XML 46 R36.htm IDEA: XBRL DOCUMENT
v3.24.1

Qualified Affordable Housing Project Investments | 12 Months Ended
--- | ---
Dec. 31, 2023
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, 2023 and 2022, the balance of the investments for qualified affordable housing projects was $2.0 million and $2.3 million, respectively. These balances are reflected in Other assets on the Consolidated Balance Sheets. There were no unfunded commitments related to the Company's qualified affordable housing projects at December 31, 2023 and 2022. During the twelve months ended December 31, 2023 and 2022, the Company recognized amortization expense of $265 thousand and $278 thousand. The amortization expense was included in Other operating expenses on the Consolidated Statements of Income. Total estimated credits to be received during 2023 are $354 thousand based on the most recent quarterly estimates received from the funds. Total tax credits and other tax benefits recognized during 2023 and 2022 were $389 thousand and $387 thousand, respectively.

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