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Low-Income Housing Tax Credits
9 Months Ended
Sep. 30, 2015
Investments in Affordable Housing Projects [Abstract]  
Low-Income Housing Tax Credits [Text Block]
Note 4. Low-Income Housing Tax Credits
The Company was invested in 4 separate housing equity funds at September 30, 2015 and 3 separate funds at December 31, 2014. The general purpose of these funds is to encourage and assist participants in investing in low-income residential rental properties located in the Commonwealth of Virginia; develop and implement strategies to maintain projects as low-income housing; deliver Federal Low Income Housing Credits to investors; allocate tax losses and other possible tax benefits to investors; and preserve and protect project assets.

The investments in these funds were recorded as other assets on the consolidated balance sheets and were $4.2 million and $722 thousand at September 30, 2015 and December 31, 2014, respectively. The expected terms of these investments and the related tax benefits run through 2032. During the nine months ended September 30, 2015 and 2014, the Company recognized tax credits and other tax benefits related to these investments of $316 thousand and $302 thousand, respectively. Total projected tax credits to be received for 2015 are $299 thousand, which is based on the most recent quarterly estimates received from the funds.  Additional capital calls expected for the funds totaled $3.7 million and $2.7 million at September 30, 2015 and December 31, 2014, respectively, and are recorded in accrued expenses and other liabilities on the corresponding consolidated balance sheet.