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

6 Months Ended

Jun. 30, 2021

Equity Method Investments and Joint Ventures [Abstract]

Investments in Low Income Housing Projects [Text Block]

LOW INCOME HOUSING PROJECT INVESTMENTS

The Company has invested in low income housing projects that generate Low Income Housing Tax Credits (“LIHTC”) which provide the Company with tax credits and operating loss tax benefits over a period of approximately 15 years. None of the original investment is expected to be repaid.

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

	June 30 2021			December 31 2020
	(Dollars in thousands)
Original investment value	$	162,984		$	128,752
Current recorded investment	125,066			97,435
Unfunded liability obligation	74,262			49,586
Tax credits and benefits	14,477		(1)	9,404
Amortization of investments	12,526		(1)	7,552
Net income tax benefit	1,951		(1)	1,851

(1) Amounts shown represent the full year impact for the year ended December 31, 2021.