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Qualified Affordable Housing And Historic Rehabilitation Projects | 6 Months Ended
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Jun. 30, 2019
Investments in Affordable Housing Projects [Abstract] |
QUALIFIED AFFORDABLE HOUSING AND HISTORIC REHABILITATION PROJECTS | QUALIFIED AFFORDABLE HOUSING AND HISTORIC REHABILITATION PROJECTS As part of our responsibilities under the Community Reinvestment Act and due to their favorable federal income tax benefits, we invest in Low Income Housing and Historic Rehabilitation projects. As a limited partner in these operating partnerships, we receive tax credits and tax deductions for losses incurred by the underlying properties. We use the cost method to account for these partnerships. Our total investment in qualified affordable housing projects was $4.6 million at June 30, 2019 and $6.0 million at December 31, 2018. Amortization expense, included in other noninterest expense in the Consolidated Statements of Comprehensive Income, was $0.7 million and $1.4 million for the three and six months ended June 30, 2019 and June 30, 2018. The amortization expense was offset by tax credits of $0.7 million and $1.5 million for the three and six months ended June 30, 2019 and $0.8 million and $1.5 million for the three and six months ended June 30, 2018 as a reduction to our federal tax provision. Our total investment in historic rehabilitation was $0.3 million at June 30, 2019 and December 31, 2018. Federal tax credits of $0.2 million and $0.5 million were recognized as a reduction to our federal tax provision for the three and six months ended June 30, 2019. No federal historic rehabilitation tax credits were earned in 2018.

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