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LOW INCOME HOUSING PROJECT INVESTMENTS Low Income Housing Project Investments
 12 Months Ended
Dec. 31, 2016
Low Income Housing Project Investments [Abstract]  
Investments in Low Income Housing Projects [Text Block]
LOW INCOME HOUSING PROJECT INVESTMENTS
The Company has invested in low income housing projects that generate Low Income Housing Tax Credits (“LIHTC”) which provide the Company with tax credits and operating loss tax benefits over a period of approximately 15 years. None of the original investment is expected to be repaid.
The following table presents certain information related to the Company's investments in low income housing projects as of December 31:
 
2016
 
2015
 
2014
 
(Dollars in thousands)
Original investment value
$
47,379

 
$
42,199

 
$
40,541

Current recorded investment
$
39,606

 
$
38,151

 
$
38,943

Unfunded liability obligation
$
12,161

 
$
14,607

 
$
28,004

Tax credits and benefits earned during the year
$
5,366

 
$
3,632

 
$
1,683

Amortization of investments during the year
$
3,725

 
$
2,450

 
$
1,089

Net income tax benefit recognized during the year
$
1,641

 
$
1,182

 
$
594