Park makes certain equity investments in various limited partnerships that sponsor affordable housing projects. The purposes of these investments are to achieve a satisfactory return on capital, help create affordable housing opportunities, and assist the Company to achieve its goals associated with the Community Reinvestment Act.

The table below details the balances of Park’s affordable housing tax credit investments and related unfunded commitments at March 31, 2026 and December 31, 2025.


(in thousands)	March 31, 2026		December 31, 2025
Affordable housing tax credit investments	$	67,672	$	69,932
Unfunded commitments	21,845		25,586

Commitments are funded when capital calls are made by the general partner. Park expects that the current commitments will be funded between the remainder of 2026 through 2039.

Park recognized amortization expense of $2.3 million for each of the three month periods ended March 31, 2026 and 2025, which were included within "Income taxes" in the consolidated condensed statements of income. Additionally, during the three months ended March 31, 2026 and 2025, Park recognized tax credits and other benefits from its affordable housing tax credit investments of $2.2 million and $2.8 million, respectively, which were included within "Income taxes" in the consolidated condensed statements of income.