The Company has investments in various limited partnerships that sponsor affordable housing projects and federal historic projects. The purpose of the investments is to earn an adequate return of capital through the receipt of tax credits and to assist the Company in achieving goals associated with the Community Reinvestment Act. These investments are included in other assets on the Consolidated Balance Sheet, with any unfunded commitments included in other liabilities. The investments are amortized as a component of income tax expense.

The following table summarizes the Company’s tax credit investments as of December 31, 2024 and December 31, 2023.


	December 31, 2024				December 31, 2023
Investment Type	Investment		Unfunded Commitment		Investment		Unfunded Commitment
Low Income Housing Tax Credit (LIHTC)	$	20,139	$	10,767	$	15,578	$	10,539
Historic Tax Credit (HTC)		1,953		1,573		2,025		1,573
Total	$	22,092	$	12,340	$	17,603	$	12,112

The following table summarizes the amortization expense and tax credits recognized for the Company’s tax credit investments for the years ended December 31, 2024 and 2023, respectively:


	Year Ended December 31,
Amortization expense	2024		2023
LIHTC	$	1,439	$	877
HTC		72		72
Total	$	1,511	$	949

Tax credits recognized:
LIHTC	$	1,447	$	891
HTC		88		88
Total	$	1,535	$	979