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Affordable Housing Partnership, Tax Credit and Community Reinvestment Act Investments, Net (Tables)
 3 Months Ended
Mar. 31, 2024
Investments in Qualified Affordable Housing Partnerships, Tax Credit and Other Investments, Net and Variable Interest Entities [Abstract]  
Schedule of Affordable Housing, Tax Credit and CRA Investments, Net and Related Unfunded Commitments
The following table presents the investments and unfunded commitments of the Company’s affordable housing partnership, tax credit, and CRA investments, net as of March 31, 2024 and December 31, 2023:
March 31, 2024December 31, 2023
($ in thousands)Assets
Liabilities - Unfunded Commitments (1)
Assets
Liabilities - Unfunded Commitments (1)
PAM:
Affordable housing partnership investments
$432,073 $255,217 $419,785 $251,746 
Tax credit and CRA investments
228,901 117,022 — — 
Equity method of accounting and other:
Tax credits and CRA investments
272,213 147,147 485,251 298,990 
Total$933,187 $519,386 $905,036 $550,736 
(1)Included in Accrued expenses and other liabilities on the Consolidated Balance Sheet.
Schedule of Additional Information related to the Affordable Housing, Tax Credit and CRA Investments, Net
The following table presents additional information related to the investments in affordable housing partnership, tax credit and CRA investments for the three months ended March 31, 2024 and 2023:
Three Months Ended March 31,
($ in thousands)20242023
Tax credits and benefits(1):
PAM:
Affordable housing partnership investments
$18,419 $16,094 
Tax credit and CRA investments
27,149 — 
Equity method of accounting and other:
Tax credit and CRA investments12,594 14,498 
Total tax credits and benefits
$58,162 $30,592 
Amortization:
PAM:
Affordable housing partnership investments (2)
$13,869 $12,666 
Tax credit and CRA investments (3)
23,301 — 
Equity method of accounting and other:
Tax credit and CRA investments (4)
13,207 10,110 
Total amortization
$50,377 $22,776 
(1)Included in Income tax expense on the Consolidated Statement of Income for the three months ended March 31, 2024 and 2023.
(2)Amortization related to investments in qualified affordable housing partnerships under PAM was recorded in Income tax expense on the Consolidated Statement of Income for the three months ended March 31, 2024 and 2023.
(3)Due to the adoption of ASU 2023-02 on January 1, 2024, amortization related to qualifying tax credit investments under PAM was recorded in Income tax expense on the Consolidated Statement of Income for the three months ended March 31, 2024.
(4)Amortization related to tax credit and CRA investments was recognized in Amortization of tax credit and CRA investments as part of noninterest expense on the Consolidated Statement Income for the three months ended March 31, 2024 and 2023.