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Tax Credit Equity Investments | 9 Months Ended
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Sep. 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 nine months ended September 30, 2025 and 2024. The following table presents the balances included in the Consolidated Balance Sheets as of the dates presented:
(dollars in thousands) | September 30, 2025 |  | December 31, 2024 |  |
Tax credit equity investment(1) |  | $ | 36,971 |  |  |  | $ | 40,577 |  |  |  |
Unfunded commitments(2) |  | 3,751 |  |  |  | 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 September 30, |  |  |
(dollars in thousands) | 2025 |  | 2024 |  |  |
Tax credits and other tax benefits recognized |  | $ | 1,570 |  |  |  | $ | 1,686 |  |  |  |
Amortization |  | 1,144 |  |  |  | 1,404 |  |  |  |
Net benefit included in income tax expense |  | $ | 426 |  |  |  | $ | 282 |  |  |  |
| Nine Months Ended September 30, |  |  |
(dollars in thousands) | 2025 |  | 2024 |  |
Tax credits and other tax benefits recognized |  | $ | 4,346 |  |  |  | $ | 3,498 |  |  |  |
Amortization |  | 3,606 |  |  |  | 2,939 |  |  |  |
Net benefit included in income tax expense |  | $ | 740 |  |  |  | $ | 559 |  |  |  |

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- Definition The entire disclosure of investment that generates income tax credit and other income tax benefit under tax credit program elected to be accounted for using proportional amortization method. Includes, but is not limited to, investment under tax credit program not meeting condition for accounting under proportional amortization method. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-1A + Details
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