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LOW-INCOME HOUSING TAX CREDIT INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2024

LOW-INCOME HOUSING TAX CREDIT INVESTMENTS

Schedule of low-income housing investments and obligations

(in thousands)

December 31, 2024

December 31, 2023

Unfunded

Unfunded

Investment

Accounting Method

Investments

Obligations (1)

Investments

Obligations

Low-income housing tax credit - Gross

Proportional amortization

$

72,415

$

54,797

$

57,596

$

58,619

Life-to-date amortization

(21,899)

NA

(15,904)

NA

Low-income housing tax credit - Net

$

50,516

$

54,797

$

41,692

$

58,619

(1) All obligations will be paid by the Company by December 31, 2038.

Schedule of amortization expense and tax credits recognized for low-income housing tax investments


			Years Ended December 31,

(in thousands)				2024			2023			2022

Amortization expense			$	5,995		$	5,313		$	4,410
Tax credits recognized				(9,440)			(7,666)			(6,155)