v3.25.1
Tax Credit Equity Investments
 3 Months Ended
Mar. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
TAX CREDIT EQUITY INVESTMENTS TAX CREDIT EQUITY INVESTMENTS
As part of our responsibilities under the Community Reinvestment Act and due to their favorable federal income tax benefits, we invest in low-income-housing tax credit, or LIHTC, and historic tax credit, or HTC, partnerships. As a limited partner in these operating partnerships, we receive tax credits and tax deductions for losses incurred by the underlying properties. No impairment losses were recognized for the three months ended March 31, 2025 and March 31, 2024.
The following table presents the balances included in the Consolidated Balance Sheets as of the dates presented:
(dollars in thousands)
March 31, 2025December 31, 2024
Tax credit equity investment(1)
$39,346 $40,577 
Unfunded commitments(2)
4,893 5,887 
(1) Included in other assets in the Consolidated Balance Sheets
(2) Included in other liabilities in the Consolidated Balance Sheets
The following table summarizes the amortization expense and tax credits included in income tax expense in the Condensed Consolidated Statements of Comprehensive Income for the periods presented:
Three Months Ended March 31,
(dollars in thousands)
20252024
Amortization$1,231 $768 
Tax credits and other tax benefits recognized1,388 906