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Affordable Housing Projects Tax Credit Partnerships (Tables)
3 Months Ended
Mar. 31, 2023
Equity Method Investments And Joint Ventures [Abstract]  
Expected Payments for Unfunded Affordable Housing Commitments

As of March 31, 2023, the expected payments for unfunded affordable housing commitments were as follows:

 

(dollars in thousands)

 

Amount

 

2023

 

$

47,729

 

2024

 

 

24,731

 

2025

 

 

24,115

 

2026

 

 

156

 

2027

 

 

133

 

Thereafter

 

 

509

 

Total Unfunded Commitments

 

$

97,373

 

Schedule of Tax Credits and Other Tax Benefits Recognized and Amortization Expense Related to Affordable Housing

The following table presents tax credits and other tax benefits recognized and amortization expense related to affordable housing for the three months ended March 31, 2023, and March 31, 2022.

 

 

 

Three Months Ended
March 31,

 

(dollars in thousands)

 

2023

 

 

2022

 

Effective Yield Method

 

 

 

 

 

 

Tax Credits and Other Tax Benefits Recognized

 

$

1,457

 

 

$

2,730

 

Amortization Expense in Provision for Income Taxes

 

 

1,106

 

 

 

1,358

 

Proportional Amortization Method

 

 

 

 

 

 

Tax Credits and Other Tax Benefits Recognized

 

$

5,438

 

 

$

2,592

 

Amortization Expense in Provision for Income Taxes

 

 

4,940

 

 

 

3,203