XML 26 R16.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Affordable Housing Tax Credit Limited Partnership | 6 Months Ended
--- | ---
Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract] |
Affordable Housing Tax Credit Limited Partnership | AFFORDABLE HOUSING TAX CREDIT LIMITED PARTNERSHIP INVESTMENTS LCNB is a limited partner in multiple limited partnerships that sponsor affordable housing projects utilizing the Low Income Housing Tax Credit 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 investments and related unfunded commitments at June 30, 2024 and December 31, 2023 (in thousands):
| June 30, 2024 |  | December 31, 2023
Affordable housing tax credit investment | $ | 18,950 |  |  | 16,950 |
Less amortization | 5,366 |  |  | 4,626 |
Net affordable housing tax credit investment | $ | 13,584 |  |  | 12,324 |
Unfunded commitment | $ | 5,466 |  |  | 4,527 |
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 condensed balance sheets. LCNB expects to fund the unfunded commitment over 9.0 years. The following table presents other information relating to LCNB's affordable housing tax credit investments for the three and six months ended June 30, 2024 and 2023 (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Tax credits and other tax benefits recognized | $ | 445 |  |  | 434 |  |  | $ | 888 |  |  | 864 |
Tax credit amortization expense included in provision for income taxes | 368 |  |  | 361 |  |  | 740 |  |  | 718 |

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_EquityMethodInvestmentsAndJointVenturesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration