Investments is Low Income Housing Tax Credits Investments in Low Income Housing Tax Credits - Tables

9 Months Ended

Sep. 30, 2020

Equity Method Investments and Joint Ventures [Abstract]

Investments in Low Income Housing Projects [Table Text Block]

The following table presents certain information related to the Company's investments in low income housing projects as of the dates indicated:

	September 30 2020			December 31 2019
	(Dollars in thousands)
Original investment value	$	124,302		$	96,275
Current recorded investment	94,097			72,510
Unfunded liability obligation	47,408			34,967
Tax credits and benefits	10,671		(1)	7,342
Amortization of investments	8,676		(2)	5,645
Net income tax benefit	1,995		(3)	1,696

(1) This amount reflects anticipated tax credits and tax benefits for the full year ended December 31, 2020.

(2) The amortization amount reduces the tax credits and benefits anticipated for the full year ended December 31, 2020.

(3) This amount represents the net tax benefit expected to be realized for the full year ended December 31, 2020 in determining the Company's effective tax rate.