally, the amount of income tax expense or benefit allocated to operations is determined without regard to the tax effects of other categories of income or loss, such as OCI. However, an exception to the general rule is provided when, in the presence of a valuation allowance against deferred tax assets, there is a pretax loss from operations and pretax income from other categories in the current period.  In such instances, income from other categories must offset the current loss from operations, the tax benefit of such offset being reflected in operations. Release of material disproportionate tax effects from other comprehensive income to earnings is done by the portfolio method whereby the effects will remain in AOCIL as long as we carry a more than inconsequential portfolio of securities AFS.

A summary of reclassifications out of each component of AOCIL for the three months ended June 30 follows:
AOCIL Component
  
Amount
Reclassified
From
AOCIL
  
 Affected Line Item in Condensed
 Consolidated Statements of Operations
 
  
(In thousands)
  
 
2022
      
    
Unrealized gains (losses) on securities available for sale
      
    
 
  
$
(345
)
 Net gains (losses) on securities available for sale
 
    
(73
)
 Income tax expense
 
  
$
(272
)
 Reclassifications, net of tax
 
        
        
2021
        
     
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 six months ended June 30 follows:
AOCIL Component
  
Amount
Reclassified
From
AOCIL
  
 Affected Line Item in Condensed
 Consolidated Statements of Operations
 
  
(In thousands)
  
 
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
 
        
        
2021
        
     
Unrealized gains (losses) on securities available for sale
        
     
 
  
$
1,416
  
 Net gains (losses) on securities available for sale
 
    
297
  
 Income tax expense
 
  
$
1,119
  
 Reclassifications, net of tax