XML 32 R19.htm IDEA: XBRL DOCUMENT
v3.22.4

AFFORDABLE HOUSING TAX CREDIT LIMITED PARTNERSHIP | 12 Months Ended
--- | ---
Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract] |
AFFORDABLE HOUSING TAX CREDIT LIMITED PARTNERSHIP | AFFORDABLE HOUSING TAX CREDIT LIMITED PARTNERSHIPS LCNB is a limited partner in limited partnerships that sponsor affordable housing projects utilizing the Low Income Housing Tax Credit (LIHTC) pursuant to Section 42 of the Internal Revenue Code. The purpose of the investments is to achieve a satisfactory return on capital, to facilitate the sale of additional affordable housing product offerings, and to assist in achieving goals associated with the Community Reinvestment Act. The primary activities of the limited partnerships include the identification, development, and operation of multi-family housing that is leased to qualifying residential tenants. The following table presents the balances of LCNB's affordable housing tax credit investment and related unfunded commitment at December 31 (in thousands):
| 2022 |  | 2021
Affordable housing tax credit investment | $ | 16,950 |  |  | 14,950 |
Less amortization | 3,268 |  |  | 2,126 |
Net affordable housing tax credit investment | $ | 13,682 |  |  | 12,824 |
Unfunded commitment | $ | 7,185 |  |  | 8,655 |
The net affordable housing tax credit investment is included in other assets and the unfunded commitment is included in accrued interest and other liabilities in the Consolidated Balance Sheets. LCNB expects to fund the unfunded commitment over ten years. The following table presents other information relating to LCNB's affordable housing tax credit investment for the years indicated (in thousands):
| Year ended December 31,
| 2022 |  | 2021 |  | 2020
Tax credits and other tax benefits recognized | $ | 1,394 |  |  | 995 |  |  | 612 |
Tax credit amortization expense included in provision for income taxes | 1,142 |  |  | 806 |  |  | 510 |

X
- Definition The entire disclosure for Affordable Housing Program (AHP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -URI https://asc.fasb.org/topic&trid=2209208 + 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_EquityMethodInvestmentsAndJointVenturesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration