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Low Income Housing Tax Credits and Other Tax Credit Investments (Tables)
 12 Months Ended
Dec. 31, 2024
Equity Method Investments and Joint Ventures [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 LIHTC projects using the proportional amortization method as of the dates indicated:
As of December 31,
20242023
(In thousands)
Current recorded investment included in other assets (1)
$220,845 $221,190 
Commitments to fund qualified affordable housing projects included in recorded investment noted above
89,801 149,207 
(1)Includes LIHTC investments acquired in connection with our merger with Cambridge of $7.4 million. The amount of associated remaining commitments assumed was not significant. Refer to Note 3, “Mergers and Acquisitions” for further discussion of the merger.
The following table presents additional information related to the Company’s investments in LIHTC projects for the periods indicated:
For the Year Ended December 31,
202420232022
(In thousands)
Tax credits and other tax benefits recognized$20,750 $11,624 $9,146 
Amortization expense included in income tax expense
16,452 9,577 7,503