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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 amortization5,366 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,
 2024202320242023
Tax credits and other tax benefits recognized$445 434 $888 864 
Tax credit amortization expense included in provision for income taxes368 361 740 718