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Variable Interest Entities
6 Months Ended
Jun. 30, 2022
Variable Interest Entity [Abstract]  
Variable Interest Entity (Text Block Disclosure]
NOTE 3: VARIABLE
 
INTEREST ENTITIES
Generally, a variable interest entity (“VIE”)
 
is a corporation, partnership, trust or other legal structure that does not have
equity investors with substantive or proportional voting rights or has equity investors
 
that do not provide sufficient financial
resources for the entity to support its activities.
 
At June 30, 2022, the Company did not have any consolidated VIEs to disclose but did
 
have one nonconsolidated VIE,
discussed below.
New Markets Tax
 
Credit Investment
The New Markets Tax Credit
 
(“NMTC”) program provides federal tax incentives to investors to make investments in
distressed communities and promotes economic improvement through the development
 
of successful businesses in these
communities.
 
The NMTC is available to investors over seven years and is subject to recapture if certain events occur
during such period.
 
At June 30, 2022 and December 31, 2021, respectively,
 
the Company had one such investment in the
amounts of $2.1 million and $2.2 million, respectively,
 
which was included in other assets in the consolidated balance
sheets.
 
The Company’s equity investment
 
meets the definition of a VIE. While the Company’s
 
investment exceeds 50% of
the outstanding equity interests, the Company does not consolidate the VIE because
 
it does not meet the characteristics of a
primary beneficiary since the Company lacks the power to direct the activities of
 
the VIE.
(Dollars in thousands)
Maximum
Loss Exposure
Asset Recognized
Classification
Type:
New Markets Tax Credit investment
$
2,142
$
2,142
Other assets