The following table summarizes Old National’s investments in LIHTCs, FHTCs, and CReEDs at June 30, 2017 and December 31, 2016:


(dollars in thousands)		June 30, 2017				December 31, 2016
Investment	Accounting Method	Investment		Unfunded Commitment (1)		Investment		Unfunded Commitment
LIHTC and other qualifying investments	Proportional amortization	$	26,828	$	14,692	$	29,110	$	16,210
FHTC	Equity		17,411		11,591		4,434		3,104
CReED	Equity		1,504		1,502		1,504		1,502

Total		$	45,743	$	27,785	$	35,048	$	20,816

(1)	All commitments will be paid by the Company by 2027.

The following table summarizes the amortization expense and tax benefit recognized for Old National’s qualified affordable housing projects and other tax credit investments for the three and six months ended June 30, 2017 and 2016:


(dollars in thousands)	Three Months Ended				Three Months Ended						Six Months Ended				Six Months Ended
	June 30,				June 30,						June 30,				June 30,
	2017		2016		2017			2016			2017		2016		2017			2016
	Amortization				Tax Benefit						Amortization				Tax Benefit
Investment	Expense (1)				Recognized (1)						Expense (1)				Recognized (1)
LIHTC and other qualifying investments	$	940	$	201	$	(1,298	)	$	(281	)	$	1,881	$	402	$	(2,595	)	$	(562	)
FHTC		—		—		(1,519	)		—			—		—		(3,039	)		—
CReED (2)		—		—		(606	)		—			—		—		(606	)		—

Total	$	940	$	201	$	(3,423	)	$	(281	)	$	1,881	$	402	$	(6,240	)	$	(562	)

(1) Tax credit investments are included in the Company’s estimate of the effective annual tax rate.

(2) The CReED tax credit investment qualifies for an Indiana state tax credit.