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Other Assets
6 Months Ended
Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Other Assets

Note 7 — Other Assets

A summary of accrued interest receivable and other assets was as follows:

 

 

June 30, 2024

 

 

December 31, 2023

 

 

 

(In Thousands)

 

Accrued interest receivable

 

$

13,639

 

 

$

13,275

 

Net deferred tax asset

 

 

8,910

 

 

 

9,508

 

Investment in historic development entities

 

 

4,866

 

 

 

2,393

 

Investment in low-income housing development entities

 

 

35,554

 

 

 

33,303

 

Investment in limited partnerships

 

 

15,890

 

 

 

15,027

 

Prepaid expenses

 

 

5,567

 

 

 

4,269

 

Other assets

 

 

13,446

 

 

 

13,283

 

Total accrued interest receivable and other assets

 

$

97,872

 

 

$

91,058

 

 

For the six months ended June 30, 2024 and 2023, the Corporation amortized tax credit investments of $2.6 million and $870,000 respectively, and recognized tax credits and other benefits for the six months ended June 30, 2024 and 2023 of $3.3 million and $1.2 million, respectively, within the income tax expense line on the unaudited Consolidated Statements of Income.