INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES

6 Months Ended

Jun. 30, 2015

INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES

INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES

7. INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES

The components of the Company’s investments in unconsolidated subsidiaries were as follows:

	June 30,		December 31,
	2015		2014
	(Dollars in thousands)

Investments in low income housing tax credit partnerships	$	3,216	$	3,781
Trust preferred investments	2,792		2,792
Investments in affiliates	596		557
Other	116		116
	$	6,720	$	7,246

Investments in low income housing tax credit (“LIHTC”) partnerships are accounted for using the cost method. For the three and six months ended June 30, 2015, the Company recognized amortization expense in pre-tax income of $0.3 million and $0.6 million, respectively. For the three and six months ended June 30, 2014, the Company recognized amortization expense in pre-tax income of $0.4 million and $0.8 million, respectively.

For the three and six months ended June 30, 2015, the Company recognized $0.3 million and $0.6 million in tax credits associated with our investments in LIHTC partnerships, respectively. For the three months ended June 30, 2014, the Company recognized $0.9 million in tax credits associated with our investments in LIHTC partnerships. The Company did not recognize any tax credits associated with our investments in LIHTC partnerships during the three months ended March 31, 2014.