Investments in Qualified Affordable Housing Partnerships, Tax Credit and Other Investments, Net and Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2023

Investments in Qualified Affordable Housing Partnerships, Net [Abstract]

Schedule of Affordable Housing and Tax Credits and Other Investments and Unfunded Commitments

The following table presents the investments and unfunded commitments of the Company’s qualified affordable housing partnerships, tax credit, and other investments, net as of December 31, 2023 and 2022:

	December 31,
	2023				2022
($ in thousands)	Assets		Liabilities - Unfunded Commitments (1)		Assets		Liabilities - Unfunded Commitments (1)
Investments in qualified affordable housing partnerships, net	$	419,785	$	251,746	$	413,253	$	266,654
Investments in tax credit and other investments, net	485,251		298,990		350,003		185,797
Total	$	905,036	$	550,736	$	763,256	$	452,451

(1)Included in Accrued expenses and other liabilities on the Consolidated Balance Sheet.

Schedule of Additional Information related to the Investments in Affordable Housing and Tax Credit and Other Investments

The following table presents additional information related to the investments in qualified affordable housing partnerships, tax credit and other investments for the years ended December 31, 2023, 2022 and 2021:

	Year Ended December 31,
($ in thousands)	2023		2022		2021
Investments in qualified housing partnerships, net
Tax credits and other tax benefits recognized	$	60,939	$	52,132	$	50,643
Amortization expense included in income tax expense	$	43,041	$	38,759	$	33,248
Investments in tax credit and other investments, net
Amortization of tax credit and other investments (1)	$	120,299	$	113,358	$	122,457
Unrealized gains (losses) on equity securities with readily determinable values	$	255	$	(2,958)	$	(746)

(1)Includes net impairment recoveries of $1 million, $469 thousand and $1 million for the years ended December 31, 2023, 2022 and 2021, respectively. The activity was primarily related to historic and/or energy tax credits.

Schedule of Unfunded Commitments Related to Investments in Qualified Affordable Housing Partnerships, Tax Credit and Other Investments, Estimated to be Funded

As of December 31, 2023, the Company’s unfunded commitments related to investments in qualified affordable housing partnerships, tax credit and other investments, net are estimated to be funded as follows:

($ in thousands)	Amount
2024	$	339,628
2025	178,171
2026	17,882
2027	2,527
2028	2,115
Thereafter	10,413
Total	$	550,736