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Qualified Affordable Housing Project Investments
12 Months Ended
Dec. 31, 2019
Federal Home Loan Banks [Abstract]  
Qualified Affordable Housing Project Investments

23.     QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS

The Company invests in qualified affordable housing projects. At December 31, 2019 and 2018, the balance of the investment for qualified affordable housing projects totaled $4,104,000 and $5,905,000, respectively. These balances are reflected in the other assets line on the consolidated balance sheet. Unfunded commitments related to these investments in qualified affordable housing projects totaled $1,251,000 and $1,958,000 at December 31, 2019 and 2018, respectively.

During the years ended December 31, 2019, 2018 and 2017, the Company recognized amortization expense on these investments of $1,801,000,  $2,535,000, and $961,000, respectively which was included within pretax income on the consolidated statements of income.

Additionally, during the years ended December 31, 2019 and 2018, the Company recognized tax credits and other benefits from its investment in affordable housing tax credits of $538,000 and $632,000, respectively. The Company had no impairment losses during the years ended December 31, 2019 and 2018.