Off-Balance Sheet Activities

12 Months Ended

Dec. 31, 2020

Some financial instruments, such as loan commitments, credit lines, letters of credit, and overdraft protection, are issued to meet customer financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Off-balance sheet risk to credit loss exists up to the face amount of these instruments, although material losses are not anticipated. The same credit policies are used to make such commitments as are used for loans, including obtaining collateral at exercise of the commitment.

The contractual amount of financial instruments with off-balance sheet risk was as follows at December 31, 2020 and December 31, 2019:


	December 31, 2020				December 31, 2019
	Fixed Rate		Variable Rate		Fixed Rate		Variable Rate
Commitments to make loans	$	52,073	$	266,336	$	21,375	$	184,106
Unused lines of credit	24,328		673,919		14,637		446,407
Standby letters of credit	15,301		1,597		14,503		824

Commitments to make loans are generally made for periods of 60 days or less. The fixed rate loan commitments at December 31, 2020 have interest rates ranging from 1.24% to 18.00% and maturities ranging from four months to 35 years. The fixed rate loan commitments at December 31, 2019 have interest rates ranging from 2.53% to 18.00% and maturities ranging from one year to 30 years.

The Corporation makes investments in limited partnerships, including certain small business investment corporations and low income housing partnerships. Capital contributions for investments in small business corporations, reported in FHLB and other equity interests on the consolidated balance sheet, as of December 31, 2020 and December 31, 2019 were $11,835 and $9,669, respectively. Unfunded capital commitments in investments in small business corporations totaled $3,665 and $5,831 as of December 31, 2020 and December 31, 2019, respectively.

The carrying value of investments in the low income housing partnerships, reported in FHLB and other equity interests on the consolidated balance sheet, as of December 31, 2020 and December 31, 2019 were $6,015 and 6,649, respectively. The related amortization for the twelve months ended December 31, 2020, December 31, 2019 and December 31, 2018 were $634, $531 and $533, respectively. Unfunded commitments, reported in accrued interest payable and other liabilities on the consolidated balance sheet, as of December 31, 2020 and December 31, 2019 were $3,624 and $4,190, respectively.