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Tax Credit Equity Investments
 6 Months Ended
Jun. 30, 2025
Equity Method Investments and Joint Ventures [Abstract]  
TAX CREDIT EQUITY INVESTMENTS TAX CREDIT EQUITY INVESTMENTS
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 tax credit, or LIHTC, and historic tax credit, or HTC, partnerships. As a limited partner in these operating partnerships, we receive tax credits and tax deductions for losses incurred by the underlying properties. No impairment losses were recognized for the three and six months ended June 30, 2025 and June 30, 2024.
The following table presents the balances included in the Consolidated Balance Sheets as of the dates presented:
(dollars in thousands)
June 30, 2025December 31, 2024
Tax credit equity investment(1)
$38,115 $40,577 
Unfunded commitments(2)
4,241 5,887 
(1) Included in other assets in the Consolidated Balance Sheets
(2) Included in other liabilities in the Consolidated Balance Sheets
The following table summarizes the amortization expense and tax credits included in income tax expense in the Condensed Consolidated Statements of Comprehensive Income for the periods presented:
Three Months Ended June 30,
(dollars in thousands)
20252024
Tax credits and other tax benefits recognized$1,388 $906 
Amortization1,231 767 
Net benefit included in income tax expense$157 $139 
Six Months Ended June 30,
(dollars in thousands)
20252024
Tax credits and other tax benefits recognized$2,776 $1,812 
Amortization2,462 1,535 
Net benefit included in income tax expense$314 $277