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LOW INCOME HOUSING TAX CREDITS
6 Months Ended
Jun. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]  
LOW INCOME HOUSING TAX CREDITS
LOW INCOME HOUSING TAX CREDITS
The Company has invested in one housing equity fund at June 30, 2015 and December 31, 2014. The general purpose of this fund 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 Company accounts for this investment under the proportional amortization method and at June 30, 2015 and December 31, 2014, the investment in this fund, recorded in other assets on the consolidated balance sheet, was $472,238 and $500,000, respectively, with $27,762 of tax credits and other tax benefits related to these investments recognized on the consolidated statements of income for the periods ending June 30, 2015 and 2014. Total projected tax credits to be received for 2015 are $23,037, which is based on the most recent quarterly estimates received from the fund. Additional capital calls expected for the fund totals $494,500 at June 30, 2015 and December 31, 2014, and are included in other liabilities on the consolidated balance sheets.