INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES

12 Months Ended

Dec. 31, 2021

Investments in and Advances to Affiliates, Schedule of Investments [Abstract]

INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES

7. INVESTMENTS IN UNCONSOLIDATED ENTITIES

Investments in unconsolidated entities as of December 31, 2021 and 2020 consisted of the following components:

	December 31,
(Dollars in thousands)	2021		2020
Investments in low income housing tax credit partnerships	$	25,916	$	28,090
Investments in common securities of statutory trusts	1,547		1,547
Investments in affiliates	162		277
Other	2,054		54
Total	$	29,679	$	29,968

During the second quarter of 2021, the Company invested $2.0 million in the JAM FINTOP Banktech Fund, L.P., an investment fund designed to help develop and accelerate technology adoption at community banks across the United States. The investment is accounted for under the cost method and is included in investment in unconsolidated entities. As of December 31, 2021, the Company had an unfunded commitments of $1.7 million related to the investment, which is expected to be paid in 2022 and is recorded in other liabilities in the Company's consolidated balance sheets.

The Company invests in low income housing tax credit ("LIHTC") partnerships. As of December 31, 2021 and 2020, the Company had $14.3 million and $17.2 million, respectively, in unfunded commitments related to the LIHTC partnerships, which is recorded in other liabilities in the Company's consolidated balance sheets. The expected payments for the unfunded commitments related to the LIHTC partnerships as of December 31, 2021 are as follows:

(Dollars in thousands)
Year Ending December 31:
2022	$	14,190
2023	10
2024	26
2025	6
2026	6
Thereafter	37
Total commitments	$	14,275

The following table presents amortization expense and tax credits recognized associated with our investments in LIHTC partnerships for the periods presented:

	Year Ended December 31,
(Dollars in thousands)	2021		2020		2019
Proportional amortization method:
Amortization expense recognized in income tax expense	$	2,174	$	1,391	$	681
Federal and state tax credits recognized in income tax expense	2,373		1,599		803