Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS' EQUITY

v3.23.1
STOCKHOLDERS' EQUITY
3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
STOCKHOLDERS' EQUITY

9. STOCKHOLDERS’ EQUITY

Repurchase Programs

As of March 31, 2023, the Company does not have an active share repurchase program. The Company’s prior share repurchase plan expired on December 9, 2022.

Accumulated Other Comprehensive Income (Loss)

The change in AOCI for the three months ended March 31, 2023 is summarized as follows, net of tax (dollars in thousands):

    

    

Unrealized Gains

    

    

    

(Losses)

Unrealized

for AFS

Unrealized

 (Losses)

Securities

Change in Fair

Gains

on AFS

Transferred to

Value of Cash

(Losses) on

Securities

HTM

Flow Hedge

BOLI

Total

AOCI (loss) - December 31, 2022

$

(363,919)

$

17

$

(54,610)

$

226

$

(418,286)

Other comprehensive income (loss):

 

 

  

Other comprehensive income before reclassification

 

32,068

13,714

10

 

45,792

Amounts reclassified from AOCI into earnings

 

10,586

(3)

(22)

 

10,561

Net current period other comprehensive income (loss)

 

42,654

 

(3)

 

13,714

 

(12)

 

56,353

AOCI (loss) - March 31, 2023

$

(321,265)

$

14

$

(40,896)

$

214

$

(361,933)

The change in AOCI for the three months ended March 31, 2022 is summarized as follows, net of tax (dollars in thousands):

    

    

Unrealized Gain

    

    

    

(Losses)

Unrealized

for AFS

Unrealized

Gains (Losses)

Securities

Change in Fair

Gains

on AFS

Transferred to

Value of Cash

(Losses)

Securities

HTM

Flow Hedge

on BOLI

Total

AOCI - December 31, 2021

$

22,763

$

35

$

(1,567)

$

(2,596)

$

18,635

Other comprehensive (loss) income:

 

Other comprehensive loss before reclassification

 

(186,967)

(23,313)

(210,280)

Amounts reclassified from AOCI into earnings

 

(5)

167

162

Net current period other comprehensive (loss) income

 

(186,967)

 

(5)

 

(23,313)

 

167

 

(210,118)

AOCI (loss) - March 31, 2022

$

(164,204)

$

30

$

(24,880)

$

(2,429)

$

(191,483)