Tax Equity Investments (Tables)

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Estimates for Unfunded Affordable Housing Commitments

As of June 30, 2024, the Company’s unfunded commitments associated with tax equity investments, which comprise of investments in affordable housing partnerships, were estimated to be paid as follows:

(Dollars in thousands)	Amount
Year Ending December 31,
2024	$	6,022
2025	12,053
2026	8,516
2027	786
2028	463
Thereafter	2,498
Total unfunded commitments	$	30,338

The following table presents income tax credits and other income tax benefits, as well as amortization expense, associated with investments in qualified affordable housing partnerships where the proportional amortization method of accounting has been applied for the periods indicated.

	Three Months Ended				Six Months Ended
	June 30,		June 30,		June 30,		June 30,
(Dollars in thousands)	2024		2023		2024		2023
Tax credit and other tax benefits recognized (1)	$	4,217	$	3,781	$	8,434	$	7,557
Amortization of investments (1)	3,475		3,054		$	6,950	$	6,104

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(1) Amounts for income tax credits and other income tax benefits, as well as amortization of investments, are included in income tax expense in the consolidated statements of income, and net change in accrued interest receivable and other assets on the consolidated statements of cash flows, for the periods presented above.