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Low Income Housing Tax Credits
9 Months Ended
Sep. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]  
Low Income Housing Tax Credits
Low Income Housing Tax Credits

The Corporation has invested in five separate housing equity funds at September 30, 2017 and December 31, 2016. The general purpose of these funds is to encourage and assist participants in investing in low-income residential rental properties located in the Commonwealth of Virginia, develop and implement strategies to maintain projects as low-income housing, deliver Federal Low Income Housing Credits to investors, allocate tax losses and other possible tax benefits to investors, and to preserve and protect project assets. The investments in these funds were recorded as other assets on the consolidated balance sheets and were $10.6 million and $664 thousand at September 30, 2017 and December 31, 2016, respectively. Additional capital calls expected for the funds totaled $6.15 million at September 30, 2017, and are included in other liabilities on the consolidated balance sheets. The expected terms of these investments and the related tax benefits run through 2033.