LOW-INCOME HOUSING TAX CREDIT INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2025

LOW-INCOME HOUSING TAX CREDIT INVESTMENTS

Schedule of low-income housing investments and obligations


(in thousands)			June 30, 2025						December 31, 2024
							Unfunded						Unfunded
Investment	Accounting Method			Investments			Obligations (2)			Investments			Obligations (1)
Low-income housing tax credit - Gross	Proportional amortization		$	82,500		$	51,712		$	72,415		$	54,797
Life-to-date amortization				(26,212)			NA			(21,899)			NA
Low-income housing tax credit - Net			$	56,288		$	51,712		$	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 June 30,						Six Months Ended June 30,

(in thousands)				2025			2024			2025			2024

Amortization expense			$	2,008		$	1,561		$	4,313		$	3,179
Tax credits recognized				(2,803)			(2,326)			(5,978)			(4,852)