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VARIABLE INTEREST ENTITIES (Tables)

9 Months Ended

Sep. 30, 2021

Variable Interest Entity [Line Items]

Summary of Unconsolidated VIEs

The following table represents the carrying value of the associated unconsolidated assets and liabilities and the associated maximum loss exposure for alternative energy partnerships as of the dates indicated:

($ in thousands)						September 30, 2021						December 31, 2020
Cash						$	3,109					$	3,228
Equipment, net of depreciation						234,972						241,015
Other assets						8,715						7,470
Total unconsolidated assets						$	246,796					$	251,713
Total unconsolidated liabilities						$	6,230					$	6,357
Maximum loss exposure						$	25,196					$	27,977

Variable Interest Entity, Not Primary Beneficiary

Variable Interest Entity [Line Items]

Summary of Unconsolidated VIEs

The following table presents information regarding activity in our alternative energy partnerships for the periods indicated:

						Three Months Ended September 30,												Nine Months Ended September 30,
($ in thousands)						2021						2020						2021						2020
Fundings						$	—					$	—					$	—					$	3,631
Cash distribution from investment						657						611						1,765						1,612
Gain (loss) on investments in alternative energy partnerships						1,785						1,430						(1,016)						(308)
Income tax credits recognized						—						—						—						—
Tax expense (benefit) recognized from HLBV application						491						185						(280)						(111)

Variable Interest Entity, Not Primary Beneficiary | Affordable Housing Fund Investment

Variable Interest Entity [Line Items]

Summary of Unconsolidated VIEs

The following table presents information regarding balances in our qualified affordable housing partnerships for the periods indicated:

($ in thousands)						September 30, 2021						December 31, 2020
Ending balance(1)						$	40,095					$	43,209
Aggregate funding commitment						61,278						61,278
Total amount funded						48,718						42,991
Unfunded commitment						12,560						18,287
Maximum loss exposure						40,095						43,209

(1)Included in other assets in the accompanying Consolidated Statements of Financial Condition.

The following table presents information regarding activity in our qualified affordable housing partnerships for the periods indicated:

						Three Months Ended September 30,												Nine Months Ended September 30,
($ in thousands)						2021						2020						2021						2020
Fundings						$	3,563					$	1,602					$	5,727					$	15,473
Proportional amortization recognized						1,051						1,724						3,114						4,019
Income tax credits recognized						1,155						1,007						3,466						3,215

X

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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