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Qualified Affordable Housing Project Investments
9 Months Ended
Sep. 30, 2024
Federal Home Loan Banks [Abstract]  
Qualified Affordable Housing Project Investments

(15) Qualified Affordable Housing Project Investments

The Company invests in certain qualified affordable housing projects. At September 30, 2024 and December 31, 2023, the balance of the Company's investments in qualified affordable housing projects was $14,188 and $15,122, respectively. These balances are reflected in the Other assets line on the Consolidated Balance Sheet. The unfunded commitments related to the investments in qualified affordable housing projects totaled $4,161 and $5,722 at September 30, 2024 and December 31, 2023, respectively. These balances are reflected in the Accrued expenses and other liabilities line on the Consolidated Balance Sheet.

During the three months ended September 30, 2024 and 2023, the Company recognized amortization expense with respect to its investments in qualified affordable housing projects of $312 and $252, respectively, offset by tax credits and other benefits from its investments in affordable housing tax credits of $461 and $428, respectively. During the nine months ended September 30, 2024 and 2023, the Company recognized amortization expense with respect to its investments in qualified affordable housing projects of $935

and $760, respectively, offset by tax credits and other benefits from its in affordable housing tax credits of $1,382 and $1,285, respectively. During the three and nine months ended September 30, 2024 and 2023, the Company did not incur any impairment losses related to its investments in qualified affordable housing projects.