		December 31,
	Estimated Useful Lives	2018			2017
		(Dollars in thousands)
Land		$	35,434		$	34,833
Buildings	10 to 40 years		181,182			145,051
Furniture, fixtures and equipment	3 to 15 years		75,138			69,915
Accumulated depreciation			(117,392	)		(115,711	)
Premises and equipment, net		$	174,362		$	134,088

We invest in affordable housing projects that qualify for the low income housing tax credit (LIHTC), which is designed to promote private development of low income housing. These investments generate a return primarily through realization of federal tax credits, and also through a tax deduction generated by operating losses of the investments. The investments are amortized through tax expense using the proportional amortization method as related tax credits are utilized. The Company is periodically required to provide additional contributions at the discretion of the project sponsors. Although in some cases the Company’s investment may exceed 50% of the equity interest in an entity, the Company does not consolidate these structures as variable interest entities due to the project sponsor’s ability to manage the projects, which is indicative of power in them.

Total LIHTC investments were $18.5 million and $16.9 million at December 31, 2018 and 2017, respectively and are included in other assets on the balance sheet. The Company recognized tax credits and other tax benefits of $5.4 million, $4.4 million and $4.2 million in 2018, 2017 and 2016, respectively and amortization expense of $4.4 million, $3.5 million and $2.9 million in 2018, 2017 and 2016, respectively resulting from LIHTC investments. Additional contributions are committed during the investment periods through the year 2032. Unfunded commitments to these investments as of December 31, 2018 totaled $17.3 million.