XML 38 R27.htm IDEA: XBRL DOCUMENT
v3.25.3

Note 19 - Tax Credit Investments | 9 Months Ended
--- | ---
Sep. 30, 2025
Notes to Financial Statements |
Affordable Housing Program [Text Block] | Tax Credit Investments: The Company invests in qualified affordable housing projects, as well as solar investment tax credits. At September 30, 2025 and December 31, 2024, the balance of the investment for qualified affordable housing projects was $26.5 million and $22.0 million, respectively. Total unfunded commitments related to the investments in qualified affordable housing projects totaled $16.5 million and $13.9 million at September 30, 2025 and December 31, 2024. The Company expects to complete the fulfillment of these commitments during the year ending 2040. In the third quarters ended September 30, 2025 and September 30, 2024, the Company recognized amortization expense of $539,000 and $513,000, respectively, from its investment in qualified affordable housing projects. In the nine month periods ended September 30, 2025 and September 30, 2024, the Company recognized amortization expense of $1.5 million and $1.3 million, respectively, from its investment in qualified affordable housing projects. This amortization expense was included within income tax expense on the consolidated statements of income. Additionally, during the third quarters ended September 30, 2025 and September 30, 2024, the Company recognized tax credits and other benefits from its investment in affordable housing tax credits of $666,000 and $602,000, respectively. In the nine month periods ended September 30, 2025 and September 30, 2024, the Company recognized tax credits and other benefits from its investment in affordable housing tax credits of $1.8 million and $1.6 million, respectively. The qualified affordable housing investment credits are included in the net changes in other assets and liabilities in the cash flows from operating activities in the consolidated statements of cash flows. During the nine month periods ended September 30, 2025 and September 30, 2024, the Company did not incur impairment losses related to its investment in affordable housing tax credits. In the first quarter of 2025, the Company began investing in solar investment tax credits and at September 30, 2025 the balance of the investment was $4.8 million. Total unfunded commitments related to the investments in solar investment tax credits totaled $3.9 million at September 30, 2025. The Company expects this investment to be fully funded during 2025. There were no investments in solar investment tax credits at December 31, 2024. In the third quarter ended September 30, 2025, the Company recognized amortization expense of $2.4 million from its investment in solar investment tax credits. In the nine month period ended September 30, 2025, the Company recognized amortization expense of $4.8 million from its investment in solar investment tax credits. This amortization expense was included within income tax expense on the consolidated statements of income. The Company did not have a similar investment in 2024. Additionally, during the third quarter ended September 30, 2025, the Company recognized tax credits and other benefits from its investment in solar investment tax credits of $2.6 million. In the nine month period ended September 30, 2025, the Company recognized tax credits and other benefits from its investment in solar investment tax credits of $5.2 million. The solar investment tax credits are included in the net changes in other assets and liabilities in the cash flows from operating activities in the consolidated statements of cash flows. During the nine month period ended September 30, 2025, the Company did not incur impairment losses related to its investment in solar investment tax credits. The Company did not have a similar investment in 2024.

X
- Definition The entire disclosure for Affordable Housing Program (AHP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/942/tableOfContent + Details
Name: | us-gaap_AffordableHousingProgramTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration