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Affordable Housing Projects Tax Credit Partnerships (Tables)
12 Months Ended
Dec. 31, 2022
Equity Method Investments And Joint Ventures [Abstract]  
Expected Payments for Unfunded Affordable Housing Commitments

As of December 31, 2022, the expected payments for unfunded affordable housing commitments were as follows:

 

(dollars in thousands)

 

Amount

 

2023

 

$

41,142

 

2024

 

 

12,497

 

2025

 

 

24,115

 

2026

 

 

157

 

2027

 

 

58

 

Thereafter

 

 

10,790

 

Total Unfunded Commitments

 

$

88,759

 

 

 

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 years ended December 31, 2022, December 31, 2021, and December 31, 2020.

 

(dollars in thousands)

 

2022

 

 

2021

 

 

2020

 

Effective Yield Method

 

 

 

 

 

 

 

 

 

 

 

 

Tax credits and other tax benefits recognized

 

$

6,116

 

 

$

8,604

 

 

$

11,752

 

Amortization Expense in Provision for Income Taxes

 

 

5,185

 

 

 

6,700

 

 

 

8,586

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Proportional Amortization Method

 

 

 

 

 

 

 

 

 

 

 

 

Tax credits and other tax benefits recognized

 

$

15,174

 

 

$

10,831

 

 

$

6,633

 

Amortization Expense in Provision for Income Taxes

 

 

13,131

 

 

 

9,375

 

 

 

5,729