LOW INCOME HOUSING PROJECT INVESTMENTS Low Income Housing Project Investments

12 Months Ended

Dec. 31, 2025

Low Income Housing Project Investments [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 minimum of 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 December 31 of the years presented:

	2025		2024		2023
	(Dollars in thousands)
Original investment value	$	342,336	$	275,085	$	229,015
Current recorded investment	230,701		184,373		156,984
Unfunded liability obligation	100,277		71,748		58,731
Tax credits and benefits earned during the year	24,504		23,185		18,101
Amortization of investments during the year	20,957		18,676		14,360
Net income tax benefit recognized during the year	3,547		4,509		3,740