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Variable Interest Entities (Tables)
6 Months Ended
Jun. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]  
Carrying amounts of consolidated VIEs' assets and liabilities
The following table summarizes the carrying amounts of the consolidated VIEs’ assets and liabilities included in the Company’s statements of financial condition and are adjusted for intercompany eliminations. All assets presented can be used only to settle obligations of the consolidated VIEs and all liabilities presented consist of liabilities for which creditors and other beneficial interest holders therein have no recourse to the general credit of the Company.
(Dollars in thousands)June 30,
2020
December 31,
2019
Assets
Loans receivable$90,183  84,390  
Accrued interest receivable254  63  
Other assets55,537  54,692  
Total assets$145,974  139,145  
Liabilities
Other borrowed funds$26,988  23,149  
Accrued interest payable98  36  
Other liabilities42  123  
Total liabilities$27,128  23,308  
Future Unfunded Contingent Commitments Future unfunded contingent commitments related to the Company’s LIHTC investments at June 30, 2020 are as follows:
(Dollars in thousands)Amount
Years ending December 31,
2020$7,767  
202113,154  
20228,930  
20231,777  
2024398  
Thereafter687  
Total$32,713  
Amortization expense and tax credits and other tax benefits recognized for qualified affordable housing project investments The following table summarizes the amortization expense and the amount of tax credits and other tax benefits recognized for qualified affordable housing project investments during the periods presented.
Three Months endedSix Months ended
(Dollars in thousands)June 30,
2020
June 30,
2019
June 30,
2020
June 30,
2019
Amortization expense
$1,988  1,478  3,830  2,895  
Tax credits and other tax benefits recognized
2,678  2,009  5,163  3,967