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Investments in Qualified Affordable Housing Projects
 9 Months Ended
Sep. 30, 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 September 30, 2017 and December 31, 2016, the Company’s carrying value of QAHPs was $8,359 and $6,331, respectively. During the first quarter of 2017, the Company sold its interest in a limited liability partnership which reduced the carrying value of the investment in QAHPs by approximately $2,450. On July 1, 2017, the Company acquired $5,469 in QAHPs in connection with its acquisition of Metropolitan. 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
 
Nine Months Ended
 
September 30,
 
September 30,
 
2017
 
2016
 
2017
 
2016
Tax credit amortization
$
472

 
$
353

 
$
995

 
$
1,001

Tax credits and other benefits
(671
)
 
(503
)
 
(1,519
)
 
(1,445
)
Total
$
(199
)
 
$
(150
)
 
$
(524
)
 
$
(444
)