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Investments in Qualified Affordable Housing Projects
 3 Months Ended
Mar. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Qualified Affordable Housing Projects
Investments in Qualified Affordable Housing Projects
(In Thousands)

The Company has investments in qualified affordable housing projects (“QAHPs”) that provide low income housing tax credits and operating loss benefits over an extended period.  At March 31, 2017 and December 31, 2016, the Company’s carrying value of QAHPs was $3,623 and $6,331, respectively. During the quarter, the Company sold its interest in a limited liability partnership which reduced the carrying value of the investment in QAHPs by approximately $2,450. The Company has no remaining funding obligations related to the QAHPs.  The investments in QAHPs are being accounted for using the effective yield method. The investments in QAHPs are included in “Other assets” on the Consolidated Balance Sheets.

Components of the Company's investments in QAHPs were included in the line item “Income taxes” in the Consolidated Statements of Income for the periods presented:
 
Three Months Ended
 
March 31,
 
2017
 
2016
Tax credit amortization
$
262

 
$
324

Tax credits and other benefits
(460
)
 
(471
)
Total
$
(198
)
 
$
(147
)