| Summary of Components of Other Comprehensive Income |
The table below provides a summary of the components of other comprehensive income (“OCI”) for the periods presented.
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Three Months Ended June 30, |
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2025 |
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2024 |
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Before-tax |
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Tax effect |
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After-tax |
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Before-tax |
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Tax effect |
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After-tax |
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(Dollars in thousands) |
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Investment securities: |
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Net change in fair value recorded in accumulated OCI |
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$ |
24,704 |
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$ |
(9,099 |
) |
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$ |
15,605 |
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$ |
(2,292 |
) |
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$ |
678 |
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$ |
(1,614 |
) |
Amortization of net unrealized losses on securities
transferred from available-for-sale to held-to-maturity |
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172 |
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(59 |
) |
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113 |
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175 |
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(52 |
) |
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123 |
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Derivatives designated as hedging instruments: |
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Fair value hedges: |
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Net change in fair value recorded in accumulated OCI |
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(8,633 |
) |
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2,508 |
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(6,125 |
) |
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2,835 |
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(947 |
) |
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1,888 |
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Cash flow hedges: |
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Net change in fair value recorded in accumulated OCI |
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(598 |
) |
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173 |
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(425 |
) |
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795 |
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(235 |
) |
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|
560 |
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Net change |
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$ |
15,645 |
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$ |
(6,477 |
) |
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$ |
9,168 |
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$ |
1,513 |
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$ |
(556 |
) |
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$ |
957 |
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Six Months Ended June 30, |
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2025 |
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2024 |
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Before-tax |
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Tax effect |
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After-tax |
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Before-tax |
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Tax effect |
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After-tax |
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(Dollars in thousands) |
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Investment securities: |
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Net change in fair value recorded in accumulated OCI |
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$ |
83,982 |
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$ |
(26,623 |
) |
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$ |
57,359 |
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$ |
(38,148 |
) |
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$ |
11,278 |
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$ |
(26,870 |
) |
Amortization of net unrealized losses on securities
transferred from available-for-sale to held-to-maturity |
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309 |
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(100 |
) |
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209 |
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337 |
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(100 |
) |
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237 |
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Derivatives designated as hedging instruments: |
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Fair value hedges: |
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Net change in fair value recorded in accumulated OCI |
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(16,953 |
) |
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4,968 |
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(11,985 |
) |
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20,667 |
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(5,909 |
) |
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14,758 |
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Cash flow hedges: |
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Net change in fair value recorded in accumulated OCI |
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(2,339 |
) |
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|
688 |
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(1,651 |
) |
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1,584 |
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(468 |
) |
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1,116 |
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Net change |
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$ |
64,999 |
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$ |
(21,067 |
) |
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$ |
43,932 |
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$ |
(15,560 |
) |
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$ |
4,801 |
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$ |
(10,759 |
) |
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