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Tax Credit Investments | 3 Months Ended
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Mar. 31, 2024
Tax Credit Investments |
Tax Credit Investments | NOTE 14 Tax Credit Investments The Company invests in qualified affordable housing projects for the purpose of community reinvestment and obtaining tax credits. The Company’s tax credit investments are limited to existing lending relationships with well-known developers and projects within the Company’s market area. The following table presents a summary of the Company’s investments in qualified affordable housing project tax credits as of March 31, 2024 and December 31, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | March 31, 2024 | ​ | December 31, 2023
(dollars in thousands) |  | ​ | ​ | Investment | ​ | Unfunded Commitment | ​ | Investment | ​ | Unfunded Commitment
Investment | ​ | Accounting Method | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Low income housing tax credit |  | Proportional amortization | ​ | $ | 17,906 |  | $ | 7,466 |  | $ | 17,906 |  | $ | 12,347
Total |  | ​ | ​ | $ | 17,906 |  | $ | 7,466 |  | $ | 17,906 |  | $ | 12,347
​ The following table presents a summary of the amortization expense and tax benefit recognized for the Company’s qualified affordable housing projects for the three months ended March 31, 2024 and 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended March 31, | ​
​ | ​ | 2024 | ​ | 2023 | ​
​ | ​ | Amortization | ​ | Tax Benefit | ​ | Amortization | ​ | Tax Benefit | ​
(dollars in thousands) | ​ | Expense (1) |  | Recognized (2) |  | Expense (1) |  | Recognized (2) |
Low income housing tax credit | ​ | $ | 432 |  | $ | (381) |  | $ | 360 |  | $ | (227) |
Total | ​ | $ | 432 | ​ | $ | (381) | ​ | $ | 360 | ​ | $ | (227) | ​
(1) | The amortization expense for low income housing tax credits were included in the income tax expense.
(2) | All of the tax benefits recognized were included in income tax expense.

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- Definition The entire disclosure for tax credit investments. + References No definition available. + Details
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