Affordable Housing Partnership, Tax Credit and Community Reinvestment Act Investments, Net (Tables)

3 Months Ended

Mar. 31, 2026

Investments in Qualified Affordable Housing Partnerships, Tax Credit and Other Investments, Net and Variable Interest Entities [Abstract]

Schedule of Affordable Housing, Tax Credit and CRA Investments, Net and Related Unfunded Commitments

The following table presents the investments and unfunded commitments of the Company’s affordable housing partnership, tax credit, and CRA investments, net as of March 31, 2026 and December 31, 2025:



	March 31, 2026					December 31, 2025
($ in thousands)	Assets			Liabilities - Unfunded Commitments (1)		Assets			Liabilities - Unfunded Commitments (1)

PAM:
Affordable housing partnership investments	$	468,044		$	161,505	$	483,021		$	172,343
Tax credit and CRA investments	145,280			57,071		140,723			43,878
Equity method of accounting and other:
Tax credits and CRA investments	370,652		(2)	149,346		345,748		(2)	121,275
Total	$	983,976		$	367,922	$	969,492		$	337,496

(1)Included in Accrued expenses and other liabilities on the Consolidated Balance Sheet.

(2)Includes $37 million of equity securities without readily determinable fair values as of both March 31, 2026 and December 31, 2025.

Schedule of Additional Information related to the Affordable Housing, Tax Credit and CRA Investments, Net

The following table presents additional information related to the investments in affordable housing partnership, tax credit and CRA investments for the three months ended March 31, 2026 and 2025:



	Three Months Ended March 31,
($ in thousands)	2026		2025
Tax credits and benefits (1):
PAM:
Affordable housing partnership investments	$	20,156	$	19,662
Tax credit and CRA investments	25,182		17,633
Equity method of accounting and other:
Tax credit and CRA investments	20,149		12,005
Total tax credits and benefits	$	65,487	$	49,300

Amortization (2):
PAM (3):
Affordable housing partnership investments	$	14,977	$	15,406
Tax credit and CRA investments	23,105		12,864
Equity method of accounting and other:
Tax credit and CRA investments (4)	21,984		15,742
Total amortization	$	60,066	$	44,012

(1)Included in Income tax expense on the Consolidated Statement of Income.

(2)Amortization of affordable housing partnership, tax credit and CRA investments is included in Depreciation, amortization, and accretion, net on the Consolidated Statement of Cash Flows.

(3)For affordable housing partnership, tax credit and CRA investments that are qualified for accounting under PAM, amortization is included in Income tax expense on the Consolidated Statement of Income.

(4)For tax credit and CRA investments that are not accounted for under PAM, amortization is included in Amortization of tax credit and CRA investments as part of Noninterest expense on the Consolidated Statement Income.