TAX CREDIT INVESTMENTS

6 Months Ended

Jun. 30, 2026

Equity [Abstract]

TAX CREDIT INVESTMENTS

TAX CREDIT INVESTMENTS

The Company periodically invests in low-income housing tax credit (LIHTC) investments. As of June 30, 2026 and December 31, 2025, total unfunded commitments related to LIHTC investments totaled $1.8 million and $2.4 million, respectively. As of June 30, 2026 and December 31, 2025, the total balance of all LIHTC investments was $4.3 million and $4.2 million, respectively. 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 June 30, 2026 and 2025, the Company recognized amortization expense of $0.2 million. During the six months ended June 30, 2026 and 2025, the Company recognized amortization expense of $0.4 million.

During the three months ended June 30, 2026 and 2025, the Company recognized $0.2 million of tax credits from the LIHTC investments. During the six months ended June 30, 2026 and 2025, the Company recognized $0.4 million of tax credits from the LIHTC investments. Additionally, during the three months ended June 30, 2026 and 2025, the Company recognized $37 thousand and $0.1 million of other benefits from the LIHTC investments, respectively. During the six months ended June 30, 2026 and 2025, the Company recognized $0.1 million of other benefits from the LIHTC investments, respectively.

During the three and six months ended June 30, 2026 and 2025, the Company did not incur any impairment losses.