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Investment in Qualified Affordable Housing | 3 Months Ended
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Mar. 31, 2025
Equity Method Investments and Joint Ventures [Abstract] |
Investment in Qualified Affordable Housing | Investment in Qualified Affordable Housing Park makes certain equity investments in various limited partnerships that sponsor affordable housing projects. The purposes of these investments are to achieve a satisfactory return on capital, help create affordable housing opportunities, and assist the Company to achieve its goals associated with the Community Reinvestment Act. The table below details the balances of Park’s affordable housing tax credit investments and related unfunded commitments at March 31, 2025 and December 31, 2024.
(in thousands) |  | March 31, 2025 | December 31, 2024
Affordable housing tax credit investments |  | $ | 63,802 |  | $ | 66,077 |
Unfunded commitments |  | 24,909 |  | 29,677 |
Commitments are funded when capital calls are made by the general partner. Park expects that the current commitments will be funded between the remainder of 2025 through 2039. Park recognized amortization expense of $2.3 million and $2.1 million for the three months ended March 31, 2025 and 2024, respectively, which were included within "Income taxes" in the consolidated condensed statements of income. Additionally, during the three months ended March 31, 2025 and 2024, Park recognized tax credits and other benefits from its affordable housing tax credit investments of $2.8 million and $2.6 million, respectively, which were included within "Income taxes" in the consolidated condensed statements of income.

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- Definition The entire disclosure for Affordable Housing Program (AHP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/942/tableOfContent + Details
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