LOW-INCOME HOUSING TAX CREDIT INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2025

LOW-INCOME HOUSING TAX CREDIT INVESTMENTS

Schedule of low-income housing investments and obligations

(in thousands)		March 31, 2025				December 31, 2024
					Unfunded				Unfunded
Investment	Accounting Method		Investments		Obligations (2)		Investments		Obligations (1)
Low-income housing tax credit - Gross	Proportional amortization	$	77,392	$	49,820	$	72,415	$	54,797
Life-to-date amortization			(24,204)		NA		(21,899)		NA
Low-income housing tax credit - Net		$	53,188	$	49,820	$	50,516	$	54,797

(1) All obligations will be paid by the Company by December 31, 2038.

(2) All obligations will be paid by the Company by December 31, 2039.

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

	Three Months Ended March 31,
(in thousands)		2025		2024
Amortization expense	$	2,305	$	1,783
Tax credits recognized		(3,175)		(2,691)