Low Income Housing Tax Credits and Other Tax Credit Investments (Tables)

3 Months Ended

Mar. 31, 2024

Investments in Affordable Housing Projects [Abstract]

Schedule of the Company's Investments in Low Income Housing Projects Accounted for Using the Proportional Amortization Method

The following table presents the Company’s investments in low income housing projects accounted for using the proportional amortization method for the periods indicated:

	As of March 31, 2024		As of December 31, 2023
	(In thousands)
Current recorded investment included in other assets	$	225,565	$	221,190
Commitments to fund qualified affordable housing projects included in recorded investment noted above	146,354		149,207

The following table presents additional information related to the Company’s investments in LIHTC projects for the periods indicated:

	For the Three Months Ended March 31,
	2024		2023
	(In thousands)
Tax credits and benefits recognized	$	5,351	$	3,262
Amortization expense included in income tax (benefit) expense	4,588		2,766