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Qualified Affordable Housing Project Investments
12 Months Ended
Dec. 31, 2023
Investments in Affordable Housing Projects [Abstract]  
Qualified Affordable Housing Project Investments

23.     QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS

The Company invests in qualified affordable housing projects. At December 31, 2023 and 2022, the balance of the investment for qualified affordable housing projects totaled $14.4 million and $10.1 million, 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 $10.5 million and $7.0 million at December 31, 2023 and 2022, respectively.

During the years ended December 31, 2023, 2021 and 2021, the Company recognized amortization expense on these investments of $0.7 million, $0.5 million, and $0.5 million, respectively which was included within the tax provision using the proportional amortization method on the consolidated statements of income.

Additionally, during the year ended December 31, 2023, the Company recognized $0.6 million in tax credits and other benefits from its investment in affordable housing tax credits and $0.5 million for each of the years ended December 31, 2022 and 2021. The Company had no impairment losses during the years ended December 31, 2023, 2022 and 2021.