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INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES | 12 Months Ended
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Dec. 31, 2021
Investments in and Advances to Affiliates, Schedule of Investments [Abstract] |
INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES | 7. INVESTMENTS IN UNCONSOLIDATED ENTITIES Investments in unconsolidated entities as of December 31, 2021 and 2020 consisted of the following components:
| December 31,
(Dollars in thousands) | 2021 |  | 2020
Investments in low income housing tax credit partnerships | $ | 25,916 |  |  | $ | 28,090 |
Investments in common securities of statutory trusts | 1,547 |  |  | 1,547 |
Investments in affiliates | 162 |  |  | 277 |
Other | 2,054 |  |  | 54 |
Total | $ | 29,679 |  |  | $ | 29,968 |
During the second quarter of 2021, the Company invested $2.0 million in the JAM FINTOP Banktech Fund, L.P., an investment fund designed to help develop and accelerate technology adoption at community banks across the United States. The investment is accounted for under the cost method and is included in investment in unconsolidated entities. As of December 31, 2021, the Company had an unfunded commitments of $1.7 million related to the investment, which is expected to be paid in 2022 and is recorded in other liabilities in the Company's consolidated balance sheets. The Company invests in low income housing tax credit ("LIHTC") partnerships. As of December 31, 2021 and 2020, the Company had $14.3 million and $17.2 million, respectively, in unfunded commitments related to the LIHTC partnerships, which is recorded in other liabilities in the Company's consolidated balance sheets. The expected payments for the unfunded commitments related to the LIHTC partnerships as of December 31, 2021 are as follows:
(Dollars in thousands) |
Year Ending December 31: |
2022 | $ | 14,190 |
2023 | 10 |
2024 | 26 |
2025 | 6 |
2026 | 6 |
Thereafter | 37 |
Total commitments | $ | 14,275 |
The following table presents amortization expense and tax credits recognized associated with our investments in LIHTC partnerships for the periods presented:
| Year Ended December 31,
(Dollars in thousands) | 2021 |  | 2020 |  | 2019
Proportional amortization method: |  |  |  |  |
Amortization expense recognized in income tax expense | $ | 2,174 |  |  | $ | 1,391 |  |  | $ | 681 |
Federal and state tax credits recognized in income tax expense | 2,373 |  |  | 1,599 |  |  | 803 |

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- Definition The entire disclosure for the information summarizing investments in and advances to majority-owned subsidiaries, other controlled companies, and other affiliates. It reflects specified information about ownership, financial results from, and financial position in such entities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 + Details
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