Investment in Real Estate Limited Partnerships

12 Months Ended

Dec. 31, 2020

Investment in Real Estate Limited Partnerships [Abstract]

Investment in Real Estate Limited Partnerships

Investment in Real Estate Limited Partnerships

The Company has purchased from time to time various interests in limited partnerships established to acquire, own and rent residential housing for elderly, low or moderate income individuals in northern Vermont and New Hampshire. The following is a summary of investments in real estate limited partnerships at December 31:

	2020		2019
	(Dollars in thousands)
Carrying values of investment carried at equity included in Other assets	$	6,584	$	4,402
Capital contribution payable included in Accrued interest and other liabilities	1,351		493

The following table presents the net impact on the Provision for income taxes related to investments carried at equity:

	For The Years Ended December 31,
	2020		2019
	(Dollars in thousands)
Provision for undistributed net losses of limited partnership investments	$	935	$	745
Federal income tax credits related to limited partnership investments	(987)		(803)
Net effect on Provision for income taxes	$	(52)	$	(58)