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LOW-INCOME HOUSING TAX CREDIT INVESTMENT
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
LOW-INCOME HOUSING TAX CREDIT INVESTMENTS TAX CREDIT INVESTMENTS
The Company periodically invests in low-income housing tax credit (LIHTC) investments. As of September 30, 2025 and December 31, 2024, total unfunded commitments related to LIHTC investments totaled $2.6 million and $4.1 million, respectively. As of September 30, 2025 and December 31, 2024, the total balance of all LIHTC investments was $4.1 million and $3.1 million. These balances are reflected in the Other assets line item of the Condensed Consolidated Balance Sheets.
The Company uses the proportional amortization method to account for this investment. Amortization expense is included within the Income tax expense line item of the Condensed Consolidated Statements of Income. During the three months ended September 30, 2025 and 2024, the Company recognized amortization expense of $0.0 million and $0.2 million, respectively. During the nine months ended September 30, 2025 and 2024, the Company recognized amortization expense of $0.4 million and $0.6 million, respectively.
Additionally, during the three months ended September 30, 2025 and 2024, the Company recognized $0.2 million of tax credits and other benefits from the LIHTC investment. During the nine months ended September 30, 2025 and 2024, the Company recognized $0.6 million and $0.5 million, respectively, of tax credits and other benefits from the LIHTC investments. During the three and nine months ended September 30, 2025 and 2024, the Company did not incur any impairment losses.
During the three and nine months ended September 30, 2025, the Company purchased $0.0 million and $1.0 million, respectively, of solar investment tax credits (ITC) and recognized $0.0 million and $0.1 million, respectively, of related tax credits. The Company had not invested in solar investment tax credits prior to the second quarter of 2025. As of September 30, 2025, the Company had no unrecognized solar investment tax credits.