XML 31 R21.htm IDEA: XBRL DOCUMENT
v3.21.2

Qualified Affordable Housing Project Investments (Notes) | 9 Months Ended
--- | ---
Sep. 30, 2021
Federal Home Loan Banks [Abstract] |
Qualified Affordable Housing Project Investments | NOTE 12. Qualified Affordable Housing Project Investments The Company invests in qualified affordable housing projects. The general purpose of these investments is to encourage and assist participants in investing in low-income residential rental properties located in the Commonwealth of Virginia, develop and implement strategies to maintain projects as low-income housing, provide tax credits and other tax benefits to investors, and to preserve and protect project assets. At September 30, 2021 and December 31, 2020, the balance of the investment for qualified affordable housing projects was $2.6 million and $2.8 million, respectively. These balances are reflected in Other assets on the Consolidated Balance Sheets. Total unfunded commitments related to the investments in qualified affordable housing projects totaled $23 thousand and $446 thousand at September 30, 2021 and December 31, 2020, respectively. These balances are reflected in Other liabilities on the Consolidated Balance Sheets. The Company expects to fulfill these commitments by December 31, 2023, in accordance with the terms of the individual agreements. During the three months ended September 30, 2021 and September 30, 2020, the Company recognized amortization expense of $57 thousand. During the nine months ended September 30, 2021 and 2020, the Company recognized amortization expense of $172 thousand. The amortization expense was included in Other operating expenses on the Consolidated Statements of Income. Total estimated credits to be received during 2021 are $363 thousand based on the most recent quarterly estimates received from the funds. Total tax credits and other tax benefits recognized during the nine months ended September 30, 2021 and 2020, were $272 thousand and $244 thousand, respectively.

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 http://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_FederalHomeLoanBanksAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration