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INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES
 6 Months Ended
Jun. 30, 2025
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract]  
INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES
5. INVESTMENTS IN UNCONSOLIDATED ENTITIES

The following table presents the components of the Company's investments in unconsolidated entities as of the dates presented:

(dollars in thousands)June 30, 2025December 31, 2024
Investments in low-income housing tax credit partnerships, net of amortization$45,663 $48,730 
Investments in common securities of statutory trusts1,547 1,547 
Investments in affiliates110 90 
Other2,050 2,050 
Total$49,370 $52,417 

The Company had commitments to fund low-income housing tax credit ("LIHTC") partnerships totaling $63.5 million and $63.5 million as of June 30, 2025 and December 31, 2024, respectively. Unfunded commitments related to LIHTC partnerships totaled $18.5 million and $19.1 million as of June 30, 2025 and December 31, 2024, respectively, and were included in other liabilities in the Company's consolidated balance sheets. The investments were accounted for under the proportional amortization method and were included in investments in unconsolidated entities in the Company's consolidated balance sheets.

The following table presents the expected payments for the unfunded commitments of LIHTC and other partnerships as of June 30, 2025, for the remainder of fiscal year 2025, the next five succeeding fiscal years, and all years thereafter:

(dollars in thousands)
Year Ending December 31, LIHTCOtherTotal
2025 (remainder)$10,528 $703 $11,231 
20267,564 — 7,564 
202736 — 36 
202830 — 30 
202937 — 37 
203030 — 30 
Thereafter305 — 305 
Total unfunded commitments$18,530 $703 $19,233 

The following table presents amortization and tax credits recognized associated with our investments in LIHTC partnerships for the periods presented:

Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)2025202420252024
Proportional amortization method:
Amortization expense recognized in income tax expense$1,533 $674 $3,067 $1,360 
Tax credits recognized in income tax expense1,794 801 3,588 1,601 
In 2021, the Company committed $2.0 million to the JAM FINTOP Banktech Fund, L.P. The Company does not have the ability to exercise significant influence over the JAM FINTOP Banktech Fund, L.P. and the investment does not have a readily determinable fair value. As a result, the Company determined that the cost method of accounting for the investment was appropriate. The Company had $0.7 million and $0.8 million in unfunded commitments related to the investment as of June 30, 2025 and December 31, 2024, respectively, which was included in other liabilities in the Company's consolidated balance sheets.