Qualified Affordable Housing Project Investments	12 Months Ended
Dec. 31, 2021
Federal Home Loan Banks [Abstract]
Qualified Affordable Housing Project Investments	NOTE 25. 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 December 31, 2021 and 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 $11 thousand and $446 thousand at December 31, 2021 and 2020. 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 twelve months ended December 31, 2021 and 2020, the Company recognized amortization expense of $229 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 $349 thousand based on the most recent quarterly estimates received from the funds. Total tax credits and other tax benefits recognized during 2021 and 2020 were $385 thousand and $384 thousand, respectively.

Qualified Affordable Housing Project Investments

12 Months Ended

Dec. 31, 2021

Qualified Affordable Housing Project Investments

NOTE 25. 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 December 31, 2021 and 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 $11 thousand and $446 thousand at December 31, 2021 and 2020. 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 twelve months ended December 31, 2021 and 2020, the Company recognized amortization expense of $229 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 $349 thousand based on the most recent quarterly estimates received from the funds. Total tax credits and other tax benefits recognized during 2021 and 2020 were $385 thousand and $384 thousand, respectively.