LOW INCOME HOUSING TAX CREDIT INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2024

LOW-INCOME HOUSING TAX CREDIT INVESTMENTS

Schedule of low-income housing tax investments and obligations

(in thousands)		September 30, 2024				December 31, 2023
					Unfunded				Unfunded
Investment	Accounting Method		Investments		Obligations		Investments		Obligations
Low-income housing tax credit - Gross	Proportional amortization	$	67,614	$	59,598	$	57,596	$	58,619
Life-to-date amortization			(20,699)		NA		(15,904)		NA
Low-income housing tax credit - Net		$	46,915	$	59,598	$	41,692	$	58,619

Schedule of amortization expense and tax credits recognized for low-income housing tax investments

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)		2024		2023		2024		2023
Amortization expense	$	1,616	$	1,407	$	4,795	$	4,305
Tax credits recognized		(2,363)		(2,027)		(7,215)		(5,860)