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Tax Credit Investments (Tables)

9 Months Ended

Sep. 30, 2021

Income Tax Disclosure [Abstract]

Summary Of Affordable Housing Tax Credit Investments And Other Credit Investments

The following table presents the balances of the Corporation's TCIs and related unfunded commitments:


									September 30,						December 31,
									2021						2020
Included in other assets:									(in thousands)
Affordable housing tax credit investment, net									$	167,434					$	152,203
Other tax credit investments, net									47,645						59,224
			Total TCIs, net						$	215,079					$	211,427
Included in other liabilities:
Unfunded affordable housing tax credit commitments									$	54,420					$	31,562
Other tax credit liabilities									38,845						49,491
			Total unfunded tax credit commitments and liabilities						$	93,265					$	81,053

The following table presents other information relating to the Corporation's TCIs:


									Three months ended September 30												Nine months ended September 30
									2021						2020						2021						2020
Components of income taxes:									(in thousands)
Affordable housing tax credits and other tax benefits									$	(6,515)					$	(7,290)					$	(19,546)					$	(21,678)
Other tax credit investment credits and tax benefits									(723)						(1,240)						(2,168)						(3,122)
Amortization of affordable housing investments, net of tax benefit									4,344						5,024						13,033						15,071
Deferred tax expense									159						275						479						691
			Total net reduction in income tax expense						$	(2,735)					$	(3,231)					$	(8,202)					$	(9,038)
Amortization of TCIs:
Affordable housing tax credits investment									$	1,002					$	1,021					$	3,006					$	3,065
Other tax credit investment amortization									544						673						1,634						1,529
			Total amortization of TCIs						$	1,546					$	1,694					$	4,640					$	4,594