XML 38 R29.htm IDEA: XBRL DOCUMENT v3.23.2
Affordable Housing Projects Tax Credit Partnerships (Tables)
6 Months Ended
Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]  
Expected Payments for Unfunded Affordable Housing Commitments

As of June 30, 2023, the expected payments for unfunded affordable housing commitments were as follows:

 

(dollars in thousands)

 

Amount

 

2023

 

$

22,653

 

2024

 

 

24,731

 

2025

 

 

24,115

 

2026

 

 

156

 

2027

 

 

133

 

Thereafter

 

 

12,721

 

Total Unfunded Commitments

 

$

84,509

 

Schedule of Tax Credits and Other Tax Benefits Recognized and Amortization Expense Related to Affordable Housing

The following table presents tax credits and other tax benefits recognized and amortization expense related to affordable housing for the three and six months ended June 30, 2023, and June 30, 2022.

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

(dollars in thousands)

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Effective Yield Method

 

 

 

 

 

 

 

 

 

 

 

 

Tax Credits and Other Tax Benefits Recognized

 

$

1,457

 

 

$

1,528

 

 

$

2,915

 

 

$

3,066

 

Amortization Expense in Provision for Income Taxes

 

 

1,333

 

 

 

1,296

 

 

 

2,666

 

 

 

2,593

 

Proportional Amortization Method

 

 

 

 

 

 

 

 

 

 

 

 

Tax Credits and Other Tax Benefits Recognized

 

$

5,438

 

 

$

3,794

 

 

$

10,876

 

 

$

7,579

 

Amortization Expense in Provision for Income Taxes

 

 

4,713

 

 

 

3,265

 

 

 

9,426

 

 

 

6,529