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Other Assets
 12 Months Ended
Dec. 31, 2021
Other Assets [Abstract]  
Other Assets OTHER ASSETS
The following table presents the detail of our other assets as of the dates indicated:
December 31,
Other Assets20212020
(In thousands)
LIHTC investments $297,746 $213,034 
Cash surrender value of BOLI203,836 203,031 
Operating lease ROU assets, net (1)
123,225 119,787 
Interest receivable120,329 101,596 
Equity investments without readily determinable fair values62,975 34,304 
SBIC investments 46,861 32,327 
Taxes receivable36,011 59,565 
Equity investments with readily determinable fair values28,578 6,147 
Prepaid expenses27,632 22,999 
Equity warrants (2)
3,555 4,520 
Other receivables/assets133,244 63,016 
Total other assets$1,083,992 $860,326 
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(1)    See Note 10. Leases for further details regarding the operating lease ROU assets.
(2)    See Note 13. Derivatives for information regarding equity warrants.
    
The Company invests as a limited partner in LIHTC partnerships that operate qualified affordable housing projects and generate tax benefits for investors, including federal low income housing tax credits. The partnerships are deemed to be VIEs because they do not have sufficient equity investment at risk and are structured with non-substantive voting rights; however, we are not the primary beneficiary of the VIEs and do not consolidate them. We amortize the investment in proportion to the allocated tax benefits using the proportional amortization method of accounting and record such benefits net of investment amortization in income tax expense.
The Company has purchased life insurance policies on certain employees and has also acquired life insurance policies through acquisitions. BOLI is recorded at the amount that can be realized under the insurance contract, which is the cash surrender value. The increase in the cash surrender value each period and the receipt of death benefit proceeds in excess of the cash surrender value are recorded to "Noninterest income - other."
The Company's equity investments without readily determinable fair values include investments in privately held companies, limited partnerships, entities from which we issued trust preferred securities, CRA-related loan pool investments, and CRA-related equity investments. The CRA-related loan pool and equity investments primarily consist of investments in partnerships which provide affordable housing and participations in loan pools which provide low-cost loans to low and moderate income applicants. We measure our equity investments without readily determinable fair values using the measurement alternative. Carrying values of these investments are adjusted to fair value upon observable transactions for identical or similar investments of the same issuer. Unrealized and realized gains and losses on equity investments without readily determinable fair values are recorded in "Noninterest income - other" on the consolidated statements of earnings (loss).
The Company's equity investments with readily determinable fair values include investments in public companies, often from the exercise of warrants, and publicly-traded mutual funds. Unrealized and realized gains and losses on equity investments with readily determinable fair values are recorded in "Noninterest income - other" on the consolidated statements of earnings (loss).